Phạm TúHey, brand builders and influencers! Can you really pull off a killer influencer marketing campaign without breaking the bank? The answer is…it depends! It all comes down to your brand’s clout, the value you offer, your campaign goals, and your negotiation skills.
Let’s dive into the pros and cons of paying influencers with cash vs. products:
Show Me the Money! Why Cash is King
According to AspireIQ, influencers are way more likely to say “yes” to a brand that offers cold hard cash, along with those sweet freebies. And guess what? The bigger the influencer, the less likely they are to work for free. Those charging $5,000+ per post? Yeah, they probably won’t even glance at your “product exchange” offer.
Why So Serious About Cash?
Influencers with high-quality content and engaged audiences know their worth. For many, creating content is their full-time gig, and they’ve spent years building their brand. They expect to be compensated fairly for their time and expertise.
Here’s what some influencers have to say:
- @sweetnewyork (lifestyle influencer): “Those ‘product-for-post’ offers with a huge list of demands make me feel like my work isn’t valued. Unless it’s a product I’m genuinely excited about, or a generous gift card, I’m likely to pass. Especially when it’s a big brand that can clearly afford to pay creators and is already running paid ads with other influencers.”
- @conciouslychloe (travel blogger): “Even though reviewing products isn’t my full-time job like some other influencers, it still takes time and effort to create content, edit photos, and research. We deserve to be paid for our work.”
Scoring Freebies: When Product Collabs Work
While most influencers prefer cash, “unpaid campaigns” can still be successful if you play your cards right. Here’s how:
- Offer High-Value Products: Think luxury brands, high-end fashion, travel vouchers, or fancy gadgets. Influencers are more likely to consider a product exchange if the value exceeds their usual sponsored post fee.
- Build Relationships: A strong relationship with an influencer can make all the difference. Send them free samples, engage with their content, and show genuine interest in their work.
- @conciouslychloe (travel blogger): “I always prioritize brands that pay in cash, unless it’s a brand I’ve worked with before and have a good relationship with. But some brands send me free products, and I honestly forget about them. Then they contact me weeks later asking for my feedback and wanting a post in exchange.”
- Ride the Trend Wave: Over a third of influencers surveyed said they’d be willing to collaborate with trending brands. It’s a chance for them to gain more followers and stay relevant.
- Bitis Hunter is a prime example. After their successful campaign with Sơn Tùng MTP, Bitis Hunter sneakers became a must-have item, with influencers and fans alike showing off their new kicks online.
- Partner with Big Names: Some KOLs will gladly promote a well-known brand like Mercedes-Benz, even without a hefty fee. The brand might offer a small discount or exclusive access in exchange for the exposure. It’s a win-win: the KOL elevates their image, and the brand gets free publicity.
- Support Non-Profits: Influencers often participate in charitable campaigns to boost their reputation and give back to the community. This could involve promoting eco-friendly products or supporting social causes.
Making Unpaid Campaigns Work:
- Find the Right Influencers: Start with those who already use and love your product. They’re more likely to accept a product exchange with a brand they genuinely admire. For example, a high-end skincare brand new to the Vietnamese market could send samples to beauty bloggers who are always eager to try the latest products.
- Request the Right Content: Be mindful of the time and effort it takes to create high-quality content. Instead of demanding multiple Instagram posts, consider alternatives like Instagram Stories or Tweets, which require less effort and are often done for free or at a discounted rate.
- Promote Their Content: What do all influencers want? More followers! Feature their content on your brand’s social media channels, website, or even in your ads. This is a great way to help them gain exposure, especially if you have a large following.
- Gift High-Value Products: Show your appreciation for their work by gifting products that are worth their time and effort. But remember, there’s no obligation for them to post about it. Without a paid contract, there are no strings attached.
- Build Long-Term Relationships: One of the biggest trends in influencer marketing is building lasting relationships with KOLs. Think long-term and nurture those connections for future collaborations.
So, there you have it! Influencer marketing doesn’t always have to break the bank. By understanding the value exchange, building relationships, and choosing the right strategies, you can create successful campaigns that benefit both your brand and your influencer partners.
