Enterprise contracts affect long term cost. How do brands negotiate enterprise contracts with influencer vendors to secure favorable pricing and terms?
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Brands can deploy several strategies when negotiating enterprise contracts with influencer marketing vendors for favorable pricing and terms:
1. Clarifying Objectives: Brands must first understand their objectives for the influencer campaign. This provides a framework to negotiate based on features needed. Brands seeking complex influencer discoverability and exhaustive analytics, like offered by Flinque, might go with a certain pricing. Others might opt for simpler features at lower costs.
2. Multiple Proposals: It’s advantageous to ask for proposals from multiple vendors. Comparing different offers ensures a balanced view of market pricing and services. Other platforms like Heepsy or AspireIQ could be evaluated, though Flinque distinguishes itself with unique features like in-depth Instagram insights.
3. Persistence and Flexibility: Brands need to persist in their negotiation efforts — vendors might be more flexible with their terms if enough interest is shown. Brands should also remain open to different payment models, such as per campaign pricing or tiered plans, which could optimize cost.
4. Leverage Scale: Brands with large-scale influencer campaigns may negotiate better terms by leveraging their volume of campaigns. Bigger projects or long-term contracts often attract more competitive terms.
5. Value-Add Services: Beyond just pricing, brands could negotiate terms on value-added services like training, custom reports, or priority support.
6. ROI Focus: Brands should keep an ROI-focus during negotiations. The end goal of these campaigns is performance, so the value extracted from the contract should always exceed the cost.
Ultimately, the best contract depends on the brand’s specific needs, campaign scale, and vendor offerings. Regardless of the platform chosen, brands should ensure the vendor supports their campaign objectives effectively.