NO FAIL NEGOTIATION:
STEPS TO GETTING PAID WHAT YOU ARE WORTH
A proven negotiating process that will help you to get paid well for your work
My Top Two Tips When it Comes to Negotiating:
- Negotiation is a mind set issue. Believe in yourself and have confidence in your abilities!
- Learn to how to say “No!” Don’t be afraid to walk away, and know when to walk away!
How Much Should I be Charging?
“Industry Standard” of $10-$15 CPM Cost per thousand impressions (technically, “cost per mille”)
So, according to “Industry Standard” if you have:
10,000 IG Followers= $100-150
15,000 IG Followers = $150-$225
20,000 IG Followers= $200-300
Numbers… do they matter? Yes and No. BUT, your worth is NOT solely in your numbers.
I personally don’t believe in charging solely for your numbers. Consider all the factors and try not to compare with others. There are many factors that should go into your pricing and rates.
Production Value, quality of photos/videos, how long you have been in the game, if you have have built and maintained a relationship with the brand, etc..
My advice on what to charge?
Start at a rate you think you are worth, and ask to be paid what you think you are worth. Then, if you are getting too much work you are probably not charging enough, if you are not getting any work, then you might be charging too much.
Know what you are charging for EACH service that you provide. Know ahead of time all of your pricing.
Look at the source, who is sending you the request: (Pricing should always be flexible.) Do a custom proposal for everyone you work with instead of sending a general rate sheet each time.
*Getting Paid with Product or Trade for Product: It’s ok to work in exchange for product if feel like the product is worth your time, don’t be ashamed of working for product, we all have to put in our dues.
How do you ask for Money?
“I would love to hear more about what you are looking for so I can put a proposal together outlining my rates and services…”
“What kind of budget are you working with so I can give you a good idea of what services I can offer you.”
**But Please: If you are reaching out to a brand first, take the time to form relationships with the brand first before you ask for money.
Other items you should consider charging for:
- Rush Fee
- Ownership Rights
- Link in Bio on Instagram
- Exclusivity If none of these add-ons came up in the initial negotiation. (But, it should have if you made a point of asking about it.) You can let the brand know that those items weren’t considered at the time you quoted a rate, but offer to provide some new pricing. “This was not considered at the time the pricing was given, however I am happy to give you some new pricing.”
How to Make a Deal: Steps to Negotiation
1. Have a Strategy:
2. Obtain Key Information:
Questions to Ask first when Beginning a Negotiation:
- What is the brand looking for?
- What are the deliverables? What are you being asked to create? Deliverables are all negotiable. Consider how long it will take you to do the campaign. Time investment should be considered when setting a price. Will there be a lot of emails back and forth? Drafts and Edits? Phone Calls? Also, will I need to invest my own money into it?
- When are the deliverables due/ project deadline?
- What is your budget for this?
- Who will have ownership of the content/photos?
- Will there be exclusivity?
- Will there be a draft process, and will the brand need to approve the content?
- Will I need to place a link in my bio (for Instagram) If so, for how long?
- What are the KPI’s? KEY PERFORMANCE INDICATORS (How the brand will measure campaign success) What are you hoping to achieve from this campaign?
You rate should be based on the answers to all of the questions above. Ask at the start of the discussion so that you can price yourself accordingly, based on the things you need to create successful content.
3. Proposal: Send over a quote.
4. Bargain: May need to bargain back and forth a bit.
5. Come to an Agreement, Yes or No:
If it is a No, when turning down opportunities:
Never send a rude response. ALWAYS BE POSITIVE.
Ways to Kindly Say “No”:
“If Yes, Make sure all agreed upon items are written clearly in a signed contract!
Congrats, you are on your way to getting paid what you are worth!
This content is copyright 2018 by Caroline Drake of Armelle Blog.
Please do not re-publish or share without written permission.