A big challenge many influencers go through is figuring out which brand would be the best to collaborate with —and how to go about this journey.
Influencers usually bill clients by activity: a post, a video, a comment, recommendation, etc. Each of these items is different in how much time you need to spend as an influencer to prepare yourself or create relevant content, so it’s worth considering that when setting up your rates.
There are factors to consider before deciding on how to bill a client you’ve decided to work with.
- Followership: Depending on whether you have 10,000 followers or 1,000,000 followers, you will bill your clients differently.
- Engagement rate: This is tricky because the number of followers an influencer has doesn't count here. You could have 300,000 followers and only 13,000 active engagements on your content, and another influencer could have 600,900 followers and have about 10,000 media engagements
- Exclusivity: If you decide to work for a given brand, you should not be promoting another business similar to your client’s when their campaign is running on the social media platform. Yeah, influencers' integrity counts a lot in this aspect, so you should strike a deal!
- How long would your campaign run: Knowing how long you're going to work with a client and the lifespan of your posts would determine how much you should bill.
How to invoice influencers work
To get paid, keep track of all your earnings for tax purposes. Marketers work with dozens, if not hundreds, of influencers to regularly reach their goals and objectives. It's not unusual for payments to be late or forgotten, so both tracking and sending invoices are equally vital.
Your invoices are to be written as soon as possible. Indy has your back with ready-to-use invoices that you can customize and send in a matter of minutes. No matter how often a business or influencer platform tells you not to send invoices, it would be best if you always did so.
So how do you set up an influencers invoice?
Date of invoice: Documentation helps you keep track of payment dates, including taxes and future reference points.
Your complete name/ Contact information: Your basic information should be well detailed in your invoice, such as your name, your business name, your email, social media contacts, and possibly an office address.
Your client's information: Your invoice can't be complete without including the recipient information as well. Your client's full name and email are critical.
Job description (brand/business campaigns): What your post, blog content, product review is all about, and how long the drive is supposed to run on the influencer platform need to be considered.
Sum of budget: Total amount of money to be paid should be written towards the end of the invoice
The terms of payment & Payment methods: How long before the influencer receives payments and on what conditions. Depending on the agreement, payment methods include preference to PayPal, credit cards, cash transfers, commissions, etc.
Once you have your invoice figured out, you can use Indy’s invoice generator to save time - and money - on admin work.