Over the past decade, the activities on the internet via social media platforms, websites, podcasts have increased tremendously. Besides that, over three-quarters of the world is an active member online. So have you thought of what this could mean? You could practically reach millions of people at a go.
Who is an influencer? An influencer is a person who can influence potential buyers to purchase a product by recommending these items.
An influencer is a figurehead in a particular niche, recognized widely for their knowledge, creativity, and relevance, and who has the power to affect the purchasing decisions of others. They always have a large number of following, as well as engagements.
An influencer rises high over decades, amassing a large following due to the content they produce on their online space. They build a reputation and a profitable brand for themselves and are known as social media celebrities.
The amount of influencers available has risen to a large community. These influencers not only have a large following but can drive organic traffic to your sites, especially if they've got the audience the brand needs.
We've got various ways influencers are grouped, and it's relevant that you know these:
These influencers are known by how many people they can reach and the number of followers, and they're called:
Under these types of Niche influencers, we have others who influence just as massively;
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.
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.
There are several types of influencers, with each of them having various needs to be met. Just as not all influencers are generic, figuring out how to bill your clients depends on how many results you can bring to the table. Based on your growth and reach, this is how much most influencers get paid for their services.
Influencers make good use of their influence to earn —which is their right! Below are lists of payments influencers receive on various social media platforms from teams/owners that want to promote their businesses.
Payments made to influencers on Twitter based on their followers;
Estimated payments made to Facebook influencers based on their followers;
Of course, besides being paid based on their followership alone, you are paid based on how influential you are in persuading your followers to buy.
Besides cash, other ways to pay an influencer are;
Explore our blog for more info on closing deals.