Anyone adhering to social etiquettes, does not prefer to discuss these three things publicly: religion, politics, and money.
When the whole world runs on money, it becomes important to talk about it when it comes to paying someone for their services. All the more necessary to know the rules when it comes down to compensating a social media influencer for a blogger outreach program.
There is a fine line between compensating someone, and outright paying them for their time and energy put into promoting your brand. Truth is that no one wants to work for your bloggers outreach program for free. Like you have a job in hand to do, so do they have one for which they expect to be paid.
Many firms forget that producing unique and captivating content for blogging outreach takes time and effort. Which is why influencers choose their partnerships carefully. And though monetary compensation is preferred over anything else, the compensation can be creative to suit your budget, while keeping the influencers happy.
An influencer marketing agency Blogweet points that, it is not about paying someone for their work, but how to adequately compensate an influencer for his/her hard work.
Free Products & Services
Also gives the influencer a chance to actually test your brand. Be it a physical product, or a service, customize it to suit your influencer’s needs and requirements, just like you will do with your actual customers.
Pay per Sale/Lead
This method uses the commonly used arrangement of pay-per-sale (sharing with influencers a percentage for every customer they refer), or pay-per-lead (where advertisers pay a flat amount per referred lead).
Inviting Them to Events
An event is a great way to show them that you value their contribution, and also a nice way to make them feel like a part of your team. Extra free tickets, backstage access, pass to the VIP lounge, etc., can be used as a compensation.
Exclusive Access, and Attractive Deals
Your influencer can be the first one to get a new product/service first before you launch it for the public. Offering discounts on their purchases and for those they refer can win you brownie points.
Influencers love working for brands who help them: strengthen their status as opinion leaders and increase their reach, and help them improve their content quality.
Never forget that your influencer is working hard to build their own reputation and follower base, which will benefit your brand in the long run. Make your influencer and their followers fall in love with your brand, genuinely.