And one of the biggest questions about media kits specifically is, “Should I put my rates on there?”
Your first instict answer is, “Yes, duh!!?”, right?
It’s most people’s first answer, too. But today, I want to talk on why it’s a more strategic, money-making move to have a completely separate media kit AND rate sheet.
Why You Should Keep A Separate Media Kit AND Rate Sheet
Before we go much further…here’s some quick definitons.
A media kit is what a blogger would send to a brand in a nice little 1-2 page PDF that outlines blog stats, social media links, headshot, bio, etc.
A rate sheet is exactly what it sounds…a cute little one-sheeter PDF that lists out your various pricing structures for a blog post, Instagram story, video, etc.
I’ll give you a spoiler…the ultimate goal behind this is trick is to make more money with your brand deals.
1. More leverage and negotiating power
Sometimes, working with a brand on a collaboration is all about negotiating for what you want.
This is both a fun and stressful part, right?
Your blog is your business. And businesses need money.
And brand collaborations are a serious source of income.
So you need to negotiate them just like you would any business deal really. And a lot of that negotiation lies in leverage – what do you have that they want? What do you have that they kick it elsewhere? What makes you special enough for them to pay you over another blogger?
When you can answer those questions…that’s your leverage.
And when you slap a price tag on yourself way too soon…you kind of give up that leverage.
When we’re working on the initial steps of a brand deal, it can be easy to focus on money too fast – without really seeing if the partnership is a good fit or not.
Keeping a media kit and rate sheet separate can keep that very initial convo can help keep the ball in your court.
2. More negotiation power = the ability to make more money $$$
Once upon a time, I was working with a blogger on behalf of a brand I was representing. She sent her media kit over, and when I peeped inside, she had her pricing listed…
And what she was charging was SO much lower than what I was planning for.
Now, for a brand, sure that’s great – they just saved some money.
But for the blogger? By laying out her pricing so early and so upfront, she gave away all her leverage to negotiate for higher rates.
3. When you’re negotiating unconventional collaborations, a separate rate sheet means you can tweak your pricing to reflect more work or a more time-consuming process
Not every brand collaboration has to sit in the realm of a sponsored blog post followed by an Instagram post.
Sometimes, it can be a video series or an Instagram Live series…or maybe a brand is wanting you to create content that will live on their website instead of yours. Maybe it’s even a licensing deal?
The list is really endless on the types of brand deals out there.
I love innovative content, and I love working with bloggers who are testing out different mediums, different platforms – basically just creating something fresh and different.
Lisa from the blog, Pretty Little Shoppers, is a perfect example of this – starting out as a fashion blogger, she started creating a reality series called The Fash Life. Which is just so like unheard of, right??
Lisa did Summer Camp last August, and after four years of blogging without a single paid job, she landed her first PAID brand deal.
And also, she wanted to secure brand sponsors for her reality show – so we talked one on one about how she could price strategically for that…and when she walked away, she knew how to give her PR contact multiple price points and package options to choose from.
So if you’re building something semi-unconventional, like a reality show, a talk show, a podcast, you’re pricing is definitely going to look a little bit different and might require some explanation.
aka don’t try to lump it all on your media kit.
Have a dedicated rate sheet where you break down specific pricing, why you charge what you charge, and what benefits the brand is going to get from it.
The conclusion? Just keep your media kit and a rate sheet separate.
SO, it’s super not a bad idea to at least test removing your pricing from your media kit and popping it on a separate PDF.
If you test it and it works out super well, let me know??
Think of your rate sheet as something a bit more exclusive that only some brands at a certain point get to see – and make sure you break down different pricing, content ideas, and all that jazz.
Maybe throw some logos from your past partnerships on there for good measure.
Okay, ready to set up your NEW pricing structure together?
And now if you’re fired up to set some new pricing standards for yourself to cultivate the rates you deserve, you can work 1-1 with me in my Pricing Strategy Session.
Over an hour on FaceTime, we will break down every dollar of your rate sheet and create a new pricing structure that reflects your value, followers, and your brand (blog post, Instagram, Instagram story YouTube video, will break down the whole shebang.)