trending

3 Tips for Pricing Your Brand Deals: Pricing 101

Slightly Savvy is an influencer's sneak peek behind the scenes of the PR world, built to deliver the most transparent PR insights to bloggers + influencers who want to transform their blog into a business.

Created by Pablo Tournellefrom the Noun Project

 TheBlog

SOCIAL MEDIA

WORK WITH BRANDS

follow @slightlysavvy

01

LIFESTYLE

02

03

Now Trending
4 Creative Ways to Make Money on Instagram
3 Tips for Pricing Your Brand Deals: Pricing 101
3 Media Prep Tips for Bloggers on Instagram Live

“How much should I really be charging for a blog post?”

If I had a dollar for every time I was asked this question… None of us would have to charge for blog posts because we get all this work for free because we would have so much money 🙂

I would give you guys some of that money, k?

If your blog is a business, which it is, then you need actual money.

You need to make sure that actual money can be a significant portion of your household income

I’m a big fan of bloggers charging what they’re worth and with confidence.

Creating a pricing structure that works for your blog statistics and follower numbers is an art-meets-science – in order to really gauge how much you should be charging, you need a good baseline to start.

And how much you charge really has less to do with a number and more to do with different factors that come into play when creating the perfect number: the scope of work, the brand, turnaround time, the requirements, etc.

And TBH, I read so much on Google and Pinterest that promises to tell you exactly how to price…and 9 times out of 10, the pricing structure doesn’t even make sense or else the numbers are way too low or way too high.

So! I hope this helps you guys start creating a solid foundation of pricing.

How to Price Your Brand Deals

1. Online calculators – yes or no?

So if you’ve ever heard to check sites like Social Bluebook that are supposed to tell you what you should be charging… I personally wouldn’t recommend solely basing your pricing off that.

While it’s a semi-okay place to get a rough rough idea of a very general ballpark area of what you could charge…I just simply don’t think it’s accurate.

Time and time again, I’ve worked with bloggers for much more than an online calculator would tell me to.

So, try to forget the online price crunchers and do your own thing. 

When I’m pricing for publicity clients, I NEVER quote at the “market rate.” It’s a very premium service, and I don’t budge from what I know my time and talents are worth – however, I can also back up EXACTLY what I charge premium prices with stats, case studies, and my media relationships. 

I tend to ignore “industry standards” and or the”normal going-rate.” And I encourage you guys to do the same. 

2. Set a minimum

Setting an absolute minimum is effective for a few reasons one.

It allows you to never go below a certain amount…no matter how bad you want the money or how much you could use the money, never go below your minimum amount.

Mostly I believe it’s a mental thing… When you’re accepting way less money than you want, it’s going to show in your work.

And it’s going to show in the quality of your work, the attitude of your promotion on social media, and overall, I think it’s going to be a negative vibe for your blog.

I’ve seen it time and time again where a blogger will begrudgingly accept a brand deal for much much less then she wants and thinks she’s worth…and then it’s a nightmare to work on a collaboration together.

The blogger is just in a negative headspace, and it shows throughout the whole partnership.

Then the brand isn’t happy, they’re not going to ask you back for more work, and it’s just a vicious bad cycle.

So set your bare minimum of what you’ll accept for a sponsored blog post or a sponsored Instagram post.

And then never budge from that minimum.

As a general rule, for Instagram posts, I say no less than $50 for bloggers of ANY size.

 

3. Ask 5 blogger friends what their rates look like

You’re probably like, “Okay Katherine…so how the heck do I actually know what I should be charging?”

And here’s what I like to recommend to bloggers I work with.

Ask 5 of your blogger friends what they charge. One or two bloggers a little larger than you, 1 or 2 with a smaller following, and then ask someone who is around your exact same sizing. 

You’ll get a good ballpark of a high and low price point for different packages or options you can present to a brand.

Again, I’m not saying to start comparing your rates to others…but I think it’ll give you a strong baseline of at least where to start your own pricing structures.

 

SO guys, what are your biggest struggles when it comes to pricing? Leave your questions below and I’ll do my best to answer.

Want to steal my Pricing Worksheet?

If you’ve ever felt totally clueless on how to price for a sponsored post vs. Instagram post vs. YouTube video…you are SO in the right place now 😉

I work everyday with my influencer clients to craft a pricing strategy for them that allows them to get paid what they deserve, land brand deals, and more.

Most of them have doubled or even tripled their standard rates…and they still consistently hear “YES” from a brand.

Download the first 3 FREE pages of the 15+ page Pricing Guide available in Summer Camp.

Drop your email in the box below, and get to building your own custom pricing structure!

The comments +

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.