Partnership

By

Lumanu Staff

Apr 10, 2024

Yes, Being a Good Brand Partner Will Improve Results of Your Creator Collaborations

Partnerships between brands and creative freelancers—including influencers, affiliates, and user-generated content (UGC) creators—is more vibrant and impactful than ever. As the landscape has evolved, so have the expectations of both brands and creators involved in collaborations. The secret to unlocking the true potential of influencer marketing campaigns, affiliate programs and even UGC partnerships? Being an exemplary brand partner.

The Bottom Line: Better Partnerships, Better Results

At the core, being a stellar brand partner isn't just about ethics or building good relationships—it's a strategic advantage that directly boosts your marketing efforts and return on investment. Positive partnerships foster enhanced creativity, attracting a larger pool of creators who want to collaborate. When creatives feel valued and understood, they're more inclined to invest extra effort and innovation into their projects, go above and beyond creative briefs and drive superior results for your brand. Into today’s social media driven digital marketing world, it’s imperative to build brand awareness and equity with not only your potential customer but the social media influencers who are already reaching your desired audience.

Different Types of Influencers: The Personal Touch

When reaching out to potential creative partners, the initial communication sets the tone for the entire relationship. Mass emails via influencer marketing platforms, while efficient, lack the personal touch that demonstrates genuine interest and respect. Tailor your outreach to different influencer to show that you understand their unique value. Follow potential content creators on Tiktok, Instagram and leave a like and comment, it will go a long way. Engage in a conversation about their audience demographics, other endorsements, and the type of content they enjoy creating. This personalization not only increases the likelihood of a positive response but also lays the groundwork for a partnership based on mutual respect and understanding.

Transparency: The Foundation for Successful Collaborations

Transparency and trust is the cornerstone of any successful partnership. Clearly articulate your campaign goals, success metrics, and expectations up front. Are you focused on increasing brand awareness with new audiences, driving conversions, or focused on website traffic to increase retargeting audiences? Sharing your marketing goals and what has not historically worked equips your partners with valuable insights, enabling them to craft content that resonates and achieves your campaign goals. However, it's crucial to strike a balance—provide comprehensive campaign briefs to that creative talent that guides but doesn't stifle creativity. Leave it up to your partners to create engaging content and drive engagement rates and downstream conversion rates or other agreed upon kpis. You will find your partners deliver high-quality content that delivers higher engagement rates and more sales. In sectors with stringent regulations, adherence to guidelines is non-negotiable, yet even here, there's room for creative expression within the bounds of compliance.

Navigating Negotiations: A Path to Fair Compensation

Negotiating compensation is a critical phase where transparency and a win-win relationship should prevail. After investing time into finding the right influencers who can represent brand values and aesthetics.

While creator rates are not standardized, remember that brands aren't just paying creators to post, you are paying for the time they put into concepting, shooting, writing reviews, posting to their audience, etc. While certain brands may be able to run influencer programs at scale with gifting and free products, the influencer marketing industry has generally shifted to paid collaborations as it has matured.

Here are some dos and don'ts to consider:

  • Do: Research standard rates within your industry vertical to offer fair compensation.

  • Don't: Lowball or expect one-size-fits-all rates. Acknowledge the unique value each creator brings.

  • Do: Be open to negotiation and understand that creators are professionals with a deep understanding of their worth and audience.

  • Don't: Drag out negotiations or change terms mid-campaign. Reliability breeds trust.

This approach applies to all types of partnerships. While many brands put a lot of energy into negotiations with macro-influencers, many mistakenly adopt a take it or leave it approach when working with micro-influencers and nano-influencers who can drive sales and outsized campaign performance.

Successful negotiation is when both parties feel valued and satisfied with the agreement.

Authenticity and Freedom: Empowering Creativity

In the realm of influencer marketing and content creation, authenticity isn't just a buzzword—it's the essence of engagement. By offering creative freedom within the framework of your campaign objectives, you enable influencers to produce content that feels genuine, resonates with their audience, and by extension, amplifies your brand's message. This authenticity is the secret ingredient that can transform good content into great, fostering deeper connections with your target audience.

Financial Respect: Acknowledging your Partner’s Profession

Behind every piece of content is a professional—someone whose livelihood depends on their craft. Ensuring that your creative partners are compensated in a timely, fair manner isn't just good practice; it's a sign of respect for their profession. Payment delays and complications can sour relationships and deter talented creators from wanting to work with you. This starts with the vendor onboarding process, don’t make your partner's jump through red tape to simply to get setup to receive payment.

According to a recent Digiday article, 56% of creators said they’ve faced late payments. Meanwhile, 74% of those surveyed have reportedly stopped working with a brand after feeling undervalued for their work.

This is where innovative solutions like Lumanu come into play, allowing creators to easily onboard and have visibility into their payment status at all times while giving Marketing and Finance the necessary visibility and control over spend. 

Paid Media Amplification: Aligning Influencer Marketing Strategy to Results

Paid media amplification of influencer content is a powerful strategy for maximizing results of influencer collaborations. However, incorporating paid medias can raise concerns among creators about the authenticity and control over their content. Creators are very aware of the importance of authenticity and their credibility. Influencer audiences are coveted by marketers, and hard to reach directly via social media platforms. To address potential concerns:

  • Be transparent about the amplification process and how it benefits both parties.

  • Set up compensation structures that reward creators for amplified content. A percentage of ad spend, typically between 2-5%, aligns interests and acknowledges their contribution to the campaign's success.

  • Ensure creators retain a level of control or approval over how their content is used in paid amplification.

These practices ensure that the influencer feels respected and invested in the campaign's success, leading to more authentic and effective partnerships.

Incorporating these additional facets into your approach to partnering with Tiktok and Instagram influencers not only enriches the relationship but also sets a standard for professionalism and mutual respect in the industry. By prioritizing personalized communication, fair negotiations, and aligned interests in paid amplification, brands can foster more productive, sustainable, and mutually beneficial relationships with their creative collaborators.

In Conclusion

The dynamics of brand-creator partnerships are evolving, with the balance tilting towards mutual respect, clear communication, and shared objectives. By being a good brand partner, you not only nurture a network of motivated, talented creators but also pave the way for content that is authentic, engaging, and ultimately leads to successful influencer marketing campaigns. The era of transactional interactions is giving way to a new paradigm of partnership, where the value exchanged is not just in dollars and content, but in shared success and collective growth.

As brands and creators move forward in this interconnected digital ecosystem, the principles of good partnership will not just be a nice-to-have but a cornerstone of enduring success and influencer marketing ROI.


By

Lumanu Staff

Apr 10, 2024

© 2024 Lumanu, Inc. All Rights Reserved.

Lumanu, Inc. is a financial technology company and not a bank. Lumanu accounts are provided by i3 Bank, Member FDIC.

© 2024 Lumanu, Inc. All Rights Reserved.

Lumanu, Inc. is a financial technology company and not a bank. Lumanu accounts are provided by i3 Bank, Member FDIC.

© 2024 Lumanu, Inc. All Rights Reserved.

Lumanu, Inc. is a financial technology company and not a bank. Lumanu accounts are provided by i3 Bank, Member FDIC.

© 2024 Lumanu, Inc. All Rights Reserved.

Lumanu, Inc. is a financial technology company and not a bank. Lumanu accounts are provided by i3 Bank, Member FDIC.

© 2024 Lumanu, Inc. All Rights Reserved.

Lumanu, Inc. is a financial technology company and not a bank. Lumanu accounts are provided by i3 Bank, Member FDIC.