Are you wondering how to develop a mutually beneficial relationship with your influencer? Most of us have been in a relationship that was one-sided, whether it be a romantic relationship, a friendship, or even a familial relationship. As such, you probably understand how terrible it can feel to give and give and give and receive nothing in return.
However, we tend to think of this as a problem in our personal relationships only. When it comes to matters of business, it is suddenly easier to tell ourselves that a one-sided relationship simply makes sense in certain situations, or that simply being allowed to be part of this relationship is reward enough for the other party.
If this is the way you are thinking about your relationship with your influencer, it is time to break that habit.
Influencer relationships are absolutely a two-way street, requiring a setup that is mutually beneficial for you and your influencer. So, how can you develop this dynamic? Allow us to help.
This sounds incredibly simple, and that is because it is. Rather than trying to figure out what your influencer might want out of the relationship, just ask them. In most cases, this will work out well, either allowing you to quickly outline the terms or at least give you a starting point for negotiations. However, there may be some cases where the influencer does not know what they want or cases where you prefer to approach them with an offer in order to maintain more control. In these situations, you need to be ready to offer something specific.
The obvious place to start here is with the services your business offers. But your business may not be service oriented. In this case, think about the work you do behind the scenes for your business. These are skills your influencer may be able to benefit from, and if you can offer them in return for their work on your campaign, you may be able to run a successful campaign without spending a lot of money.
So while they are giving your brand or product exposure, you can offer some for them in return. This may mean featuring them in your general advertisements, putting them on your website, making a profile to feature them, or whatever happens to work for the both of you. While they should offer you more exposure than you will offer them, you can still help them expand their reach.
Do you want your influencer working for the competition? Absolutely not. However, there may be other businesses that do not compete with you, but rather complement your business. To help your influencer cement their status as an authority figure and become more in-demand as an influencer, you can recommend them to other business owners.
In the vast majority of cases, your influencer will want financial compensation, so you need to be ready to come to the table with an offer. This offer can be a flat rate, per project, or even based on results. No matter how you want to structure it, you need to be ready to pay your influencer for their efforts.
Will they be accepted in lieu of financial compensation? Probably not in full. However, your influencer may be open to a mixture of products and financial compensation as payment. This will depend on the influencer and their interest in the products you offer.
Will you be attending an industry event that will interest your influencer? Invite them as your plus one. From conferences to launch parties, your influencer may be interested in coming along to expand their network. Other experiences that might work include trips, theater productions, concerts, and art gallery showings. The key here is knowing what interests your influencer.
Do you have ideas for other ways to create a mutually beneficial relationship with an influencer? We want to hear about them.