Don’t settle for inflated vlogger prices; use three tips to keep prices under control.
A vlogger is a person that records video blogs. On YouTube, certain vloggers get millions of hits per video, and have audiences that rival or exceed cable television shows.
The market for vloggers is experiencing price inflation due to their reach and ability to influence millennials. Luckily there are ways to keep those costs down while securing a vlogger partnership.
Find a vlogger just before they make it big. Brand marketers are often shocked at how much an influential vlogger costs for their program and quickly turn to a second choice. Some brands benefit from their agencies and talent experts who spend time identifying rising stars and hire before prices are out of reach. This tactic saves money while hiring a potential superstar.
Securing an up-and-coming vlogger can be just as good as a rising celebrity, as their videos have no expiration date and continue to be discovered by new viewers. Additionally, it is possible to track and provide quantitative information about views and the amount of time consumers are being influenced by your program through services like YouTube analytics.
Vet a large number of vloggers. You may be surprised how vloggers with similar reach can be priced so differently. Some vloggers, in the past, have been overpaid and expect similar levels of compensation for future contracts. If you vet enough of them you can find one at a fair market value.
For example, a $10,000 vlogger could be a better fit for your brand than a similar one costing $50,000. Vloggers let demand overly influence their fees creating a buying opportunity.
There are a number of websites available like socialblade.com and statsheep.com that can help you figure out which vlogger is right for your advertising needs. They provide tools to examine metrics like potential growth, changes in subscribers, channel views, etc. They also allow your teams to compare the statistics of vloggers side-by-side, helping identify which vlogger has the right stats to suit your program.
Negotiate affiliate links. An affiliate link is a link to a website that features the product mentioned in the video. They can exist in the video description or in some cases on the video itself. There are many ways to pay, but a popular compensation model is paying the talent a percentage of each sale made from the link.
Affiliate links take the guess work out of paying talent because a direct dollar amount can be attributed to their value as an endorser.
When considering affiliate links it is important that your team and the talent understand YouTube terms of service. In some cases, videos can be taken down if they do not adhere to YouTube guidelines.
To avoid complications, partners should notify YouTube of paid promotions, which can be done by checking a box in the monetization options after uploading the video. There is some grey area on what types of paid promotion are allowed, so working with a legal professional who understands YouTube policies is highly advised.
photo credit: Alan Schein Photography/corbis