Hi guys, hope you are having a lovely day? Well, I am having a great time. So, today’s topic is one of the most highly requested topic: What to consider when charging a brand? How much do I charge a brand?
I get many people ask me what price or how do they charge a particular brand for a particular collaboration. Well, one thing I will say is, there is no ‘Set price‘ that works for every blogger. Don’t let anyone deceive you by saying there is a minimum price you should collect for a particular collaboration.
For several months/years, I have worked with some brands for “FREE”, not totally free but based on products exchange, I will be lying to you if I say I still don’t do it. Sincerely, I still do it and for real, many “Big” bloggers do it too.
Don’t be carried away with everything you see on social media or said by some bloggers. Collaboration charge is a very sensitive and personal topic in the blogging industry. So, same rules don’t apply to everyone. Enough of the talking. Let’s move on to calculate your charge:
What To Consider When Charging A Brand? Media kit template
For me, I would say: A rate card/media kit is a document containing prices and descriptions for the various ad placement and services options available from a media outlet, mostly used by bloggers and creatives.
1.What can you offer?: The point isn’t to take every opportunity and offer that comes your way. I know you want to work with brands but work with brands relatable to your content, niche and blog. When you are writing your rate card/media kit, ask yourself: What can I offer? For example, myself:
- I have a ‘blogging and business tips’/modest fashion platform which is why I majorly work with fashion brands in general. I can work on food review or make-up review but we both know those don’t really match my blog which I have done in the past but now, I know better – We are all learning. Write down all the services you think you can offer with a short description.
2. What is your statistics saying? (Media Kit) This is majorly the interesting part most brands are looking for. They want to see your reach, influence and audience. Break down your stats in different categories such as: (Google analytics will help you with most of these things):
- Short description of your blog and yourself
- Overall blog stat
- Monthly blog page views
- Monthly unique visitors
- Target audience: Age, Location & Gender
- Average time spent on website
- How often do you post?
- Average numbers of comments
- Brands you’ve worked with in the past?
- Social media: Numbers of followers, average likes, average number of comment, Gender, Top locations
3. Set each service price (Rate Card): Now, you have a list of services you can offer brands and know your stat. Allocate a reasonable price to each service considering your statistics. For example, if you get 100 views per month, charging a brand 200K Naira for a collaboration sounds ridiculous to me. I will use myself as an example for better understanding. My rate card consists of services such as:
- product review (I keep the items) – [Option: On blog only, On social platforms only & Both],
- Product review (I return the items) – [Option: On blog only, On social platforms only & Both],
- Promotion of product [Option: On blog only, On social platforms only & Both] – Charge per picture/Package
- Modelling for brands
- Blog advert placement: Sidebar, Header, Footer or In-text
- Blog/Business Freelance consultation
- Products exchange only (I have a minimum number of products I take for exchange + I consider the worth of the product(s)
- :- I work with certain reputable brands based on mutual benefits to build up my portfolio (Personal preference)
*Prices are negotiable (Personal preference) / You can add more services depending on your niche/blog
4. Individual price work-out (How much to charge a particular brand): Now, you have your ‘Standard prices‘, great. When a brand approaches you, you need to consider:
- What exactly do they want you to do? IMPORTANT
- Can you do it?
- How big is this brand?
- Is the benefit of this collaboration mutual? (Not just looking at their numbers, do they have your audience? Do you have the audience they want you to reach)
- Is this project worth your time?
- Does it fit into your brand?
- How much will it cost you to realise this project? IMPORTANT
- Can you deliver what they are asking for? IMPORTANT
- Set your price, then ask one last question: Is my stats backing-up the price? IMPORTANT
- You are good to go!!!! – Charge the price you think is reasonable
5. I am hoping at this stage, you are able to conclude on a reasonable price to charge the brand. I will repeat again, not all collaboration is based on monetary – Don’t play yourself or be deceived, be smart and know your worth! *Be patient too
*This is just a standard media kit/rate card template to guide you – Update your media kit regularly
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Thank you for reading.
X Maryam Salam X