{"id":1654,"date":"2023-05-02T09:46:08","date_gmt":"2023-05-02T09:46:08","guid":{"rendered":"https:\/\/www.qoruz.com\/blog\/?p=1654"},"modified":"2023-06-06T06:21:40","modified_gmt":"2023-06-06T06:21:40","slug":"platform-vs-agency-influencer-cost-transparency","status":"publish","type":"post","link":"https:\/\/qoruz.com\/blog\/platform-vs-agency-influencer-cost-transparency\/","title":{"rendered":"Platform Vs. Agency – Influencer Cost Transparency"},"content":{"rendered":"\n

The truth of influencer marketing is it all begins and comes down to cost.<\/p>\n\n\n\n

Whether starting a new campaign or looking to hire an influencer, one thing is certain: your budget will dictate much of your decision-making process. <\/p>\n\n\n\n

You’ll need to finalize how much you can afford to spend on influencers and how much you’ll get in return for that investment.<\/p>\n\n\n\n

And this investment is better off spent only on the influencer marketing process and not compensating hidden costs that you don’t even know exist. <\/p>\n\n\n\n

You’re putting money into something that could be hugely beneficial and budget-saving or pouring money down the drain. <\/p>\n\n\n\n

The only way to figure out which direction your campaign should head is by understanding the ins and outs of influencer marketing platforms and agencies. <\/p>\n\n\n\n

Middle Men Involvement <\/h2>\n\n\n\n

The term “MIDDLE MEN” goes by definition: It plays the role of an intermediary in any distribution that enables interaction between parties. <\/p>\n\n\n\n

And what does middlemen involvement have to do with influencer campaign costs?<\/p>\n\n\n\n

Having middlemen (agencies) handle the brand-influencer conversation adds up to costs for itself. <\/em><\/strong><\/p>\n\n\n\n

To be precise, agencies don’t serve as a BRIDGE between the influencer and your brand but behave differently. A WALL. <\/p>\n\n\n\n

Your brand will not have any say when it comes to campaigns, building a relationship with the influencer, or even selecting the right one for your brand. Your campaign brief is developed based on the agency’s preference. <\/p>\n\n\n\n

In an Influencer marketing platform, there are no middlemen involved. You will be in charge of everything right from the planning to execution. <\/p>\n\n\n\n

This gives you full control over your campaign and includes the costs associated with the influencers. <\/p>\n\n\n\n

Your in-house team will be responsible; hence you don’t have to deal with hidden costs. <\/p>\n\n\n\n\n\n

Campaign Budget Saving <\/h2>\n\n\n\n

One of the important things you need to know about outsourcing campaigns is that there are hidden costs\u2014and sometimes, they’re not so hidden.<\/p>\n\n\n\n

For every layer of the process involved in an influencer marketing campaign, there will be additional costs. <\/p>\n\n\n\n

Sometimes these costs aren’t even mentioned during your campaign-brief call. <\/em><\/strong><\/p>\n\n\n\n

Also, there’s no way to tell if the quoted cost for the influencer is the actual cost. <\/p>\n\n\n\n

In many cases, influencers might not be aware that the agency increases their deliverable costs to brands(like yours). <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

When running influencer campaigns using an influencer marketing platform, you will have the cost details of an influencer. <\/p>\n\n\n\n

This should solve most of your problems with paying extra costs. <\/p>\n\n\n\n

Another plus point for brands is that influencer marketing platforms give the influencers direct contact details, so you build a better relationship with them. <\/p>\n\n\n\n

This can be a great factor to consider given that you can use onboard the influencer (you’ve collaborated multiple times) to be your brand ambassador, or since you provide them with a lot of campaigns, there’s a chance they’d reduce the costs at some point helping to save your campaign budget.  <\/p>\n\n\n\n

Influencer Cost Transparency<\/h2>\n\n\n\n

There\u2019s no option for brands to contact influencers directly when outsourcing a campaign to an agency.<\/p>\n\n\n\n

The influencer cost is the agency’s greatest advantage to quote as much as they wish, costing you more. <\/em><\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

This will not be a one-time campaign where you’d pay for the influencer. If you are to work with the same influencer again, the agency will keep costing the same hefty price. <\/p>\n\n\n\n

Instead of paying X to an influencer, you end up paying 5X every time you collaborate. <\/p>\n\n\n\n

Agencies cannot provide the influencer’s contact information to ensure their business isn’t affected.  <\/p>\n\n\n\n

Influencer marketing platforms give the influencer the exact cost, providing the transparency any brand would need. <\/p>\n\n\n\n

You can also request their deliverable cost if influencers have not updated their current price.<\/p>\n\n\n\n

Having the option to view influencer cost details gives you an idea of how your marketing budget will look like. <\/p>\n\n\n\n

Cost Negotiation <\/h2>\n\n\n\n

When outsourcing influencer campaigns with agencies, here are something to know:<\/p>\n\n\n\n

    \n
  • The agency will negotiate the cost with the influencer based on your brand’s request<\/li>\n<\/ul>\n\n\n\n
      \n
    • There’s no guarantee that the agency will actually negotiate and reduce costs (they might just reduce one of their additional charges).<\/li>\n<\/ul>\n\n\n\n

      Influencer marketing platforms provide the actual cost of the influencer per deliverable and social media platform. <\/p>\n\n\n\n

      These are great because they provide a way to compare costs across different influencers and ensure you’re getting a fair price. <\/p>\n\n\n\n

      However, your in-house team must negotiate costs with the influencer and agree on a mutually beneficial price. <\/em><\/strong><\/p>\n\n\n\n

      Since the entire campaign control is in your hands, so does the negotiation with influencers. <\/p>\n\n\n\n

      Cost Benchmarking<\/h2>\n\n\n\n

      When working with an agency, you have no idea how much the influencer cost is going to be. <\/p>\n\n\n\n

      Not knowing the actual cost means you can’t benchmark previous campaign costs. <\/em><\/strong><\/p>\n\n\n\n

      When you partner with the same influencer multiple times, the agency will tend to charge the same amount\u2014giving no room for negotiation.<\/p>\n\n\n\n

      With influencer marketing platforms, brands can see the previous campaign costs to benchmark their current charges. <\/p>\n\n\n\n

      This helps determine whether the influencer\u2019s current charge is appropriate and for brands to consider raising or lowering their budget.<\/p>\n\n\n\n

      Key Takeaway<\/h2>\n\n\n\n

      Here\u2019s a quick recap of what\u2019s discussed till now:<\/p>\n\n\n\n

      Factors to consider <\/strong><\/td>Qoruz Platform<\/strong><\/td>Agency<\/strong><\/td><\/tr>
      Middle men involved<\/td>No<\/td>Yes<\/td><\/tr>
      Budget saving<\/td>Yes<\/td>No<\/td><\/tr>
      Transparency in influencer cost<\/td>Yes<\/td>No<\/td><\/tr>
      Cost negotiation by the inhouse team<\/td>No<\/td>Yes<\/td><\/tr>
      Cost benchmarking <\/td>Yes<\/td>No<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

      Conclusion<\/h2>\n\n\n\n

      Cost transparency is the key to successful influencer marketing. <\/p>\n\n\n\n

      Platforms like Qoruz attempt to eliminate the middlemen by providing direct access to influencers and their information. <\/p>\n\n\n\n

      Direct access = cost and campaign transparency = efficient and budget-friendly influencer marketing campaigns.<\/p>\n","protected":false},"excerpt":{"rendered":"

      The truth of influencer marketing is it all begins and comes down to cost. Whether starting a new campaign or looking to hire an influencer, one thing is certain: your…<\/p>\n","protected":false},"author":13,"featured_media":1067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[19,1],"tags":[],"class_list":["post-1654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-influencer-marketing","category-inside-qoruz","article","has-background","has-excerpt","has-avatar","has-author","has-date","has-comment-count","has-category-meta","has-read-more","has-post-media","thumbnail-"],"_links":{"self":[{"href":"https:\/\/qoruz.com\/blog\/wp-json\/wp\/v2\/posts\/1654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qoruz.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qoruz.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qoruz.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/qoruz.com\/blog\/wp-json\/wp\/v2\/comments?post=1654"}],"version-history":[{"count":1,"href":"https:\/\/qoruz.com\/blog\/wp-json\/wp\/v2\/posts\/1654\/revisions"}],"predecessor-version":[{"id":1657,"href":"https:\/\/qoruz.com\/blog\/wp-json\/wp\/v2\/posts\/1654\/revisions\/1657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qoruz.com\/blog\/wp-json\/wp\/v2\/media\/1067"}],"wp:attachment":[{"href":"https:\/\/qoruz.com\/blog\/wp-json\/wp\/v2\/media?parent=1654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qoruz.com\/blog\/wp-json\/wp\/v2\/categories?post=1654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qoruz.com\/blog\/wp-json\/wp\/v2\/tags?post=1654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}