5 Tips for Influencers to Negotiate Terms with Brands
Negotiating terms with brands can be daunting for influencers, whether it’s your first campaign or you’re an established pro. The brands have teams of lawyers at their disposal who are preparing and negotiating their contracts, so make sure that you are well equipped with legal counsel too. It is important to have an experienced lawyer review and advise you of the grey pitfalls hidden between the black and white lines of a contract. As such, one of the essential tips for influencers is to consider seeking legal counsel to guide them in their dealings with brands.
Your legal counsel will take the heavy lifting of negotiating with the brand which allows you to focus on moving your business forward. Here are five key tips to keep in mind while working with brands:
1. Know Your Worth
Research and compare your engagement figures with other influencers. This will give you a better sense of your worth and provide leverage in setting campaign rates. It is also important to ensure you understand how you will be compensated and if there are any actions or scenarios where your compensation will be revoked.
2. Have a Well-Crafted Contract
Ensure the contract outlines all aspects of the arrangement, including timeline, deliverables, payment terms, and usage rights/restrictions. Consult with a lawyer and get advice on what language needs to be included to ensure that your interests are protected. For contracts, you will want to get an attorney to review every line before signing or agreeing to anything. It’s easier to make edits to an agreement than it is to get out of one especially when working with larger brands who have endless resources to litigate disputes.
3. Get Everything In Writing
Never rely on verbal agreements or understandings; everything should be clearly stated in writing, so there is no room for confusion or misinterpretation later on down the line. This also means having actual written documents and not simply back-and-forth conversations in private messages on Instagram Direct Messages, Facebook Messenger, or emails. Having a signed document reviewed by a legal team with your best interests and goals in mind will keep everyone accountable throughout the campaign.
4. Negotiate Fairly
While knowing your worth is important, remaining open-minded when negotiating terms with brands is equally essential. Try not to become too entrenched in asking only for what you want; find areas where both parties can benefit from a deal that works well for both sides. It is important to discuss both your long-term and short-term goals with your attorney so they can help negotiate a global agreement between you and the brand.
5. Retain Professional Representation
Retain legal counsel to begin to create this important relationship and get the assurance and advise needed to help achieve your business goals. It is advised to seek legal counsel with all collaboration and partnership contracts and agreements, but especially for more complex deals or collaborations involving more significant amounts of money. By having knowledgeable guidance from someone familiar with these types of contracts, you have more protection against being taken advantage of by brands who may try to shortchange you on payments or otherwise violate the spirit of the agreement between you. The brands have their best interests in mind, your influencer-focused legal counsel has YOUR best interest in mind.
These five tips are just some basic guidelines for negotiating deals between influencers and brands in today’s marketplace landscape–keeping them in mind throughout your dealings should allow you to reach mutually beneficial agreements that prioritize fairness, transparency, and potentially future opportunities!
Begin creating your relationship with legal counsel, who will provide personalized assistance regarding entering into negotiations as an influencer. The team at Influencer Counsel offers focused legal services tailored toward the area of influencer law, which can make all the difference when it comes time to sign any collaboration and brand partnership contracts!