Pricing is tricky. We get it.
Some sponsors may visit your social handles and skim through your content. At the same time, they also visit a few more look-a-like creators in your category and compare you with other creators.
Sponsors like to know what value they’re getting before making a purchase decision, so it takes a lot of educating and relationship building in order to convince leads to make a purchase.
To build your successful sponsorship business, setting the perfect price for your branded content is your priority.
To help you out, we’ve analyzed hundreds of creator pricing models with DMs, media kits, and influencer marketing platforms, and the best pricing strategy is as follows.
Think of your sponsorship business with the Freemium business model.
Freemium doesn’t have to start with everything free. Start with almost-free or special low prices to entice your sponsors.
To successfully implement a freemium model, you simply place limitations on certain aspects of your branded content. You can do this in several ways:
The most important thing is that the limitations will leave them wanting more, but not so much that they don’t still see the core value of your branded content.
You can do this in several ways:
It’s no secret that people love sales, coupons, seasonal pricing, and other related markdowns. Especially, when you already have earned-customers like previous sponsors who already tried your freemium content, discounting is the proven method for sellers to win additional sales from them.
Sponsor isn’t only for general brands. Among your followers, commenters, or fellow creators, the small group of superfans will engage with you wherever you currently promote your work. You can also distribute different promo codes to your social media channels, email marketing, and personal websites to reward your superfans.
Whether it’s about local festivals, Valentine’s day, or Black Friday, take the chance to offer something extraordinary for special occasions. How about birthday celebrations for a superfan of yours? Your most passionate fans are super happy to learn that there’s a new and special way to connect with you.
By building your successful sponsorship business with the Freemium model, you have the following advantages.
Among thousands of other creators, you’ve earned the brands’ communication channel. After your freemium branded content delivery, you can always go back and promote your advanced content to them.
There is a notion for “value for money”, which means whether the branded content and overall experience with you were worth the money spent on it.
If you are providing a budget price already, sponsors will be more likely to satisfy with your quality content.
Every sale you make through Creket will be accumulated and reviewed by your sponsors. And those stats and reviews will help you get more sponsors!
If you sell at higher volume, it’ll be much easier for you to sell even more. Creket exposes top sellers on our top explore channel.
The more you sell, the higher you rank and the more you reach to sponsors.
If you price your content too high, you are most likely missing lots of potential target brands. Instead, earn them first with your best deal and take good care of them.
The key for your success is what you do next. Contact them after a few weeks or months and make an additional sale for your plus products from your previous freemium sponsors with special discounts. Giving discounts helps get people in for repeated purchase.
The main goal of using a freemium model is to decrease the customer acquisition cost (CAC) for your business. By eliminating the cost to try out for your branded content, you’re effectively lowering the bar to entry for new sponsors.
Price your content right. Grow your sponsorship business with Creket.