If you're wondering if you are being undervalued and underpaid as a creator, the answer is probably yes, especially if you're new to the world of influencer marketing and are a black or POC creator. And before we attract the "why does this have to be about race?" crowd. A recent article by Insider revealed that black creators make 35% less money than their white creator counterparts. At the same time, the pay gap between white influencers and black, indigenous, and people of color was 29%.
So, what can we do to stop the pay inequality for creators?
Do Your Research
It helps to educate yourself about pricing/negotiation based on your following and engagement rate as an influencer. You, as an influencer, are providing brands with free content, editing, talent, videos, creativity, and all the equipment it takes to produce that content which would cause them hundred or even thousands of dollars and time. Charge brands for you as the creator having to produce a picture/video and for usage rights, exclusivity, cross-promotion, length of the campaign, intellectual property, etc.
Companies will take that one piece of content that you created in exchange for gifted products and use it on their social platforms and Facebook ads toward generating dollars into their business' piggy banks. That's why you need to charge your worth and know your value as an influencer. People pay attention and listen to you; that type of influence does not come cheap.
A great tool to keep in your creator toolbox is FYMP.VIP (F**k You Pay Me) ensures pay transparency and that influencers are adequately paid by sharing the deliverable they did for brands and the compensation. It's the equivalent to Glassdoor but for creators, and every creator has to submit at least one review of a brand sponsorship before checking out other reviews.
Partner With An Influencer Manager Or Agency
Handling all the workload of dealing with brands and staying on top of understanding your market value as a creator can be overwhelming. Partnering with an influencer agency or influencer manager who shares your values and possesses the knowledge and experience can be beneficial. Research shows that underpaid creators are less likely to have an agency or influencer manager backing them. We offer influencer management and assistance with getting quality paying sponsorships and partnerships with brands for influencers of various levels.
Be Ready for Brands/Sponsorships
A great way to erase pay inequality is to ensure your business as a creator is ready for brands/sponsorships. You can accomplish this by identifying a niche. That way, you'll easily attract brands looking to reach a specific audience, such as customers interested in fitness or travel.
Prepare your creator portfolio by:
Including your biz inquiry email and name in your social media bio.
Posting consistent quality niche content.
Putting together a media kit that tells brands who you are and what type of content you create.
Be sure to share this blog post with your influencer friends if you found it helpful!