Unlocking Transparency in Influencer Marketing: Influencer Prices
We've always believed that understanding the landscape of influencer marketing should be as clear and simple as possible. With Creable, we have already built the foundations for achieving that. You have been using our platform to comprehend the audience demographics and high-level performance metrics of any creator across the globe. You've also been navigating the murky waters of content nature and audience relationships with our features – Creator Quality Control and Audience Sentiment Analysis. But there’s one piece of the puzzle that we haven't yet addressed - pricing.
Imagine walking into a high-end store, admiring the latest designer collection, only to realize there are no price tags. It becomes difficult, doesn't it? To truly value an item, you need to understand what it costs. Would you still consider the same creators if their prices suddenly tripled? Or would you give a second glance to a creator whose views are 10% lower than another but who charges 80% less? Assessing the performance of a creator without a clear picture of their pricing is an incomplete evaluation.
This is why we're taking the leap to enhance our platform by integrating influencer pricing information, and here's how it’s going to work:
1. Estimated Prices for All Creators:
First, we'll be introducing estimated prices for all 300M creators globally. Although these estimations, calculated based on accurate prices creators charge per view on their respective platforms, may be a broad-brush approach, it's a crucial starting point. They might not consider factors like content quality or IP and could sometimes be off the mark. However, they're a significant improvement from having zero information.
2. Real Prices from Creable Users:
Next, we're opening the platform for you, our Creable users, to contribute to this information bank. Whether you're a brand or an influencer agency, you can now add real prices that creators have charged you in the past. This valuable data will be visible to all users, creating a collaborative and transparent pricing environment.
3. Validation of Real Prices by Creators and Managers:
Most importantly, creators and their managers will have the opportunity to validate their real prices. This ensures that the data presented is not just estimated or added by users, but confirmed by the people who matter the most – the creators themselves.
That being said, we do understand that influencer pricing isn’t just a simple multiplication of views and cost per mille (CPM). The realm of negotiations, custom deals, and unique collaborations will continue to exist. What we aim to do is bring a level of transparency to this industry that benefits everyone involved, and simplifies the process of identifying potential misalignments from the get-go.
One final note of caution: a race to the bottom for the lowest CPMs will only result in sub-par campaigns. A high CPM does not necessarily equate to low price efficiency. The key is to identify creators who offer the best price-value ratio. It’s not about being cheap, it's about being smart. Just like everywhere else in the business world.
We are excited to see the changes this will bring to the industry, fostering transparency, integrity, and making influencer marketing that much simpler.
