The I Am [Dot. Dot. Dot.] Podcast

EP#67: Pricing Power: How to Master Content Monetisation Across Platforms

• Kristen Werner & Mia Steel • Season 1 • Episode 67

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Are you ready to unlock the secrets to setting the right price for your content? 

Join us as we unlock the secrets of effective pricing strategies for content creators! Whether you're making waves on TikTok, Instagram, or any digital platform, understanding how to set the right price for your content is crucial.

In this deep dive, we explore various elements that influence how much you can charge for your user-generated content (UGC) and brand deals. Learn about the importance of audience size, engagement rates, and platform dynamics in determining your fees. Why do some creators earn more than others? We'll discuss the significance of audience value and how it plays a vital role in maintaining authenticity and trust.

Drawing on real-world examples and insights from our UGC Accelerator course, we'll provide you with a clearer picture of industry standards for both micro and nano influencers. Discover the subtle nuances of how engagement rates and alignment with product values can boost your pricing power.

This episode isn't just for seasoned pros; it's also perfect for those just starting out in the content creation world. Join us as we provide you with the tools and knowledge to navigate the complex landscape of digital content monetization, ensuring you maximize your earning potential while keeping true to your audience.

Tune in to elevate your understanding of content pricing and take your digital influence to the next level!

💸 Join our FREE Workshop - Want to Know What it Feels Like to Get Paid as a Content Creator (even as a beginner)?

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Speaker 1:

Okay, welcome to our snackable and delicious content to ease your weekly curiosity. I am just, I'm actually never going to change that word because I feel like each week, when I'm about to say it, you're all going to go. Is she going to do it? Isn't she going to do it? Curiosity is the word.

Speaker 1:

I look forward to it. I'm Kristen Werner, joined by me still, where we are answering your questions, not just UGC, but we're answering your questions that we get inside our Facebook group and our DMs so that you can come in, listen to the podcast, get the answers to your questions, chow down on them and then off you go. So, mia, what's up? What's this week's?

Speaker 2:

question yeah, let's dive straight in. This is a quick and sharp one, but we'll have a good conversation about it is how much to charge. Now, this can vary a lot. But this person said I'm a travel content creator, I've got 147,000 followers on TikTok and 68,000 followers on Facebook. Not bad, not bad at all. Yeah, she's done quite well in the travel niche, which is a perfect niche for content, ugc, brand deals, so she's on a winner here.

Speaker 2:

Now, when it comes to how much to charge, that'll depend. So, ugc, user generated content, the content that doesn't go on your page, generally you can sort of only charge what the industry rate is going, because that content they're not buying your audience or you know your community, so they're just purely buying the content and putting it on their page. So what to charge in regards to that, it really depends on your experience, what the job is, how much, um you know content do they want, so that's going to vary. However, if a brand comes to you and wants you to post a video about their brand on your page so take, for instance, this lady's travel content career. She's got 147,000 followers on TikTok. The brand wants her to post that video on her page in front of her audience. So it feels a little bit more organic.

Speaker 2:

We sort of talk about these as a brand deal, not so much user-generated content. It's still user-generated content because you're a user of the product and whatnot, but you're posting it on your page, but you can charge differently because of your following. It has a bit of pull. So there's lots and lots of variances on this. Some content creators who have massive followings in the millions might charge, you know, $2,000. But then another creator who has the same following might charge $10,000. So there isn't really this sort of industry standard, I guess. Um, it kind of comes down to what the creator wants, how much they um kind of value their audience. They don't want to just become a sellout and post all of these videos about all these products and just make money because you lose your followers, they lose trust with you.

Speaker 2:

Hmm, it also depends on the product. Does it align really well with your audience? What's your engagement rate? You could have 2 million followers and your engagement rate is crap, so you're not going to be able to charge as much as if your engagement rate is high. So there's lots of different variables and generally I don't know how true this is, but I feel like creators with a bigger following on Instagram have a little bit more pull than, say, a following on TikTok.

Speaker 2:

It is quite easy to get a higher following on TikTok compared to Instagram, don't we know it? And there's different audiences as well. Yeah, instagram's fucking hard to grow on. So obviously if you've grown really, really well on Instagram, you've put a lot of effort into that. So I mean, if you have a Google, we teach this stuff inside our user-generated content accelerator course. But you can sort of have a look at what the standard rate is for a micro-influencer, a nano-influencer, you know it kind of has different tiers in regards to how many followers you have. So you can get a bit of a guide as to what you're charging. But there's just so many variances. It's not funny, and I've seen a lot of videos on TikTok of these influencer managers who will say you know, I'm going to post all of the influencer rates that I've been given this week for this particular campaign, and one's 20 grand and one's two grand.

Speaker 1:

So you've just got to I think there has to be something that comes down to I think the engagement would be one of the biggest Like if you had 2 million followers and no engagement, opposed to somebody that has say it was 10,000 and the engagement was incredibly high.

Speaker 1:

That's going to be really different for a brand to want to invest, because they want return on their investment and so they want to see that if they put money into something on your page, it's not just going to sit there and, like you know. I think that's something that is undervalued is we look at the follow figures and go, oh, they must be amazing. But when you dig that bit deeper and like we've got a member inside our community and Tara has built the most incredibly beautiful community that are so responsive and so engaged even over 100,000 followers on Instagram and they are so engaged it's incredible. So she's got now the ability to be able to turn to brands and know that what she says this is what it costs to post on my page is worthwhile because her followers, they love her stuff and they engage in basically everything she does, which would be very different to somebody that had a hundred thousand followers and nothing. So do keep that in mind as well, yeah.

Speaker 2:

Yeah, and brands are highly conscious of that. You know, generally the engagement rate as your account gets bigger, the engagement rate kind of goes down. So sometimes micro influencers have a really, really good engagement rate and will have a bigger ROI for brands to go with them versus the bigger creators. But like Tara, you know she's got a hundred thousand followers on Instagram with a highly engaged audience. You know she's coming into that period of her creator journey where she could charge $5,000 for one post or more.

Speaker 2:

So, it's hard to put a pinpoint price on what you should charge. You'll learn over time what brands say yes and no to. You can slowly increase your rates as you get more experience and more followers, but really, you know, it's that engagement rate that matters the most.

Speaker 1:

Cool, I think that answers that question. We'll call that another wrap as well. So that is wrap for another week. We shall see you next week. Bye, bye. Shit podcast answers that question. We'll call that another wrap as well. So that is wrap for another week. We shall see you next week, bye.