Let's dig into pricing settings, Creator Bids, and fees. 💸
Additional helpful resources RE: pricing, Creator payments, etc. can be found here:
How to set Creator Bid options
Within the first page of the campaign brief builder, you'll notice a section labeled 'Creator Bid' where you can edit pricing settings.
No Price Guidance
When No Price Guidance is selected, Creators are able to bid freely for a campaign. Each Creator will bid differently, and many factors are taken into account, including (but not limited to):
- The number of deliverables (many Creators have a rate card they use for pricing)
- Timeline, and how that fits in with their already busy schedule
- Rights to Repurpose content (listed at the bottom of each brief)
- If posting is required: how many followers they have/their ER
- If posting is required: how your post fits into their content calendar
- How much time is required to create a concept, secure talent/product/props, shoot, edit, etc.
Note: you have the ability to negotiate with Creators (adjusting their bid and/or deliverables). Click here to learn more about negotiation.
When a Fixed Bid is selected, Creators are unable to edit their bid amount from what you entered. Creators do not have the ability to negotiate with a brand on pricing, so, only those Creators who are comfortable creating content at that bid should apply.
Note: if you're not seeing as many applications as you'd like to, we suggest changing your pricing settings to 'Suggested Bid' or 'No Price Guidance' to see if that helps. You can always negotiate from there. To do this, contact Support in-platform, letting them know which campaign you're working on and what pricing settings you'd like to use.
When a Suggested Bid is selected, Creators are able to edit their bid amount from what you entered. For example, if you've entered a suggested bid of $500, some Creators will bid $500, others might bid higher at $750 or $2000, or come in lower, at $300 or $400. Creators are encouraged to apply at the suggested bid amount to have a better chance of being accepted into the campaign.
Note: you can always negotiate with a Creator. If they came in above your suggested rate, try negotiating with them before you decline a Creator's application for being out of budget range.
Fees on Creator Bids
Our platform does all of the math for you when it comes to calculating fees and adding them to Creator bids. That being said, let's discuss Creator Bids and the fees that are added on top of those Bids. If, for example, your brand wants to set a Fixed Bid for a campaign, and you've selected $1,000 per Creator, you will need to do a little bit of math if you need that $1,000 to be inclusive of all fees.
For example, if your contract states that you will pay a 10% fee for Support and payment processing, you will need to determine what 10% of your Creator Bid budget is, and remove that from your budget. In this case, you'd find that 10% of $1,000 is $100, so you can actually afford to pay each Creator $900 and we'll add $100 to each Bid in the platform for you, bringing the total spent to $1,000. If you didn't do this math beforehand, your total spent would actually be $1,100 per Creator.
Note: Have questions about your fees? Reach out to your CSM or Support in-platform, we can pull this info directly from your contract. Click here to learn more about how Creators are paid.