One $10k Brand Deal vs. Ten $1k Brand Deals: Which is Better?
BRAND DEAL SPONSORSHIPS
Sponsorships make the social media world go round.
No seriously! Sponsored ads are the reason audiences are able to enjoy the content for free.
A common misconception about brand deals is that your favorite influencer just picks one, it doesn't matter the brand, and they just run with it.
Well, not quite...
BRAND DEAL STRATEGIES
Let me break it down for you and keep it simple. Content creators basically have two options when it comes to their brand deal strategy.
Go after one brand deal worth a big chunk of money OR
Go after a bunch of little brand deals that are collectively worth, well, the same amount of money
You may be asking “if you end up with the same amount of money in both situations, what's the problem?”
Well, it's not that simple! There are definitely pros and cons to each sponsorship strategy.
PROS OF $10,000
I recently asked a bunch of creators in my private Facebook group, which would you rather have? One $10,000 brand deal, or 10 $1,000 brand deals? And their responses might surprise you.
Let's talk about one $10,000 brand deal.
For starters, it sets the bar high for future brand deals. If you can get one brand deal for $10,000, it gives you more leverage and negotiation power to ask for that same amount or higher with the next one. I'm also a big believer that this can attract more high-quality brands and agencies with real budgets to compensate someone with your expertise.
By the way, knocking out a brand deal worth a lot of dough will really boost your confidence. Just don't get too cocky!
The second pro is it's all about focus, right? Having one brand deal allows you to really focus your efforts on making that campaign super awesome. 10 brand deals may be great, but executing 10 different campaigns with different instructions and expectations can be a tall order.
Even the most hardworking content creator might get stressed out juggling 10 separate campaigns around the same time that are
Unique
Engaging
Effective
Especially if you're trying to put out a consistent amount of organic content, having only one brand deal to worry about allows you more time to focus on delivering for your audience.
Another pro for doing one brand deal for $10,000 is that it allows you to be more selective about the brands you choose and be especially mindful if it's a fit for both you and your viewers.
PLUS
It's going to motivate you to forge a stronger relationship with that brand to build something long-term. And on a side note, for one brand, you'll also need fewer tax forms at tax time. Please don't forget your taxes.
Right now, this kind of deal looks good, but unfortunately, no deal strategy is perfect. Let's look at the cons.
CONS OF $1,000
Right off the bat, you'll likely discover that one big brand deal means you only get one shot to get it right. This is kind of a double-edged sword because even though you can focus all your energy on one campaign if you screw it up, you basically screw up your next big income opportunity.
That kind of dependency can really add extra anxiety to the whole equation. I mean, if you're well-established and you're not as reliant on this money to pay your bills and maybe you might be able to get away with a misfire every now and then. But honestly, the last thing you want is for a brand to lose faith in you.
Our second con is pretty apparent. One brand means less diversity of content for your viewers. Now, if you're a big channel, you may not need a whole lot of sponsor diversity because you have a history with your fans, and you have a good sense of what they want. But if you're new and building your creator identity, you can run the risk of upsetting your fan base if you promote the wrong brand.
In fact, this is kind of an overlap of the first con, which emphasizes how on-point you need to be with this campaign. You only get one shot!
The third con is that you get less experience working with one brand. This one's pretty straightforward. The more brands you're able to put on your resume, the better. If a brand sees that you've only worked with one brand, they may not feel like you have enough experience to work with them. You need to show that you can adapt to different brand identities. All right, but what about 10, $1,000 brand deals?
PROS OF $1,000
So the first pro is that it can actually help with your credit. This is actually really important for new content creators. When you have $1,000 deposited into your bank account regularly, it can actually help you get approved for things like credit cardsandother things. Without getting all technical, it basically tells the bank that you're earning consistent income, so investing in you with a loan or credit is less risky.
Number two, and getting a bit away from the financial stuff, working with multiple brands will build experience. Having various brands in your media kit or portfolio may give future brands the confidence to work with you. It also shows that you're able to adapt to different brands and meet their expectations. Yes, this is one of the few cases where quantity is more important than quality.
Showcasing multiple brands allows your followers to have options.
One viewer may not be interested in this brand, but may be interested in another. I mean, especially if you're just starting out, working with different brands to gauge what resonates with your audience is valuable information that you can use to your advantage.
CONS OF $10,000
So let's talk about the cons. One thing that many creators ignore at their peril is the patients of their audience, especially on social media.
If you're doing a ton of brand deals, you run the risk of overwhelming or even annoying your followers. The double-edged sword strikes again, right? Even though working with 10 brands is great for options, it can be overwhelming to your viewers. Your audience might even start to feel less connected to you and feel like they're part of a focus group as opposed to the experience of enjoying your content.
Another con is that too many brands can overwhelm you. It's true!
Having 10 brands is great, but you risk stressing yourself out to keep up with each brand's expectations. Not only that, but you also need to be successful with most of them. Not doing so well with one or two brands might be okay, but if you've dropped the ball on half of them, you might be in some trouble.
You're gonna need a bigger pouch.
Another con, which is an obvious one, is redundancy. Have you noticed that the same brands are often promoted by almost every content creator in some niches? That's not a coincidence!
Some brands dominate specific markets and content verticals. And it leaves less room for newer brands to breakthrough. So, in other words, you don't want your audience to become desensitized and, as a result, not buy the product or click through to the website. And be honest with yourself and try to anticipate your followers and reactions to any new partnership you forge.
So, can I have a drum roll, please? Should you take one $10,000 brand deal, or 10, $1,000 brand deals?
And the answer is, there's no correct answer. I think you knew that was coming right. The best you can do is evaluate the current state of your creator business. Look at your deal flow, understand your audience, and go from there.
Do you want intel a new brand deal campaigns? Every week I send out sponsorship opportunities exclusively to creators on my email list.
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