The creator economy continues to grow with no sign of slowing down. With more than 200 million creators worldwide, it grew to a $250 billion industry in 2023 and is projected to double in size by 2027.
Amp recently surveyed U.S. creators to learn more about them as professionals, exploring their brand partnership preferences and pain points. About half of the creators who responded are represented by management, and half do not currently have management.
As influencer program managers, it’s our responsibility to guide our clients toward optimal results in their creator partnerships. We work diligently to identify and collaborate with carefully selected partners who align with our clients’ brand values and target audience. We have demonstrated a proven track record of posting high-performing content that drives engagement and reach.
Focusing on the following four areas helps ensure your creator relationships work harder for your brand.
- A Well-Organized Process is Key
With the growing demand for creators and influencers, nearly 52% of respondents felt overwhelmed with the work required to deliver on their contractual obligations. A disorganized process (27%) or too many revisions (24%) drives this for those overwhelmed. The work keeps coming, with nearly 3 out of 4 respondents saying they plan to take on more paid brand partnerships in 2024.
Separately, 55% of respondents said that they value a well-organized process, so it’s essential for agencies and brands to streamline the influencer program process as much as possible.
At Amp, we have established and optimized processes that ensure fair negotiations, expedited contracting, a clear and concise brief, and automated payment processes.
- Fair Rate Negotiations
The growing demand has allowed creators to increase their rates. Our survey found that creators primarily determine their rates in these three ways:
- My agent determines my rates (30%)
- Based on my total followers (27%)
- Based on my actual engagement rate or reach (30%)
Seventy-three percent of creators said they either increased their rates recently or planned to in the coming months. The top reasons for rate increases include more followers on their channels (58%) and other creators they know have increased their rates (21%). Surprisingly, one in five creators increase their rates around holidays and other peak seasons.
Influencer managers must consider various factors when evaluating and negotiating rates, including the creator’s average reach, content quality, usage, and exclusivity terms.
- Build Mutually Beneficial Relationships
The most successful creator partnerships are mutually beneficial. To help a creator feel valued and genuinely connected to a brand, influencer program managers must acknowledge and respect the expertise and skills they have built.
Creators said that when working with brands and agencies, they most value the opportunity for longer-term partnerships (79%). They also value creative freedom (58%) and fair rate negotiations (58%). The most frustrating aspect for creators when working with brands and agencies is when a brand wants them to make content that feels like an ad (70%). Lack of creative freedom came in second place at 49%.
While these challenges may appear straightforward and seemingly easy to resolve, complexities arise when brands confront pressures from their legal and product teams, making it challenging to navigate through the difficulties.
An anonymous creator respondent said, “Allowing the creator creative freedom brings out the best form of creativity. Work with the creator on the brief to allow them to share how they want to bring it to life and trust them to execute it.”
Another respondent said, “I believe the most challenging issue when it comes to partnerships is tight deadlines and unattainable turnarounds.”
- Go Beyond Social
Consumers will start seeing creator-generated content and influencers appearing beyond their social feed, from websites to email newsletters and earned media coverage. Three of four creators would feel comfortable serving as brand spokespersons for PR media interviews, assuming they are prepared with proper media training.
We’ll see more multidimensional influencer programs as marketers seek value beyond vanity metrics. Finding ways to extend influencer—and creator-generated content beyond social media will be cost-efficient and effective.
For greater effectiveness, creator collaborations should be considered brand partnerships rather than one-off content plays or plug-and-play extensions of a media buy. Adjusting how you see creator partnerships’ value within your marketing mix can unlock new and creative opportunities. If you liked this article, we invite you to learn more about our influencer marketing capabilities.
