Introducing PriceBox: The Ultimate Influencer Pricing Technology
An integrated tool for estimating fair rates for influencer collaborations.
How Much Should I Pay an Influencer?
If this is a question you’ve asked yourself, you’re not alone. And, you’ve come to the right place.
Budgeting can be a major roadblock for campaign managers. While influencers have become an extremely marketing channel, the industry is still developing benchmarks and standardized KPIs.
It is known common practice for marketers to rely on data to analyze the impact of their campaigns. This means identifying areas of success and areas for improvement. But, we believe that data shouldn’t just be a tool that is used after a campaign goes live. Data should be incorporated during all stages of your influencer campaign, from planning to launch, and of course, estimating influencer rates when planning your campaign budget.
To help solve the age-old question of, “how much should I pay my influencer?” We’ve created a data-driven tool, PriceBox, that immediately identifies your influencer’s rates in a matter of seconds.
PriceBox can be used as a standalone tool, to research prices. Or when vetting your influencers, you can now see rates immediately integrated into a profile.
PriceBox: Influencer Pricing Calculator
We always say Klear is the “ultimate influencer marketing tool”. That was a bit tech-jargony, we know. But, now we are putting our money where our mouth is, and really offering the ultimate feature that will enhance your influencer marketing journey.
How was that for jargon?
For real now, PriceBox is a machine learning technology that determines an influencer’s rates using thousands of interconnected factors including (but not limited to):
- True Reach
- Audience Demographics
- Audience Authenticity
- Past Collaborations
These factors are then analyzed against one another using a sophisticated machine learning technology and then compared to paid media rates in order to predict the most accurate fee for an influencer. The goal of this tool is to ensure that brands receive the best ROI out of an influencer collaboration, and influencers receive fair compensation.
Traditionally Follower Count has been the main metric used to identify influencers and determine just how influential they are. But the truth is, follower count has little to no correlation to the influence of a social media user. This is a metric that can be easily manipulated and says nothing about the strength of an audience or the likelihood to generate engagements. For this reason, there needs to be standardized industry KPIs that are used to determine influence and how to compensate influencers.
How Do I Use Influencer Pricing Technology?
There are many ways you can use pricing technology to support your influencer marketing experience.
An influencer pricing tool will not only help you predict how much to pay your influencers but will allow you to predict your campaign ROI. The ability to predict campaign spending and impact will dramatically improve your influencer selection process, ensuring you collaborate with those with the highest impact.
PriceBox can be used during the influencer vetting process as the tool is also embedded within an influencer profile, or during rate negotiations.