An interesting article in Vox about the process of getting rich from becoming viral. This quote especially caught my eye, buried deep in the article:
“There’s a standard that you should charge 1 to 5 percent of your follower size [per post], and that’s a good place to start.”
Other aspects worth noting on how to determine a valuation include:
- deliverables (does the brand want you to make a video, picture, or story?)
- exclusivity timeline (can you work with competitors)
- timeline of production (how long will it take for you to deliver based on the ask including all production costs?)
At a time where there are portals like Clara that offer Glassdoor-like transparency, it’s fascinating to see how everyone is become their own independent contractor to negotiate rates. Shifting the balance and owning the power dynamic in favor of the creator requires a paradigm shift, generally achieved through the democratization of pricing and information. The more people you share your “salary” with, the more equalized pricing can become.