Jeremy and I recently attended VidSummit, an awesome conference that brings creators, brands, and agencies together for wonderful networking and learning opportunities. We loved getting to meet so many fun and influential creators, and we hope to be able to develop our friendships in the years to come.
Jeremy gave an extremely valuable presentation during the conference, and we want to share that information with you here. If you have any questions about these materials, shoot me an email or set up a time to discuss your questions.
WHAT ARE YOU WORTH?
The first step in strategically negotiating valuable brand deals is to accurately determine your current worth. If you do not know what you are worth, or if you are so anxious to do brand deals that you are willing to accept less than you are worth, brands and others in the industry will be anxious to take advantage of that. As one of the keynote speakers (Gary Vaynerchuk) noted at the conference, most creators are significantly underpriced, and brands are eager and willing to capitalize on that.
So, how do you figure out what you are worth? Here are several tools you can use to answer that question:
Social Bluebook is a great starting place to determine your platform valuation. Using factors such as the engagement, reach, viewership, watch time, and demographics of your platform, Social Bluebook provides a well-reasoned estimate of what you are worth.
We highly recommend that you take advantage of the knowledgeable YouTube consultants willing to help.
Consultants such as Derral Eves, Tim Schmoyer, and Benji Travis / Sean Cannell can help you estimate the value of your channel and make strategic decisions regarding brand deals.
YouTube consultants are an extremely underutilized resource in the industry. We encourage you to reach out and see how they can help you.
3. Ask Questions
One of the most effective things you can do to determine the value of your channel is to ask calculated questions. Specifically, ask agencies and brands that reach out to you what rationale or formula they relied on to calculate their initial offer. This will provide insight regarding what factors, analytics, and other information they look at to determine your value.
In addition, it can be extremely helpful to ask your friends in the industry about the deals they are doing and how they have estimated their value. You may be surprised how willing others in the industry will be to help you properly assess your channel's worth.
4. What Do You Believe You Are Worth?
Taking time to look in the mirror and figure out what you believe you are worth, and why, is a must. Don't just assume the brands and agencies are going to offer you what you are really worth! We frequently speak with creators who are willing to do a deal for less than they are worth simply because they don't realize what they are leaving on the table. We love helping them see their value, confidently make a counter demand, and report back happily that their demand was accepted. Now, they have a new starting point for their next negotiation!
5. Johnston Law
At Johnston Law, we are anxious and committed to help creators maximize their value and make deliberate decisions with brand deals. With the insight of an extremely successful YouTuber who has grown a channel to over a million subscribers and personally negotiated and completed many brand deals, and as attorneys, Johnston Law can offer unique and proven guidance to help you determine and increase your value by assisting with brand deals and other legal needs. We would love to visit with you! Consider scheduling a consultation now.