How to manage multiple brand deals as an influencer

Influencers have become an increasingly popular way for companies to market their products and services. Brand deals are now commonplace and offer a great way to increase your visibility and boost your profits.

As the industry continues to grow, so does the opportunity. Working with one brand may be pretty straightforward, but adopting a multi-brand strategy can seem overwhelming. If you go down the multiple-brand route, you need to successfully juggle the different brands while still delivering the quality of content that your followers expect.

In order to manage multi-brand deals as an influencer, it's important to plan and be organised. Have a clear idea of your objectives and establish processes for how you will communicate with brands, track progress and meet deadlines.

Whether you’re working as a solo entrepreneur or part of a team, having an organised system in place to manage multiple brand deals will help ensure you’re maximising the benefits of each deal. Multiple brand management is much easier with the right tools, planning, and strategies.

In this article, we will be discussing the best ways to manage multiple brand deals effectively. With a little bit of effort, you can maximise the potential of your brand deals and take your business to the next level.

What is a multi-branding strategy?

For an influencer, a multi-branding strategy is an effective marketing tactic to boost visibility and profits. It entails promoting multiple brands or products on your channels, either under the same company or from different companies. Usually, the brands/products will fall within the same sector, e.g. food, fashion, and tech.

A 'branded house' approach is when you work with one parent company promoting different brands within their brand portfolio. You could choose to mention the parent brand in your communications or just the sub-brands. This comes down to negotiation with the relevant brand managers.

Alternatively, you could work with several different companies to promote brands that complement each other. In this instance, it is vital that there is no conflict of interest, i.e. the brands should not be direct competitors and have distinct target audiences.

Multiple brand management does have a degree of complexity, but with the right strategy, planning and organisation can be very lucrative for influencers, whether they are working alone or as part of a team.

What are the benefits of a multi-brand strategy?

Brand partnerships present a unique opportunity for influencers to leverage their network and reach in exchange for brand association or payment. These partnerships allow influencers to make money while simultaneously creating brand loyalty, boosting exposure, and earning trust from their followers.

This can be achieved through various channels, such as sponsored posts, influencer-led ad campaigns, exclusive discounts and more. Through these strategic partnerships, influencers can build strong relationships with brands that not only benefit them financially but also enhance their status within their industry.

How should I prioritise multiple brands?

When it comes to managing multiple brands, it is important to consider which revenue streams you should prioritise.

There are several key factors to consider:

• First and foremost, it's important to then consider the reach of each brand. Does it have a large existing customer base, a wide presence in the market and a strong online presence? These factors will determine which brands are likely to generate the most income, e.g. from sales, an ad campaign etc.
  
  
• Consider the potential for growth. If a brand is likely to reach more potential customers and generate more revenue over time, it could make sense to focus more resources on it than on one that is more static in terms of revenue.
  
  
• Look at the commitment level of the brands involved. Do they have long-term agreements in place, or are they more short-term deals? Long-term agreements are advantageous because they provide a more stable income stream, while short-term deals may be profitable but also more unpredictable.
  
  
• Think of the resources available to you. Do you have the capacity to handle multiple deals simultaneously? If not, it may be best to focus your energy on one or two new brands to devote your attention to.
  
  
• Consider the cost associated with each partnership. If a particular revenue stream is likely to generate a lot of income but is also costly in terms of time or money, it may make more sense to focus on revenue streams that are less expensive.

Ultimately, when it comes to managing multiple brand deals, it is important to prioritise the revenue streams that will provide the most value to your business. By considering the reach, commitment level, resources available to you and costs, you can ensure that you make the best decisions for your brand.

5 ways to successfully manage multi-brand deals

Managing multiple brands can be a daunting task, especially for influencers with a large following. It is important to have a clear view of your objectives and stay organised so that you meet the commitments set out in your contract, stay true to your own brand identity, and meet the needs of your followers.

Here are Capture Accounting's top 5 tips on how to manage multiple brands:

1. Hire an accountant that specialises in helping influencers
   
   
2. Before embarking on a deal with new brands, it’s essential to have control of your finances. It's wise to consult a specialist influencer accountant, like Capture Accounting, to ensure that your revenue and expenses are properly accounted for. They can also help you forecast the projected profits and costs associated with brand deals and how it impacts the finances of your business.
   
   
3. Some specialist influencer accountants, such as Capture, offer full Virtual Finance Office service to help you implement cloud accounting software such as Xero or Quickbooks. Cloud accounting software is a great way to produce professional invoices, ensure that they are sent out on time and track their progress. It's easy to use and can save you time and money by automating the process. In addition, professional invoices with the right VAT treatment will help to gain credibility with the brands that you work with.
   
   
4. Have a clear idea of your goals and objectives
   
   
5. Before you take on multiple brands, it’s important to evaluate your goals and objectives. This can help you determine which brands you should invest in and which ones you should avoid. Plan for how you will handle each separate brand to get the most out of the deal. Will you take a 'branded house' approach or work with more than one company? Are you looking to be compensated or for a brand association?
   
   
6. Approach negotiation wisely
   
   
7. This stage of the process involves designing contracts and negotiating prices and terms. In order to get the most benefit out of brand partnerships, it's important to negotiate carefully so that your goals are not compromised and so you are compensated properly. Have a strong understanding of your leverage and evidence of your influence. State clearly how you will track the success of the partnership. Having an experienced negotiator on hand can help you secure the best deals and ensure that all parties are satisfied.
   
   
8. Rule out conflicts of interest
   
   
9. When managing a multi-brand campaign, it's essential to rule out any conflict of interest. This applies to your own brand and the brands you are working with. Ensure that no two brands share the same target audience; otherwise, one could end up cannibalising the other, which is of no benefit to you or the companies involved.
   
   
10. Communicate regularly and clearly
    
    
11. Establish a good working relationship with the chief marketing officer of the parent company and the various brand managers involved. Confer with them regularly to share results and assess the success of each campaign.

Capture Accounting can support you in your multi-brand partnerships

At Capture Accounting, we work with influencers and content creators like you to help you understand your finances, capture your business expenses, deal with multiple sources of income, and even liaise with tax authorities outside the UK.

We do this with the aim of making sure you keep more of what you earn so you can focus on what you do best – creating content for your audience. If you find yourself overwhelmed with handling multiple brand deals all at once, we can help.

Book a call with us to find out if we're the right accountants for you.

Conclusion

As one of the fastest-growing industries in the world, the demand for influencer marketing is increasing. Many brands want to work with influencers to get their marketing campaigns in front of the right people, but not all influencers are prepared to work with multiple brands.

If you’re already working with more than one brand and want to continue to do so, it’s essential to create a system that makes it easy to track and manage each brand’s progress. This will help you to be sure that you’re getting the most out of each and every opportunity, as well as mitigate any potential conflicts of interest.

If you found this blog useful, check our free guide about avoiding money mistakes influencers make!