This evaluates your negotiation skills, business acumen, and ability to manage resources: crucial for a manager handling program budgets.
Show you can research market rates, articulate the non-monetary value your brand offers (creative control, long-term collaboration, cross-promotion), and structure a deal with components like affiliate commissions or product gifting that make the total package attractive.
Situation
While managing social media for a health-food startup, I was given a P30,000 total budget for a launch campaign requiring three nano-influencers, but their initial rate cards exceeded our budget.
Task
I had to negotiate terms to fit the budget while still offering fair value.
Action
I researched each influencer’s past brand deals to gauge flexibility and crafted personalized pitches highlighting the alignment with their personal brand and the creative freedom we offered. Instead of just lowering the fee, I proposed a package: a reduced cash payment combined with additional product value, exclusive discount codes for their followers that could earn them affiliate commission, and permission to reshoot our product in their own style. I was transparent about our budget constraints and emphasized the long-term partnership potential.
Result
Two agreed to the hybrid deal immediately, and the third accepted after we increased the product value slightly. The total cash outlay was P28,000, under budget, and the campaign generated an 11% conversion rate on their codes.
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