How To Make Money With Fashion Nova

Influencers are paid extremely differently. Some just get some free products for their work. Basically, this type of payment is expected from small companies, but online shop Fashion Nova also seems to be stingy with its own influencer budget.

Influencer marketing is big business, especially on Instagram. You don't have to have millions of followers to get paid for posts and stories. So-called micro influencers also enter into cooperation with companies and earn money in this way. There is a lot of uncertainty about how much an Instagram post or story is worth. For some time the topic has been in the public eye more often. For example, we recently reported on an Instagram account that anonymously published the payment of various influencers. Now have multiple sources Business Insider opposite what the online fashion store Fashion Nova pays the influencers.

Grown up through influencer advertising

Fashion Nova was able to build itself mainly through influencer advertising. The online shop has cooperated in recent years with over 3,000 influencers started, including celebrities like Cardi B and Kylie Jenner. But a partnership with large accounts is rather the exception at Fashion Nova. The New York Times reported Last year that the strategy mainly consists of sending free products to small accounts who in return post photos of the clothes. While this is often a popular way for smaller companies to work with influencers, the industry standard is now different.

Business Insider spoke to five talent managers who, through their collaboration with influencers, know which prices are common and which Fashion Nova offers in comparison. They all stated that the payment of the online shop was well below the normal level:

Generally, we find Fashion Nova will usually offer values between five and 10 times lower than the typical rate a talent would receive elsewhere. Then, the negotiations usually go in circles for months without going anywhere and usually ending in no opportunity, just wasted time because Fashion Nova will refuse to budge.

Despite these allegations, Fashion Nova is one of the top brands in influencer marketing, working with numerous micro and nano influencers. The influencer marketing platform CreatorIQ found out that Fashion Nova worked with around 1,182 influencers in 2020, resulting in over 5,700 sponsored posts. CreatorIQ estimates the value of these posts to Fashion Nova at over $ 15.5 million. In October, Fashion Nova worked with 122 influencers, which puts the online shop in third place after H&M (176 influencers) and Nike (128 influencers) among the companies that most frequently work with influencers.

How much money do big influencers get from Fashion Nova?

The interviewed managers were able to give two campaign examples which clearly show how much Fashion Nova is willing to pay the influencers.

Campaign 1:

4 Feed Posts
2 Instagram Stories inklusive Swipe-up

Pay: The influencer should not receive any payment for these six posts, only eight different products. The influencer's account had over 100,000 followers, according to the manager, who wants to remain anonymous. Typically, other brands would pay over $ 10,000 for such a campaign.

Campaign 2:

7 Feed Posts
4 Stories inklusive Swipe-up
5 YouTube Videos

Pay: Payment was $ 8,000. The account had over a million followers on Instagram and YouTube. As the manager who shared these numbers said, other brands would pay $ 10,000 for one of the Instagram feed posts, which is more than Fashion Nova was willing to pay for the whole package here.

The big problem with free products for work

The problem in the industry is that too few figures are known and no standards have been set. One pays based on the number of followers, the other based on the engagement rate and there are influencers who are busy producing content for hours and those who have obviously made no effort. The fact that especially small companies prefer to send out a few free products and hope for some content is therefore all too understandable, but with large companies like Fashion Nova, the standard should be different. However, there are enough small influencers who feel flattered that they are even noticed by such big brands. But Fashion Nova reserves the right to continue to use any content it has created – a clause that is actually no longer common in contracts with influencers, reports one of the respondents. It is debatable whether the services that are mutually provided are fair.

Fashion Nova seems to be doing well with the business model, but anyone who wants to work successfully with influencers in the long term should meet them on an equal footing – and offer fair payment. Then they may stay loyal to the company even if they have higher follower numbers at some point.

Source: OnlineMarketing.de by onlinemarketing.de.

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