Influencer Marketing In 2021 - How To Work With Social Media Marketing

I mentioned that there are two different kinds of partnerships okay and I only talked about one of them the second one I'm going to talk about right now well I use the example.


Virtual Tips For Influencer Marketing


Virtual Tips For Influencer Marketing

Of supplements, for example, okay and you could find partnerships for this, and i and i said yesterday that there were partnerships that essentially take equity to take ownership.


And have a business making decisions and that's not the only type of partnership out there they're actually another kind of partnership that I'll talk about now and I'm going to use supplements.


As an example so in the supplement world right there your products if you own a supplement company you can sell them in gyms you can sell them in stores you could sell them.


In different websites that you don't have ownership over okay as an example, tigerfitness.com tiger fitness owned by mark lobliner right is a website that has an amalgamation.


Of different supplements right different companies different supplements and they sell those products on the website of the partnership right on the partners' website which is tire fitness.


At a cheaper price or whatever the cost may be the cost is irrelevant but the point is that product gets and that company is gaining more exposure right working with tigerfitness.com.


Now that's the second type of partnership is the type of partnership where is a beneficial mutually beneficial agreement right that allows somebody to access your resources.


Or you access their resources without a very high additional cost to you very very separate from the original type of partnership that has extremely high cost a partnership.


For you which is like an equity-type partnership okay this type of partnership is almost like an I'll scratch your back you scratch mine kind of agreement.


Now how does this entail a lot of you guys are selling products right it's fair to say these products you can sell on other people's websites you can sell on other people's stores.


Like physical locations you can sell them in gyms you can sell them in all different places and if you're selling a product that is not a digital product you can absolutely do this.


Now this the only hard part about this is it's gonna take outreach this is going to you're gonna have to reach out your hand to people and you're gonna have to take that leap forward.


Okay, now the way this works is you generally have to have a decent product and you have to have a decently priced product giving them more room for the distributor the person.


That you're going to partner with to be able to sell the product at a higher price or at regular price at map okay now explain what map is map is this foreign concept to a lot of people.


Influencer Marketing In 2021

Influencer Marketing In 2021


But you have to learn map if you want to do this okay so when you take your products and you send them out to your partners right you're going to have something.


You're going to have to have either a lawyer attorney or maybe even if you have some experience in this write this up it is called a map a minimum a pricing agreement.


Right, it is a minimum pricing agreement on pricing right basically what map does okay is this is an article I guess you could say written by a power of attorney or somebody else.


Right written right to essentially enforce that your products will not be sold at a minimum price at a certain price okay you are the one as the owner of that business.


Who sets that threshold so I'll give you an example um let's just take this mouse right here this magic mouse okay let's say I was the owner of apple and I wanted to take my mouse.


And I want to send it out to stores like best buy uh GameStop um you know you guys list out the staples I mean you guys list out the stores and I want this product on the websites.


And I want them in stores okay well as a manufacturer as the owner of the company I have to manufacture the product right so it's gonna cost me to make the product right.


Let's say it's five dollars apiece and let's say I make a million of these products so a million units right so it cost me five million units to create a million five million dollars to create a million units.


Conclusion


Let's just say all right and I want to send some here some their different stores what happens is these companies will essentially compete with each other selling the same product right I'll give you an example let's say I'm a 19-year-old kid who just bought a new uh uh laptop from apple but I need a mouse, okay and in my head, I only want the magic mouse well I have I have a few options I can go to staples I can go to best buy I can go to GameStop or I could search online which online there's a whole bunch of different competitors also might be staples might be the best buy et cetera okay well map agreement basically states

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