Learn how our feature, Klear Pay, eliminates influencer payment barriers and friction, enabling the direct transfer of funds and cutting down the payment time from 90-days to 5-minutes.
Brands and influencers are feeling the impact of COVID-19, from production capabilities to budgeting. With work being done in a very different way, Klear is centralizing an integral stage of the influencer marketing lifecycle to ease the stress of creators and marketers. Klear Pay is an in-app payment solution, enabling direct-payments and acting as your personal finance team.
Table of Contents
How To Easily Pay Influencers
What Is Klear Pay?
How Meltwater's Influencer Payment Tool Will Help Your Team
What Are Influencer Payment Methods?
Easily Manage Your Influencer Payment Process
A Better Payment Method For Influencers
Tip: Learn more about the influencer pay gap, influencer costs and influencer rates per channel, influencer gifting, how to write an influencer marketing brief, and download our free influencer contract template.
How To Easily Pay Influencers
Paying influencers may seem straightforward, but often it can be one of the most overwhelming stages of the influencer campaign. Small payments, paying individuals rather than corporations, handling multiple currencies, and navigating international tax regulations are tasks that require time, manual data entry, regulatory understanding, and cooperation from finance teams. More often than not, the payment process becomes a huge undertaking simply because of the administrative tasks involved.
Payments are a component of the influencer campaign that can be heavily underestimated. Without a proper influencer marketing tool to handle every stage, you can easily get overwhelmed with tasks that seem straightforward but require time, regulatory understanding, cooperation from fiscal teams, and manual data entry. Such tasks include enacting small payments, simply paying individuals, not companies, handling payments in multiple currencies, and navigating international tax regulations. More often than not the payment process requires more time than it should simply due to the administrative tasks involved.
Meltwater's influencer marketing payment solution, Klear Pay, streamlines and centralizes the entire payment process, eliminating headaches and reducing friction. Klear puts the power in your hands by collecting payment information and automating tax forms including W-9, W-8BEN, W-8BEN-E, W-8EXP, W-8IMY, W-8ECI, W-4 or 8233, and providing real-time notification on the status of your payments. Meltwater's mission to centralize all influencer activity now includes payments, so you can leave the technicalities to us and focus on what really matters.
What Is Klear Pay?
With work being done in a very different way, Meltwater is centralizing an integral stage of the influencer marketing lifecycle to ease the stress of creators and marketers. Klear Pay is an in-app payment solution, enabling direct-payments and acting as your personal finance team.
How Meltwater's Influencer Payment Tool Will Help Your Team
- Streamline invoicing by topping up funds to a single payment account
- Reduce administrative burden by allowing influencers to independently provide their payment details
- Make payments to multiple countries and in multiple currencies with just a few clicks
- Automated tax form collection and reports for tax filing give you peace of mind
- Easily export payment log to be shared with finance personnel
What Are Influencer Payment Methods?
Influencers have various payment methods based on their agreements with brands or sponsors. Here are some common ways they get compensated:
- Flat Fee: Influencers may receive a fixed payment for a specific campaign or collaboration. This could be a one-time payment for a sponsored post, video, or other content.
- Commission: Some influencers earn a percentage of sales generated through their unique affiliate links or promo codes. This is common in affiliate marketing collaborations.
- Free Products or Services: Instead of monetary compensation, influencers may receive free products or services from the brand they're promoting. This is often the case with smaller influencers or in-kind collaborations.
- Revenue Share: For platforms like YouTube, influencers can earn money through ad revenue sharing. The more views and engagement their videos get, the more money they can make from ads displayed on their content.
- Sponsored Content: Brands may pay influencers to create content featuring their products or services. This could include Instagram posts, YouTube videos, blog posts, or other forms of content.
- Event Sponsorship: Some influencers get paid to attend events or promote them on their platforms.
Tip: Learn more about sponsorship ROI measurement. - Long-Term Partnerships: Brands may establish long-term partnerships with influencers, providing a steady income stream for the influencer over an extended period.
- Brand Ambassadorships: Influencers may become brand ambassadors, representing a brand over an extended period, promoting products regularly, and building a long-term relationship.
The specific payment method often depends on the influencer's niche, audience size, and the nature of the collaboration. It's essential for influencers to negotiate and clarify payment terms with brands before starting any collaboration.
When running a campaign with multiple partners, navigating the payment process can present many challenges. Navigating different payment methods, deadlines, fees, or currencies requires administrative work that takes away from what really matters. Meltwater’s influencer payment solution centralizes payment activity, lets you easily send mass payments, no matter the sum, at scale, and increases visibility and transparency.
Our payment feature puts you in control of your campaign. It reduces reliance on account payables by giving you the power to efficiently process payments. And, our centralized payment log ensures all team members are updated. That means messy email chains are a thing of the past. We want to ensure that everything you need to run a campaign can be accessed from within Klear, and this now includes payments.
Easily Manage Your Influencer Payment Process
Meltwater's payment solution, Klear Pay, doesn’t just support money transfers, it supports every stage of the payment process. Your finance team will love you.
Tax Compliance
Our new payment solution automates tax form collection. With our AI regulation detection capabilities, our tool identifies the correct form based on an influencer’s location and business structure. All forms are then digitized with the relevant information, and all data is aggregated to automatically calculate withholdings for annual 1099 / 1042-S tax reports. And, for non-US brands working with U.S. and Global influencers, our software supports VAT and ID collection.
Tax forms Meltwater supports: Supports W-9, W-8BEN, W-8BEN-E, W-8EXP, W-8IMY, W-8ECI, W-4 or Form 8233.
Streamline Collaboration
More than streamlining the payment process, our tool is easy to use for you and your influencers. Influencers independently update payment and contact details, verify bank account information, and collect VAT and ID information. Additionally, influencers can choose their own payment methods, currency, and threshold to ensure everything runs smoothly.
Payment Status Transparency
Within the influencer payment hub, the status of each payment is clearly displayed to maintain transparency between both you and your influencer. If an issue arises with a payment, influencers will be notified without having to connect with your finance team. The value of providing real-time payment information boosts influencer trust and helps build lasting partnerships.
Tip: Learn how to use an influencer marketing hub.
A Better Payment Method For Influencers
Many influencers act as the CEO, CMO, and CFO of their own personal brand. This responsibility can get overwhelming when it also requires managing your own finances. Our payment feature helps influencers eliminate payment friction and bottlenecks, by expediting the payment time from 90-days to 5-minutes.
Additionally, Klear Pay acts as your own personal finance team. It lets you, the influencer, select their preferred payment method, putting you in control of you the process. We support 97 different currencies and 6 payment methods to choose from including; ACH, Check, Wire, and PayPal. Once payments are processed they are transferred immediately, and Meltwater sends real-time notifications letting you keep a record of your payment date, amount, and the payment provider. And, you’ll never have to stress about tax documentation, because we automatically generate and collect the required tax forms based on your location.
Influencer campaigns are complex, but they don’t have to be complicated. Learn more about how Meltwater's sophisticated end-to-end technology helps global teams streamline every stage of your influencer campaign.
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