Overview
When setting up a campaign, brands can define a contract review threshold in order to take a pass at reviewing more expensive contracts before we send them to the creator to sign. If we want to issue creators that exceeds the contract review threshold for the campaign, we'll create a new Task for you called Contract Review.
Process
When creators submit bids for a campaign, they submit their bids for a Packages. A Package is a combination of one or more deliverables that match the set of formats applicable for a campaign. So for example, if your campaign includes TikTok videos, YouTube Shorts, and IG Reels, a creator might submit one Package with just a bid for a TikTok video, and then one Package that includes a bid for a video cross posted to IG Reels, TikTok, and YouTube Shorts.
When we submit offers for Packages to creators, if ANY of the of the offers exceeds the contract review threshold for the campaign, we'll create a Task for contract review. The Task will look something like the view below:
Sample Contract Review Task
In the above sample Task, you can see that the creator has submitted three different Packages. Within each package you'll see:
Deliverables. This will include usage rights if you're requesting upfront usage rights.
Reason / Feedback. In case you want to share any additional context with 1stCollab. The Reason / Feedback is not shared with the creator.
Max Offer. The max offer price you want us to submit to the creator. To help you submit a price, we include the creator's asking price along with our Recommended Price. Our suggestion to you is to go with our Recommended Price, which is why we automatically populate your Max Offer with our Recommended Price.
Check off the Packages you're interested in submitting offers for. Press "Approve Offers" to submit selected offers at the Max Price specified within each package.
Selecting "Decline All" will decline all Packages for the creator.
Overdue Contract Reviews
In the upper right you'll see a due for the contract review. If a contract review is not completed by the due date, we'll submit an offer to the creator at our recommended price.
FAQs
Can I renegotiate with the creator after submitting an offer?
Can I renegotiate with the creator after submitting an offer?
Yes, if the creator has rejected your max offer you can submit a new offer to the creator on the Creator Progress page.
The recommended price is way below the Creator's asking price. Is there actually a chance the creator will accept the offer?
The recommended price is way below the Creator's asking price. Is there actually a chance the creator will accept the offer?
While we've seen creators take >95% discounts on their initial asking prices before, it's generally unlikely a creator will accept an offer >50% below their asking price. That said, our Recommended Prices only take into account our predicted ROI for the creator and not the creator's asking price. If our Recommended Price is significantly below a creator's asking price, we suggest sticking with our Recommended Price when submitting a Max Offer unless you think a particular creator is a great match and want a higher likelihood of the creator going into contract.
Can I wait to get a large batch of contract reviews before responding to them?
Can I wait to get a large batch of contract reviews before responding to them?
In order to both be respectful to creators and provide the brand with the best shot at getting creators into contract, we require that brands complete all Contract Review Tasks before the deadline, otherwise we'll proceed with submitting our recommended price as a counteroffer to creators.