There is no magic formula or clear answer to how much to pay an influencer/content creator. However, in this blogpost, we will try to determine some factors that impact influencer prices today.
1. SOCIAL MEDIA PLATFORM.
Among all social platforms for earnings, the leading place belongs to Instagram. TikTok is on his heels. YouTube also begins to compete with them with dignity, as today this platform is developing very quickly and opens up new monetization opportunities for bloggers. But Facebook is a little behind them now. For instance, an Instagram influencer/content creator with 50,000 followers could expect to earn more per post than an influencer/content creator with a similar following on Facebook.
Here are some of the average rates for influencers on different social media platforms, based on micro-influencer example: Instagram = $500-1000 per post; YouTube = $600 per post; TikTok = $400 per post; Facebook = $250 per post. Note, these prices are not static.
2. TYPE & QUALITY OF INFLUENCER CONTENT & COLLABORATIONS.
Many influencers/content creators will charge different prices according to the content type (like Reels as it will demand additional creativity) & type of collaborations (like brand ambassadorship). Also, note if you want an influencer/content creator to promote your brand and create content during high-demand periods (Christmas, Black Friday, and Valentine’s Day), you should expect to pay extra rates.
3. NICHE SPECIFIC.
Partnering with an influencer /content creator within a specific niche will position a brand as an expert. Therefore, the choice of a blogger from your industry should be taken seriously. Brands need to find out what niches an influencer’s/content creator’s audience favors and determine if it makes sense to partner with that influencer/content for their influencer marketing campaign.
Expect to pay extra if you want to work with an expert within a chosen niche.
4. EXTRA SERVICES.
Influencer/content creators can add extra services to their flat rate to increase their prices today. For instance: an influencer/content creator can offer a social media post created in collaboration with another influencer/content creator the brand might be interested in. Also, extra services can include free product giveaways/contests, a link-in-bio tool, a caption mention, and brand mentions in an email newsletter. Put these additional services in your influencer media kit so the brands understand how much each service costs.
5. NUMBER OF FOLLOWERS.
The number of followers is an excellent way of identifying a nano-influencer (1.000- 10.000 followers), a micro-influencer (10.000-50.000 followers), a macro-influencer (50.000-500.000 followers), or a mega-influencer (500.000+followers) and their rates. In this context, also pay attention to the influencer’s level of engagement. For some reason, many brands believe that the higher the number of followers an influencer has, the better their engagement rate will be, but it’s not true. Note, if an influencer has fewer than 10,000 followers but with a high engagement rate, he can charge as much as someone who has as many as 100,000 followers with a low engagement rate.
Here are some of the average rates for influencers, based on our partnerships: 1. Nano-influencers = $100 – $500 per post; 2. Micro-influencers = $600 – $1000 per post; 3. Macro-influencers = $1500 – $3.000 per post; 4. Mega-influencers = $4.000+ per post.
Also, here are some payment models:
Cost per post: a flat fee per post/content.
Cost per engagement: brand pays a set rate per engagement on the post.
Cost per click: brand pays a set amount per click.
Pay per conversion: brand pays a % amount of each conversion.
Mix payment model: the most popular and flexible payment model that includes a mix of any of these.
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