Influencer Pricing: How Much Are Influencers Really Costing in 2023? (2023)

Influencer marketing is one of the most effective ways to reach your target audience, especially on social media platforms. But influencer costs can vary wildly depending on your business goals, industry, platforms you target, posting frequency, and more. How can you find the right influencer for your brand without breaking the bank?

In this article, we'll share 8 factors that affect influencer rates, the average influencer rates for the most popular social media platforms, the types of influencer partnerships you can get, and how to find an influencer to work with you to drive your brand. to the next level.

Influencer Fees: How Much Are Influencers Really Costing in 2023?:

8 factors that affect influencer rates

There are a number of factors that can affect how much an influencer charges for their services, and it's rare to find an influencer charging a flat fee. Influencer marketing is a legit business and influencers set their fees based on what brands will pay. While our list doesn't cover everything that determines how much an influencer can charge, here are the things you can count on to make an impact:

• Influencer reach and engagement
• The channel they use
• How many posts you want and whether they include things like images, videos, and audio
• How much effort will it require from the influencer?
• Where the ad will be cross-promoted/posted
• Agency fees (if the influencer is with an influencer marketing agency)

Let's take a look at these parameters and more so you can get a better idea of ​​what you're paying for.

1. Social media platform

Some influencers may charge the same fee for the same type of post regardless of the channel they're used on, but fees are much more likely to vary. After all, eachsocial media platformit has a different type of audience and the creator features also vary from platform to platform.

2. Reach of influencers

Reach is how many people the influencer has access to from their platform. This is largely based on how many followers or subscribers the influencer has and how many they have the potential to reach. Most of the time, the more followers an influencer has, the higher their rates will be.

Influencers fall into certain categoriesaccording to your scope:

• Nanoinfluenciadores:1,000 to 10,000 followers
• Microinfluencers:10,000 to 50,000 followers
• Mid-Level Influencers:50,000–500,000 followers
• Macroinfluencers:500,000–1,000,000 followers
• Mega Influencers:1,000,000+ followers

You may see variations of this split (some marketers consider a micro-influencer to start at 1,000 and don't label nano-influencers that way).

3. Follower Engagement

You will find that influencer fees fluctuate based on how much engagement an influencer generates on their organic versus sponsored content. You might think that influencers with the most followers willget better engagement rates, but this is usually not the case.

Take a close look at how much an influencer's audience actually engages and interacts with their content. The more engaged your followers are, the better for your message.

4. Sector or Specialization

Obviously, you'll want to find an influencer who specializes in the industry you're in. of them before? Popular niches (beauty and fitness, for example) will have more influencers available, and the price will likely be lower than niches with fewer influencers available.

You can also take a look at the industries preferred by an influencer's audience to make sure it makes sense to hire them for your brand.

5. Type of content

The type of content you ask an influencer to create will also impact pricing. This is because influencers will need to spend time, energy and resources creating the content, and different types of content require different things. This includes considerations such as how much content the influencer will need to create and whether he or you will provide the necessary resources. The more effort it takes to create the content you're requesting, the more you can expect it to cost.

6. Demand from influencers

If you are asking for aseasonal social media campaign, you can expect it to come with a premium price. This is standard economics: high demand leads to higher rates. You may also run into this issue outside of seasonal campaigns if you're interested in a particularly popular influencer.

7. Rights of use

if you planreuse an influencer's content, be sure to discuss this with them in advance and outline the terms of the leverage agreement. Some influencers charge more for content that will be reused. Think of each use as an individual product: once you've used the product by getting the influencer to post a video about your brand on their Instagram account, you'll have no product left to use in your Facebook ads.

8. Exclusivity

Influencers earn money by promoting different businesses. You can choose an influencer that your competitor also wants to use. In this situation, you can ask the influencer to sign a non-compete agreement or exclusivity clause with them.influence contractwhich will prohibit them from promoting a competitor for a certain period of time. But, you better be prepared to pay. A little too, since you're essentially asking them to give up other potential revenue.

How much do influencers earn per post?

As we already mentioned, the amount that influencers earn depends on a few factors. Here we share average influencer earnings per post based ontype of influencerand social media platform.

According to thissource, the top 5 social media platforms for influencer marketing are:

• Instagram (93%)
• tik tok(68%)
• Facebook(68%)
• YouTube(48%)
• Gore(32%)

Let's take a look at the average payout on each of these platforms for influencers at each of the levels described above.

Instagram

Want to see a specificinstagram influencerto see if you can afford to bring them? Or maybe you're an Instagram influencer who wants to get a better idea of ​​how much to charge? use ourInstagram Influencer Earnings Calculator!

YouTube

AnyYouTube influencerscharge based on video views (charge $50-$100 per 1000 views).

tik tok

TikTok is very new to the influencer game, so there's no neat, tidy way to determine how much influencers earn. after lookingTikTok Influencersthat fall into these categories, we include estimates.

TikTok has many influencers who aren't necessarily celebrities but still have tens of millions of followers. These influencers can earn upwards of $10,000 per post. If you have your eye on a specific TikTok influencer, simply enter their username in ourTikTok money calculatorto see how much they average per post.

Gore

Facebook

Types of influencer associations

Now that we've talked a little bit about influencer fees, you might be wondering what you'll get for your influencer marketing dollars. In this section, we'll show you the types of influencer partnerships available. Remember that every influencer is different, uses different platforms and interacts with their audience through different formats; so check with your desired influencer to see if the influencer partnership you are looking for is something they do.

Greetings

ONEshout outIt happens when you pay a user to promote your brand or product on social networks. They may or may not have visual elements such as videos, images or GIFs and can be used for any call to action (typically more sales, more followers for your brand, or more traffic for your website). Paid shoutouts are a classic influencer marketing tactic.

gifts

Giveaways are another popular influencer marketing tactic. They are short-term, typically generate a lot of interest, and add value to both you as a brand and the influencer. Giveaways occur when a brand provides the influencer with something of value that the influencer can offer their followers through a giveaway or contest. The result is usually increased brand awareness and potential customers.

platform acquisitions

Takeovers are most popular on TikTok, Instagram, and Snapchat. This is when brands give an influencer access to their social media channel of choice. The influencer can then curate content for the brand and send their own followers to the brand's account so they don't miss out on what is often referred to as "exclusive" content.

affiliate marketing

Affiliate marketing has been around for a long time, hasn't it? It works just like you'd expect influencer marketing to do: an influencer promotes a brand's product and earns a commission based on sales through the influencer's platform. This is skewed a bit in favor of brands, as the influencer only gets paid for actual sales. brands likeUse of influencers for affiliate marketing.because having a payment tied to a production like that tends to make influencers more enthusiastic about your product.

sponsored content

Sponsored content is an influencer partnership that you can leverage whether or not your brand has a lot of content ready to share. You can alsocreate content for influencersto share or engage them to create and publish content for your brand. Remember that it will cost more if the influencer also has to create the content.

Seeding products or gifts

Product seeding happens when brands submit products to prominent influencers and expect the influencer to share something positive about it. While this partnership might work with nano-influencers or micro-influencers, influencers with the most followers definitely expect brands to woo them a little more.

brand ambassador

The partnerships we mentioned above can be used for both short and long term influencer partnerships. You can even get your chosen influencer to agree to discounted rates for a longer deal. If you arelooking for a brand ambassadorHowever, you are definitely looking for a long term solution.

With these partnerships, influencers have likely been using your products for some time and are already excited about your brand. As a brand ambassador, influencers will constantly be sharing videos, posts, images and more about your brand and products over an extended period of time. Over time, they tend to become the "face" of your brand, sochoose your brand ambassadors wisely.

How to Find an Influencer You Can Pay

Finding the right influencer for your brand is a balancing act between what you can afford and influencer fees. As such, it really helps to think about your budget before you start looking for influencers. if you don't know how muchlataspend, it will be much harder to figure out if the influencer you like will fit your budget while you need it.

There are a few things to consider when setting up your budget, namely your influencer marketing goals and whether or not you will be using influencer marketing tools or an influencer marketing agency.

Influencer marketing objectives

How much you should budget for influencer marketing depends a lot on thegoals you want to achieve with your influencer marketing campaignsand the tactics you'll use to get there. Some common goals are to improve brand awareness, increase social engagement and generate more sales. Once you've set goals and have a plan of attack, you'll be better equipped to identify influencers who can meet your needs within your budget.

Influencer marketing platforms

there are tons ofinfluencer marketing platformsyou can use to find influencers for your brand. there are really manyfree influencer marketing toolsthat help brands find influencers based on filters and search parameters.

influencer agencies

There are also severalinfluencer marketing agenciesthat exist to connect influencers with the brands that want to hire them, but their services don't stop there. These agencies will help brandscreate an influencer marketing strategy, execute this strategy and manage your influencer marketing campaigns. Because they work so closely with influencers, they have a great understanding of influencer rates and can help brands find a great influencer that is within the brand's budget.

What to look for when pricing an influencer

As we mentioned earlier, influence rates can vary greatly. To ensure an influencer requests a fair price, brands need to consider:

• Influencer Marketing ROI
• Past campaign performance
• Standard Influencer Pricing and Fees

Influencer Marketing ROI

One of the best ways to determine if you're paying the right amount for an influencer ismeasure the ROI of your influencer marketing campaign(Return on investment). ROI is the percentage or dollar amount your brand gets back on its investment.

For example, if you invest $1,000 in your influencer marketing campaign and you get $7,000 back, that's a good return. If you spend $1,000 and get $2,000 back, you might decide that another marketing channel will give you a better return.

Influencer results and influencer pricing tables

While being able to see the ROI is great for deciding whether to continue an influencer relationship, more often than not you will need to decide whether to hire an influencer before knowing what your ROI will be. In those cases, you'll need to take a look at what your target influencers have done for brands similar to yours.

We also encourage you to request influencer reports from each influencer you contact. These cards will show the fees each influencer charges. With these cards, you'll be able to keep an eye on influencer rate patterns.

Ending

The average earnings we've included here will give you an idea of ​​how much influencer marketing will cost. But it's important to remember that costs vary depending on your industry, content needs, social media platform, reach, engagement, and more.

Ready to get into influencer marketing? Check out this collection ofbest influencer marketing agenciesfound to start today!