How Much Do Influencers Cost?
The rates charged by social media influencers can vary widely, and are primarily dictated by 8 factors. Some of them are obvious like the number of followers and the type of content, but some are more nuanced, like how much engagement an influencer creates and if they specialize in an industry. The 8 factors that can be used to roughly determine where influencer rates should be are as follows: 1. Which social platforms are used 2. Influencer Reach (how many followers) 3. Follower engagement (do followers actually convert?) 4. Industry or Specialization 5. Type of content (photo, video, etc) 6. Influencer Demand 7. Usage Rights (can you reuse the content at will?) 8. Exclusivity (can the influencer promote other businesses/products? At a high level, influencers are categorized by their number of followers. · Nano-influencers: 1,000–10,000 followers · Micro-influencers: 10,000–50,000 foll