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 followers

·         Mid-tier influencers: 50,000–500,000 followers

·         Macro-influencers: 500,000–1,000,000 followers

·         Mega-influencers: 1,000,000+ followers

Below are the top 5 platforms used by influencers and what percentage of them are using each platform.

·         Instagram (82%)

·         YouTube (41%)

·         TikTok (23%)

·         Twitter (23%)

·         Facebook (5%)

Below are the rough estimates of rates based on platform and number of followers:

Instagram

·         Nano-influencers: $10–$100 per post

·         Micro-influencers: $100–$500 per post

·         Mid-tier influencers: $500–$5,000 per post

·         Macro-influencers: $5,000–$10,000 per post

·         Mega-influencers: $10,000+ per post

·         Celebrities: Varies, but $1+ million isn’t unheard of

YouTube

·         Nano-influencers: $20–$200 per video

·         Micro-influencers: $200–$1,000 per video

·         Mid-tier influencers: $1,000–$10,000 per video

·         Macro-influencers: $10,000–$20,000 per post

·         Mega-influencers: $20,000+ per post

TikTok

·         Nano-influencers: $5–$25 per post

·         Micro-influencers: $25–$125 per post

·         Mid-tier influencers: $125–$1,250 per post

·         Macro-influencers: $1,250–$2,500 per post

·         Mega-influencers: $2,500+ per post 

Twitter

·         Nano-influencers: $2–$20 per post

·         Micro-influencers: $20–$100 per post

·         Mid-tier influencers: $100–$1,000 per post

·         Macro-influencers: $1,000–$2,000 per post

·         Mega-influencers: $2,000+ per post

Marketers should can make their budgets stretch by focusing on using influencers whose followers are most likely in their target market. Another key is finding influencers who don't just have lots of followers, but who have actual influence over their followers' buying behaviors. Social media can be a great way to reach current customers and new prospects.

https://influencermarketinghub.com/influencer-rates/