Do you wonder what the Instagram influencer rates are? How much Instagram influencer marketing costs? How much you should pay an influencer? For most people this is still unknown territory. There is actually no set formula for determining how much you should pay an influencer. The costs for a campaign are also very different, because it depends on how the campaign is organized.
Rates: How much do Instagram influencers charge?
Do you wonder what the Instagram influencers charge? How much Instagram influencer marketing costs? How much you should pay an influencer agency? For most people this is still unknown territory. There is actually no set formula for determining how much you should pay an influencer. The costs for a campaign are also very different, because it depends on how the campaign is organized.
|Number of followers||25-50K followers||50–100K followers||100-250K followers||250K–1M followers||1M+ followers|
|Instagram influencer rates||$800-$1500||$1500-$2000||$2000-$6000||$6000-$10.000||$10.000+|
How much do shoutouts cost on Instagram?
The shoutout method works as follows, first we’re not talking about the usual shoutout method in which two influencer Instagrammers of equal size name each other in their story (this is also a good method, but we will tell more about this another time). The method we’re talking about is a targeted (paid) shoutout campaign. This means: promoting your profile through large, prominent pages within your industry. This sounds easy, but there are some aspects you should keep in mind: finding the right pages, making a strong promotional photo or (even better) video of your page and finally your page must be attractive enough.
As you can see influencer shoutouts are a lot cheaper than Instagram posts, the reason is that shoutouts are often removed from the account within the foreseeable future.
|Number of followers||100-500K followers||500K-1M followers||1M+ followers|
|Instagram shoutout costs||$250||$1.000||$1500|
Both the Instagram influencer cost and the rates for shoutouts are averages, the actual rates may differ. Sometimes the differences are large because, for example, the engagement rate of a certain influencer is better than the other, this makes the value of a certain Instagram influencer higher and therefore the rate.
Other examples of Instagram influencer partnerships
So, we’ve discussed Instagram posts and Instagram shoutouts, but naturally these aren’t the only two examples of Instagram influencer partnerships available. When a brand decides to start with influencer marketing they have to think about influencer marketing strategy and corresponding campaign tactics that will work best for them. You probably wonder what types there are, which is why we have put a number of them together for you.
Have you ever participated in a Giveaway on Instagram? Probably yes. These types of campaigns are often short-term and very popular as they are simple to set up and bring both value to the influencer as well as the brand. The brand gives the influencer something nice to offer to their following, whereas the influencers provides the brand with increased brand awareness and probably even leads depending on the way the giveaway is set up.
Now that brands have more confidence and experience with Instagram influencers, takeovers are becoming more popular. With a takeover a brand gives an influencer full access to their social media channels so that the influencer will be able to curate content for your brand for an agreed period of time.
If you’re working in marketing, you’ve probably heard of affiliate marketing, you might even have experience with affiliate marketing. Affiliate marketing relies on partners (in this case influencers) in promoting a brands’ product or service. When a purchase is made initiated by the influencer, the influencer receives a commission or will get paid as per the agreement. For brands, the benefit of this type of influencer marketing is that the influencer gets paid for making an actual sale happen. This encourages an influencer to enthusiastically post about your brand.
Some brands already have a lot of great content available that just needs to be exposed to an audience. Partnering with an influencer could be a good idea. If you’re a brand that doesn’t have a lot of content available you can partner up with an Instagram influencer to create and post content for your brand.
You might know this type of influencer marketing as product seeding. You send your product to one or more influencers and just hope that the influencer will post something (positive) about it. Some micro-influencers are still super excited when they receive free products, which give you great visibility at low costs. Unfortunately, most influencers with a larger following expect the free product + an additional fee. If you also want to increase sales and you’re not just looking for brand awareness you can add a promotion code to the gift so that the influencer can offer your product with a discount to their following.
Sponsored blog post
Many potential customers are looking for information online before making an actual purchase. Where blogs are perceived as a trustworthy source of information. No wonder, brands are not only focusing on Instagram influencers, but also seek out for bloggers to reach their target audience. With sponsored blog posts, brands pay influencers to write an article about their product or service.
A distinction can be made between two types of sponsored blogs. One is a posts that is dedicated to your brand, it type of blog post / article only talks about your brand. The other type is a blog post where your brand is mentioned in a blog posts with other similar products or services.
Both types improve your visibility, but one more than the other.
Whereas sponsored blog posts are written by the influencers themselves, guest blog posts are writing by the brand. Find one or more influencers in your industry that are open to posting your article on their blog. Another option is not to look for blogs but for websites in general that publish articles related to your industry. Guest blogs generally increase your credibility as well as your authority and exposure.
All the types of influencer marketing stated above are also suitable for short-term influencer marketing campaigns. Ambassadorships are absolutely not, that’s one thing that’s for sure. With brand ambassadors we are talking about a whole new level of influencer marketing. Brand ambassadors are usually already enthusiastic about your product, the only thing you as them is to keep sharing images, videos, posts, articles about your product for a longer period of time. In this way they become one of the faces of your brand. Because of this, make sure you pick the right one 😉
Instagram influencer pricing factors
Although it is difficult to give a concrete answer to these questions, there are a number of guidelines that are used by many marketers, agencies and influencers. In this blog we discuss several factors that influence the costs of influencer marketing.
There are a number of factors that actually always influence the costs of an influencer campaign. If you understand these factors well and know how they affect you, it is easier to calculate a price for a campaign. Let’s start!
Instagram or other social media platforms?
Which social media platform (s) you deploy has a major influence on the costs of the campaign. The costs for influencers differ enormously per platform. For example, it generally costs less to use influencers on Instagram compared to YouTube.
Instagram is most often used for influencer marketing, followed by YouTube and SnapChat. Facebook and Twitter are used a bit less often; the same applies to a platform such as Pinterest. But, of course it is possible to use a platform that isn’t used for influencer marketing that much.
One step back, when talking about online advertising, the potential reach of an advertising channel is often an important factor for brands to determine how much money they want to spend on an advertising campaign. When you compare this with influencer marketing, it is generally about the same: reach. Influencers look at their number of followers when they determine a fair price.
The more followers an influencer has, the more reach can be achieved.
Although the reach of an influencer is often used as a starting point, this is not the only factor that influences how much an influencer charges. Nowadays, brands know that it is pretty easy to buy fake followers to increase your number of followers and ask for a higher amount. It is therefore wise to take into account several factors such as likes, comments and shares.
The influencer’s commitment is one of the other factors that can be looked at in addition to the number of followers. Commitment is the number of likes, comments and shares added together in one post. If influencers have a high commitment on average, this means that their followers are very involved, which will definitely have a positive influence on a campaign.
The type of product or brand that you want to promote can also influence the costs of a campaign. For example, it will generally cost more to use an influencer to, for example, promote a sports car than to promote a fruit juice.
Finally, the size of the campaign also has a major impact on costs. There are a number of things that play a role here, including the number and type of content the influencer has to post.
As you can see, there are no fixed “rules” for how many influencers get paid, there are guidelines that many marketers look at.
In a Digiday article guidelines are given for the costs for influencers on different platforms. Although you can never fully assume it is a good indication. Keep in mind that these figures are based on data from American influencers and companies, and that this is not completely the same in the Netherlands.
Top 5 Highest paid Instagram influencers
With Instagrams’ never-ending growth, 2019 has seen the record amount of money for paid Instagram posts to date.
This shouldn’t come as a surprise as majority of Instagram users say that they learn about new products and services via Instagram.
But, what are these numbers? And who are the best paid Instagram influencers at the moment?
1. Highest paid Instagram celebrity: Kylie Jenner
Showbiz entrepreneur Kylie Jenner receives over $1 million per sponsored post on her Instagram, making her the best-paid influencer on Instagram. This is evident from the Instagram Rich List compiled by Hopper HQ.
2. Ariane Grande (influencer & Top40 music star)
Jenner is followed by singer Ariana Grande, who can bill a little under $1 million per sponsored post.
3. Cristiano Ronaldo (influencer & football legend)
Star footballer Cristiano Ronaldo is also doing well with around $975,000 dollars per post.
4. Kim Kardashian (influencer & Instagram celebrity)
Number four on the list is Kim Kardashian, who charges $975,000 per post.
5. Selena Gomez (influencer & Top40 music star)
For a long time, Selena Gomez was the most popular celebrity on Instagram. But, not any more, with the increasing popularity of the Kardashians and other pop sensations, she’s fallen to a fifth place on higher paid influencers on Instagram. She can ‘only’ charge $886,000 per post.
Even though the ROI of every influencer marketing campaign differs, many studies found that for each dollar spent on influencer marketing, an average of $6 to $7 is earned in return. Hence why influencer marketing keeps on growing.
Related article: Influencer Marketing Agency Los Angeles