Let’s talk budget… not the most popular aspect, but hopefully we can bring some clarification and light to the budget topic. 

Unfortunately, there isn’t a hard and fast rule to pricing the work of Influencers. We compare pricing everyday and as soon as we feel like we know what someone is going to come back with, we’re proven wrong! The great news, often times Influencers are flexible! If their pricing is near yours, let them know and most of the time they’ll be willing to work within your budget!

Factors that impact pricing:

Platform

The social media platform chosen for the campaign is one of the key factors that influence the cost. Instagram tends to be the top choice for social media influencer marketing. The specific platforms you’d like the content to be shared on will impact the price. It could just be a blog post, or just an Instagram post. Or a blog post amplified across all social platforms. The more reach, or platforms, the higher the price.

Following

The number of followers is still the gold standard for a social media star’s ‘influence’, so the higher the follower count the higher the price tag. We recommend turning to Pinterest for supplementary reach because well-performing accounts typically have high monthly views AND pins drive direct traffic back to blog posts, whereas influencer Instagram posts don’t.

Engagement

Engagement is one of the alternative metrics that brands have been using. The more positive engagement a post gets, the more people will see the post. Influencers who have higher engagement rate are more likely to have a greater reach. The higher the engagement rate the influencer gets, the more expensive the campaign will be.

Product

While this isn’t too much of a determining factor in our industry, the more expensive your product is, the more expensive the campaign will be. 

Campaign

The extent of the campaign will also affect the cost. Here are some things to consider:

• How many posts do you want from the influencer?
• Who creates the content? You or the influencer?
• Do you want the influencer to keep the post on their profile permanently? (Some influencers delete their sponsored posts after the campaign.)

Simply put, the more work the influencer has to do, the more expensive the campaign will be.

As we’ve mentioned previously, the goal and intent of your influencer will drastically affect your pricing. If you have a specific goal in mind, but aren’t sure what you should be setting your budget at, feel free to reach out and we’d be happy to help!