Have you ever wondered how much it costs to hire a Social Media Influencer for your business? How much do you need to pay and are there certain rates that you can choose from?
With the prevalence of social media and digital space in the consumer’s lives nowadays, traditional mediums of advertising such as television, and radio don’t cut it anymore. Influencer marketing is the jam if you want your brand to actually resonate with your desired audience.
In this article, you will learn more about the price range for Instagram Influencer Marketing.
For starters, there are many factors that would affect the price range for a certain campaign. One factor is how a campaign is laid out and how long the campaign would run for. It would also depend on the number of followers an influencer has.
Types of Instagram Marketing Campaigns:
- Instagram Post
- Instagram Shoutouts
- Affiliate Marketing
- Sponsored Content
- Sponsored Blog Oost
- Guest Blogging
- Brand Ambassador
This chart gives an idea of how much an influencer can charge you based on the number of followers they have.
|Number of Followers||25-50k followers||50-100k followers||100-250k followers||250k-1M followers||1M+ followers|
|Instagram Influencer Rates||$800- $1,500||$1,500 – $2,000||$2,000 – $6,000||$6,000 – $10,000||$10,000+|
However, you must also consider the type of account the influencer has and if they’re catering to a niche or general audience. Their rate also depends if they were already a celebrity even before starting the account or only gained fame afterward. However, the pricing above is indicative of the average pricing of influencers in the US.
Shoutouts are stories, videos, or posts, where an influencer mentions your brand account.
|Number of Followers||100-500k followers||500k- 1m followers||1M+ followers|
|Instagram Influencer Rates||starts at $250||starts at $1,000||starts at $1500|
The rate is fairly lower than an Instagram post mainly because shoutouts are often removed from the account within a span of time.
These are short term campaigns and is a very popular technique in increasing brand awareness. It’s very simple to set up and can do tons of exposure to both influencers and brands. In this campaign, the brand gives the influencer something they can offer to their followers. This creates increased brand awareness and even new leads.
In this strategy, a brand gives an influencer full access to their social media platforms so the influencer can organize your brand at a specific amount of time.
This technique partners businesses with influencers in promoting their products and services. When a purchase is made, the influencer will receive a commission.
This allows you to partner up with an influencer to create and post content for your business. They can also create exposure for your brand if you have a lot of content available and just needs a boost and be known.
Also known as product seeding, you would need to send a free product to influencers in the hopes that they post something positive about it. Now, while some influencers are excited to receive free items, some may expect a minimal fee for this.
Sponsored blog post
This will allow influencers to write an article about your product and services. It can be done by a dedicated blog post for your brand or it can be mentioned along with other similar products.
Influencers in your industry will post your articles on their blog. It can also be done thru websites that are related to your line of business.
This is a long term engagement with the influencer since they will be the face for your brand. These influencers are already using your product so it would be easier for them to talk about it.
In conclusion, there are really no fixed rules when it comes to the amount of budget you need. The rate for Instagram Marketing will vary depending on the duration and size of the campaign, followers they have, and commitment they would like to give your brand. In reality, the more work it requires, the more costly it becomes.
Do your research and be on the lookout for companies that offer these services at a fraction of the cost but with a minimal fee.
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