In the world of marketing, this is a question floating around often these days. Influencers are the new word-of-mouth marketing. In fact, 37% of consumers trust social media influencers over brands, according to a 2022 study from Oracle and CRM Essentials. Social media influencers are integral part of social media marketing. We all know the value of influencer marketing — but how much should you pay social media influencers? In this article, we will break down how much you should pay influencers per post depending on the social media channels and how many followers the influencer has. However, every influencer is different and there are different types of influencers. The amount per post might change from one influencer to another. Let’s discuss how much to pay social media influencers as part of your social media marketing strategy.
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Influencer Marketing
An influencer is a person who has a high level of authority, knowledge, or expertise on a particular topic or industry with a large amount of followers on social media. Influencer marketing is a form of social media marketing that involves paying influencers for posts endorsing your brand, products, or services on platforms like Facebook, Instagram, Twitter, Snapchat, YouTube, and TikTok. Influencer marketing campaigns are highly successful. Influencers are able to “influence” social media users on various social media platforms into purchasing your product or service.
How Much Should You Pay Social Media Influencers?
While this is a guide to how much you should pay social media influencers, it is not a one-size-fits-all model for how much to pay social media influencers. Each social media influencer will determine their own prices and can charge based on various factors. There are several factors that determine how much influencers charge per post. For example, the price will vary greatly depending on if you are hiring mega influencers like a Kardashian sister or nano influencers to promote your brand, product, or service. However, the key factor that affects how much you pay each influencer depends on which social media platform is best to help you reach your brand. You need to choose an influencer who shares the same target audience or particular niche as your brand. The cost of sponsored social media posts varies widely.
How Much to Pay Facebook Influencers
Facebook remains the top social media channel, with more than two billion active users. The average price for a Facebook post from an influencer runs for about $25 per 1,000 followers for each post. However, many influencers set their own prices (or their agencies do, if they are represented by one) and can charge more depending on various factors, including social media platforms.
How Much to Pay Instagram Influencers
Though Facebook has the most active users of any social media website, Instagram is the most popular channel for influencers. According to Instagram, 90% of active users follow a business on Instagram. And the popularity of sponsored ads and Instagram partnerships is rising. For that reason, you might need to pay an Instagram influencer more. If an Instagram follower has between 3,000 and 10,000 followers, they might ask for between $75 and $150 per post. However, if they have upwards of 100,000 followers, that price goes up to above $600 per post.
How Much to Pay Twitter Influencers
Twitter has a smaller audience than Facebook and Instagram, but brands still use it to connect with their target audience. However, it doesn’t come with as high of a price tag. On Twitter, the average cost of a post is $2 per post per 1,000 followers. So, a Twitter user with 10,000 followers might charge $20 per post, and an influencer with a million followers would charge at least 2,000 per post.
How Much to Pay Snapchat Influencers
With more than 319 million daily active Snapchat users, you might think that you would have to pay Snapchat influencers as much as Facebook or Instagram. However, the average charge is about $10 per story per 1,000 followers. Sometimes, the price of a Snapchat post is determined by the view count of each story.
How Much to Pay YouTube Influencers
You might not have considered YouTube as an influencer platform, but it is very effective. For example, you might pay a makeup influencer to film a tutorial using one of your new products for YouTube. The average cost for an influencer on YouTube is about $20 per video per 1,000 subscribers. However, this price can vary greatly depending on several factors, like creative mandates and production templates. Once an influencer reaches more than one million YouTube subscribers, the price goes way up.
How Much to Pay TikTok Influencers
Since TikTok is relatively newer compared to these other social platforms, the average prices per influencer and post can vary greatly. Some influencers charge based on the number of views per TikTok video, while others charge similarly to Facebook and Instagram and charge $25 per post, per 1,000 followers.
Micro and Macro Influencers
Before you decide how much you should pay social media influencers, it is important to know about the different types of influencers there are. This helps you decide which best aligns with your brand and goals.
Micro Influencers
As the name suggests, micro influencers often have fewer followers (typically 10,000 or fewer.) However, micro influencers have a loyal follower base that speaks to a niche market. They might be regarded as an expert in a certain industry. Even though their following is not as large, they usually have an extremely authentic following and higher levels of engagement. You also typically will not have to pay a micro influencer as much per post.
Macro Influencers
On the other hand, macro influencers are more famous people like celebrities or social media personalities who have a huge fanbase of anywhere between 250,000 to one million (or more) followers.) While utilizing a macro influencer can increase brand awareness on a major scale, macro influencers come with a much higher price tag and lower rates of engagement. So, how much do stars get paid to post pictures on Instagram? For example, Kim Kardashian’s estimated cost per Instagram post is $910,000.
Free Influencer Marketing
If an influencer doesn’t have a ton of followers yet, or is already a fan of your brand, you might be able to arrange to give them free products in return for posting. However, in this instance, the influencer might not end up posting at all, and you will not have access to data and analytics if the influencer does not choose to share them.
Tips for Choosing an Influencer
Look for an online influencer whose audience aligns closely with your brand and your own target audience. Always do your research! You can ask influencers for information like their metrics, what they have previously done with other brands, and to see insights from their previous collaborations (or “collabs” as they are often called.) Be sure to evaluate each influencer individually and make a data-driven decision. All of these factors can help determine the price tag of a post, as it will vary from influencer to influencer.
Influencer Marketing at SEO Design Chicago
If you want to launch your own influencer marketing campaign, SEO Design Chicago can work with your brand to pair you with the right influencers. We offer influencer marketing services for companies to help boost brand awareness and sell more products and services. Contact us today!
FAQ:
- What is influencer marketing?
- How much does an influencer post on Instagram cost?
- How much should I pay for a TikTok?
- Is it possible to get free influencer marketing?
- What are micro influencers?
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