The past decade saw the rise of the influencer marketing wave. Today, this wave has hit almost all the industries. Most brands now consider influencer marketing a crucial aspect of their social media advertising strategy, and all for good reason!
Today, the influencer marketing industry is one of the most successful ones out there. Everybody from individuals to small businesses and large enterprises use them. But have you ever wondered how much these influencers cost? Let’s find out!
But before that, let’s take a look at some of the things that influence the costs!
Factors That Affect Influencers’ Rates
There is no one-size-fits-all when it comes to influencers’ rates. It depends on several factors:
- The type of content you want them to create. This could be a post, a story, a video, a live session, a blog post, and so on. The rates will depend on how much time and resources the influencer would have to spend on the content.
- Their follower count. The more followers an influencer has, the more you can expect them to charge.
- Their engagement rate. Engagement rate is more valuable than follower count and is a more accurate measure of an influencer’s reach. An influencer might have only 10k followers but a huge engagement rate. So, the higher the engagement rate, the higher the price.
- Specialization. If you want a highly specialized/ expert influencer from a particular field, you should expect to pay more.
- Exclusivity. If you want your influencer to sign a contract agreeing to not work with your competitors, their cost will likely be higher because you are essentially asking them to give up other potential incomes.
- Usage. If you plan on using the sponsored content later as an ad, the charges will likely go up.
- Social media platform. Depending on which social media platform you want the influencer to post in, the rates may vary.
- Cross channel posting. If you want your influencer to create/ post content across various channels, their rate will increase.
Now, let’s take a look at how much influencers cost in 2022 and how their prices vary across different platforms!
Cost of Influencers on Instagram
|Type of Influencer||Follower Count||Rates Per Post|
|Nano influencers||<10k||$10 – $100|
|Micro influencers||10k to 50k||$100 – $500|
|Mid-tier influencers||50k to 100k||$500 – $5000|
|Macro influencers||100k to 500k||$5,000 – $10,000|
When it comes to other types of content, influencers generally set rates based on engagement rates and story views. According to Later, a popular travel influencer who has more than a 100k followers charges $200 per story! In contrast, a micro influencer charges $85 for a series of 5 stories.
Cost of Influencers on YouTube
YouTube influencers tend to be a bit pricier than Instagram influencers. This is because creating a sponsored video needs more work than creating a post. On average, you can expect to pay $20 per video per 1000 subscribers.
|Type of Influencer||Number of Subscribers||Rates Per Video|
|Nano influencers||<10k||$20 – $200|
|Micro influencers||10k to 50k||$200 – $1,000|
|Mid-tier influencers||50k to 100k||$1,000 – $10,000|
|Macro influencers||100k to 500k||$10,000 – $20,000|
Instead of charging based on subscriber count, some influencers prefer charging based on the number of views. The rates usually come out to be $50 to $100 per 1,000 views.
Cost of Influencers on TikTok
While youTube influencers tend to charge the most per video, TikTok influencers come in a close second. Again, this is because creating a video is more time-consuming than creating a post.
|Type of Influencers||Follower Count||Rates Per Video|
|Nano influencers||<10k||$5 – $25|
|Micro influencers||10k to 50k||$25 – $125|
|Mid-tier influencers||50k to 100k||$125 – $1,250|
|Macro influencers||100k to 500k||$1,250 – $2,500|
|Influencers with over 1M followers||1M+||$10,000+|
TikTok has several influencers who are not celebrities but still have millions of followers. These influencers have the freedom to set their own rates and they often charge more than $10,000 per post!
Cost of Influencers on Facebook
Facebook influencers have a very dynamic pricing chart. At the nano-influencers level, it is one of the cheapest platforms to advertise on. However, as you go up towards the mega-influencer level, it tends to become more expensive than Instagram. On average, $25 per post per 1000 followers is the norm.
|Type of Influencers||Reach||Rates Per Post|
|Nano influencers||<10k||$25 – $250|
|Micro influencers||10k to 50k||$250 – $1,250|
|Mid-tier influencers||50k to 100k||$1,250 – $12,500|
|Macro influencers||100k to 500k||$12,500 – $25,000|
Cost of Influencers on Twitter
Twitter has a huge user base and is the platform used by several celebrities. And where there is potential, there is a way for influencer marketing.
But Twitter is slightly different from the other social media platforms out there. Users don’t stick to a certain niche and follow people of all kinds. This means that it is hard for influencers and celebrities to have followers belonging to the same niche.
Because of this, influencer marketing on Twitter is not as effective as it is on the other platforms. Consequently, influencer costs are also cheaper here! On average, you can expect to pay $2 per tweet per 1000 followers.
|Type of Influencers||Rates Per Tweet|
|Nano influencers||$2 – $20|
|Micro influencers||$20 – $100|
|Mid-tier influencers||$100 – $1,000|
|Macro influencers||$1,000 – $2,000|
|Influencers with over 1M followers||$5,000+|
Instead of charging money, some new influencers who want to grow their follower count may also accept free products in exchange for a review. Some others, on the other hand, may want a percentage of profits. Brand ambassadors may ask for a monthly salary.
So, it is important to discuss how much an influencer charges and how they would like to be paid. You can do this by requesting an influencer’s rate cards which are usually included in their media kit.
Keep in mind that these rates are just to give you an average idea of how much influencers cost in 2022. The actual costs will vary based on several factors. But knowing the average cost will help you determine your budget and choose what type of influencer to work with!
Finally, we come to the million dollar question..
Is Influencer Marketing Worth It?
Yes, without a doubt. In fact, in today’s day and age, it is one of the most effective ways to advertise your products and increase brand awareness. Why? Because consumers tend to believe recommendations given by real people over brand advertisements.
So, don’t hesitate to work with influencers. Choose an influencer in your niche within your budget, and get started! Here’s a guide on how to find influencers. Don’t forget to share this article before you go!