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How Much Do Instagram Influencers Charge?
Instagram influencer marketing offers many benefits to a company’s marketing strategy. Promotional posts through Instagram influencers help you connect with new audiences, increase sales volume, and create brand awareness.
If you’re thinking about starting an Instagram influencer marketing campaign, you may be wondering how much Instagram influencers charge per post. Having an estimate of the cost per post will help you get an idea of how much you should budget for influencer marketing. This article will outline everything you need to know.
How Much Do Instagram Influencers Charge?
The typical cost-per-follower on Instagram for a promotional post is $10 per 1,000 followers. Paying for promotions on a cost-per-follower basis will help you create a budget for the amount of reach you want to get from your Instagram influencer marketing campaign.
However, influencers with high levels of engagement may demand a higher cost-per-follower rate, since their followers are more likely to take action. Other aspects that can affect how much influencers charge are:
- Type of post
- Commission rates
- How ads are integrated with an influencer’s content
- The influencer’s niche
The next sections will detail how each of these aspects affects influencer pricing.
How the Type of Post Affects Cost
Influencers may charge different rates for different types of posts or content. Instagram posts like stories, reels, or videos create different types of engagement and consumer interactions. This can lead to higher or lower costs per post depending on how an influencer’s audience interacts with certain types of content.
How Commission Rates Affect Influencer Pricing
Some influencers may ask for a commission percentage of sales they generate. Paying a commission can be an excellent way to incentivize performance in influencer marketing. Some influencers may even agree to a fully commission-based contract, which can benefit companies, since there is less upfront cost.
How Ad Integration Affects Cost Per Post
Branded promotions can be integrated with an influencer’s content in different ways. For example, some influencer posts may be completely focused on reviewing or talking about a brand’s product or service, resulting in higher costs, since the promotion is a more significant part of the content. Other posts may only showcase the brand as a small part of the content, resulting in a lower cost per post.
How the Influencer’s Niche Affects Pricing
Certain niches may have higher or lower costs per post. This is due to how followers interact with different types of accounts and content. For example, an influencer in the tech niche will likely request higher rates per post than a content creator who runs a meme page. This is due to niche specificity and the types of purchases that would be made by followers of these accounts.
People who follow a tech page would likely be more willing to make expensive purchases of tech products. On the other hand, people who follow a meme page may have a variety of interests or product needs that lead to influencer ads being less relevant or engaging for their audience.
Cost-Per-Follower Instagram Formula
If you follow the general base rate of $10 per 1,000 followers, the formula for cost-per-follower would be: (number of followers ÷ 1,000) x 10 = cost of promotional post.
For example, if an account has 50,000 followers, their cost to promote a brand in one of their posts would be $500 (50,000 ÷ 1,000 = 50 x 10 = $500 cost per post).
Price Ranges for Different Types of Instagram Influencers
Instagram influencer rates in 2022 for different types of influencers are:
- Nano influencer rates (1k – 10k followers): $10 – $100 per post
- Micro influencer rates (10k – 100k followers): $100 – $1,000 per post
- Macro influencer rates (100k – 1 million followers): $1,000 – $10,000 per post
- Mega influencer rates (1 million+ followers): $10,000+ per post
Using these price ranges, you can determine what type of influencers are right for your budget.
How Much Commission Should I Pay an Influencer?
Paying an influencer a commission can be a great way to incentivize them to sell your product to their audience. Adding on a commission to influencer contracts can also lower the upfront cost of your influencer marketing campaign compared to charging a base monthly or per post rate.
Instagram influencer commissions typically range between 5-30%. However, commission rates can vary depending on the niche, the product, and the influencer. For example, Instagram influencers in niches where high-ticket products are being advertised can generally negotiate higher commission rates per sale.
How Much to Charge for Usage Rights in Influencer Marketing?
When an influencer posts a brand advertisement in their content, they still own the exclusive rights to the image, video, or audio used in the post. However, you can opt to pay influencers extra to own the exclusive rights to the content yourself, which gives you control over how the content’s imagery, video, and audio can be used in the future.
The rule of threes is a good rule of thumb for how much you should charge for usage rights in influencer marketing. This means that if you want to own rights to the content forever, you would pay three times what the influencer’s usual rate would be. For example, if a promotional post would cost $100, you would pay the content creator $300 for full rights to the content.
How Lionize Can Help with Influencer Marketing
Lionize AI provides an easy way to connect with influencers, negotiate rates, and set up influencer campaigns. Our artificial intelligence software helps you through every step of the influencer marketing process while providing you with actionable insights along the way. This will help you create the right budget and an influencer marketing strategy that will lead to success. Book a Discovery Call with us today to learn more about how Lionize can help you.
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