A topic that raises a lot of questions among both brands and influencers: how should an influencer price their content and how much do they charge for Instagram collaboration posts?
It is quite difficult to point out specific amounts here as it depends on so many factors. Obviously, the amount of fair fee is affected by Instagram statistics: the higher the number of followers, engagement rate, and reach of posts, the higher the influencer’s price is.
In addition to the number of followers, it’s definitely worth looking at the engagement rate, also: if the influencer’s followers always comment on their posts, respond to stories, and trust their recommendations, working with them is worth a lot more than working with an influencer who doesn’t bond with their followers that much.
What else affects an Instagram influencer’s price?
However, in addition to Instagram statistics, there are other aspects that affect how influencers price their collaborations – since not all of them can be measured in numbers, it is difficult to formulate them.
Here are eight factors that play a role in influencer prices:
1. The number of collaborations on the influencer’s profile
If every second or third post is a collaboration, their followers may no longer take the influencer’s recommendations seriously – which means that a collaborative post may no longer bring expected results for brands.
The fewer collaborations there are on the creator’s profile, the better these carefully selected brands will stand out and the more credible they will seem.
2. Quality of the content
Marketers often work with influencers to get content for their brand’s social media. In this case, high-quality photo material is undoubtedly worth a higher price!
The price also depends on the format: while doing a Story post doesn’t take much time and is usually priced lower, creating a video, including Instagram Reels, is much more time consuming and therefore reflected in the influencer’s price. On the other hand, a video stands out a lot better on social media and allows you to convey more information about the brand, which can be a worthwhile investment!
3. The quality of captions
As a marketer, it’s definitely worth looking at the influencer’s previous collaborative posts as well: the content of captions determines how credible the collaborative posts seem to their followers and what benefits they bring to the brand.
Post captions that feel very promotional or look like product information copied from a brand’s website do not work on social media. On the other hand, captions that connect the product with the influencer’s own life, tell a story, provide valuable information and product recommendations are very welcome to the followers!
4. A project that requires more time
All projects that require more time – for example, travelling/driving somewhere, memorizing a text, professional make-up, hiring a photographer, etc. – are also worth a higher fee.
Also, an increased influencer price is reasonable if the brand uses the face of the content creator in their promotional videos, outdoor media posters, etc.
5. How well the influencer matches with the brand
One of the most important criteria when choosing influencers is the demographics of their audience and how it matches with the brand’s target group. For example, if the campaign is for Finnsih market, it is worth involving content creators whose followers are mostly from Finland – otherwise, a large part of the marketing budget will simply go to waste!
The second aspect is the content creator’s niche or the field they mainly talk about on their account — probably the field that their followers are most interested in and trust the content creator’s recommendations on, simply put – the field in which the content creator has “influence”.
For example, if a content creator constantly talks about self-development and time planning on their profile, it means their audience is also interested in these topics – so a brand operating in the same field would probably get very good results with the given content creator and is therefore worth a greater investment.
6. Free products-services or product credit
If, in addition to the monetary reward, the campaign also includes a medium or high-value product that the content creator would buy anyway, they are likely to deduct it from the monetary reward.
With campaigns where the only fee is a product, it is worth making sure that the value of the product is equal to the content creator’s regular price – otherwise, the influencer feels that the reward is not worth the time and declines the collaboration.
7. Content creator’s relationship with the brand
If the content creator is a superfan of the brand’s product/service, it’s definitely worth including them in your campaign – it means more sincere posts that high-likely bring better results for the brand. In this case, such content creators may charge a lower price than usual because they really want to work with that brand.
If the first collaborations are successful, it’s worth thinking about a long-term collaboration: they perform more trustworthy, are more convenient for both parties, and usually mean a lower price per post or story.
8. How well-know the influencer is
The influencer’s price is also affected by their reputation: celebrities usually get more collaboration offers and therefore choose them more wisely. In addition, posts from well-known content creators can reach the media, which sometimes means many times higher coverage.
Creating high-quality content is time-consuming: with product testing, taking pictures, writing a caption, coordinating the post, and creating stories, it can take hours for one collaborative post! Not to mention the time the content creator has invested in growing their social media account.
In addition, influencers sometimes use photographers, make-up artists, purchase accessories, get up early for an ideal photo, or travel hundreds of kilometres – such factors should also be included in the influencer’s price.
Working with a content creator is like any other partnership: it requires openness, trust and respect. If the content creator feels that the brand values the collaboration – both in terms of the reward and positive feedback, they are motivated to put in even more effort to bring better results for the brand.
If you have any questions about influencer pricing, planning your budget, or the Promoty platform, feel free to contact us – we’d be happy to chat with you!