What’s the best Instagram influencer pricing? This is one of the questions thousands of marketers are asking these days.
With the rise of social media, marketing has taken on a different landscape.
It is no longer what most people think—celebrity endorsers telling fans to support products that they promote. These days, more marketers are seeing the significant value of hiring social media influencers.
What are influencers? What do they do and why do brands depend on them to help increase brand awareness and revenue? Can you become an influencer?
If you go through YouTube, Facebook, Twitter, and Instagram, you will find a lot of people who are not famous but have a huge following. They are not actors, actresses, recording artists, ramp models, and rappers, yet thousands and even millions follow them.
Who are these people and why do people subscribe to their social media pages?
On Instagram, there are more than half a million influencers. This consists of almost 40% of users with more than 15,000 followers.
You might think that creating a presence on Instagram is easy. How difficult could it be, right? Take a few great pictures, post them on your account, and wait for other users to start following you.
Well, it does not work like that.
Making an account and posting is just the easy part. Getting people to follow you and increasing the number of your followers to thousands is tough. This is what Instagram influencers have already accomplished—that’s why brands tap them for their marketing needs.
Popularity is what brands pay for when they hire Instagram influencers. One question you might want to ask, though, when you are considering to partner with an influencer is how much do you have to pay?
Also, how much does it cost to tap into their popularity for your marketing needs? Read on and find out.
What is an Instagram influencer?
Before you find out more about the best Instagram influencer pricing, you should first understand who and what they are. Influencers are people who can affect the purchasing decisions of others. They do this with the help of their knowledge about a specific niche and their engagement with their audience.
For Instagram, its influencers use their images and their captions to give people a story. They tell a story about products, experiences, and places that they feel people would want to know more about. They can persuade their followers to either buy or boycott whichever brands they post on their feeds.
Small, average and power influencers
Small
Small influencers have less than 15,000 followers. However, you can’t scoff at these people for having a limited following. Their audience belongs to a more specific niche. That means their followers are more engaged and know exactly what the influencer is talking about. These influencers are sometimes called “micro influencers.”
Average
Average influencers are also called “macro-influencers” by those who frequent Instagram. They typically have between 15,000 and a million followers. They hold a lot of “sways” when it comes to products and brands that their followers should patronize. They are not as in-depth as small influencers, but they do have more followers.
Power
Power influencers are those who have millions of followers. They are usually celebrities, like actors or musicians, but some of them are just famous social media personalities. These influencers can make an impact on a large number of people but rarely engage, if ever, on a personal level. They also might not know or use the products they are endorsing. However, they still promote them because of their partnership with the brand.
How much do Instagram influencers charge?
So, how much do these influencers charge? In the past, small influencers would agree to a partnership if they get something for free. For example, they get a year’s supply of a product or free stays at a partner hotel for their efforts. However, these days, they already charge you for every post they make.
The cost is different for each level.
While there is no fixed price for each one, some marketers have a standard when it comes to making an offer.
The current starting point for negotiations when it comes to pricing is at 1 cent for every follower an influencer has. That means if an influencer has around 15,000 followers, an offer of $150 per post is suggested. As a result, the bigger the influencer, the higher the rate per post you are going to pay them.
Kim Kardashian, for example, can demand up to $250,000 for each post that she makes for a partner brand. If you are not a celebrity but have millions of followers, you can make up to $10,000 for each post you make.
Free influencer alternatives
The fee that some influencers ask for may seem pretty exorbitant. This is why some marketers look for low cost and even free alternatives.
Where do you find free endorsers and influencers for your brand?
The trick is to find an influencer who is a fan of your brand. You can also try to find one who has a healthy following and is willing to endorse your brand in exchange for free products. You can also look for influencers who post about your product unknowingly and simply re-use their posts.
Conclusion
If you really want to make waves online and get your share of the Instagram audience pie, finding an Instagram influencer should be on your list of must-dos. This way, you won’t get left behind by your competitors.
If you have a limited budget for the average Instagram Influencer pricing, try using both paid and free alternatives to achieve your online marketing goals. In no time, you can reach as many people as you can without going over your budget.
If you would like to have your influencer marketing strategy in good hands, feel free to contact us!
