In today’s world of digital progression, where all else marketing tactics has faded away influence marketing has taken up the grip and has become the most efficacious way to reach and target audience and since more than 90% of audience follow and trust recommendations of influence marketers plus the social media rise has made it even more accomplish-able for brands to market their products and gain engagements via targeting every edge of the network, thus making is more flexible to gain brand hype and reach at the trigger point of brand exposing and digital betrothal, but these effective reaching and relation building marketing strategy are pricey with no limits, still tons of brands are moving on the continuous pathway of hiring brand ambassador and influence marketers this had made it even more slippery for brands to hire and collaborate with high end influencer marketer as the celeb influencers are taking their cost of collaboration at another level. Since I have found several searches and question have been asked on the costing range of influence marketers as who much they cost for brand exposing and presenting it to their audience.
When it comes to the costing ground, there comes mounds of factors dealing with the costing and billing of influence marketers, it partially or entirely rely on the brand person and his expenditure, first of all there must be a goal and budget determined that would later help you to figure out at what level you can choose or hire an influencer, there are options based on your level of expense and amount of reaching either you want celebrity influencer with millions of followers or some micro or macro influencer to pop up your brand and it’s product.
Actually, in today’s high time, Social media has wholly turned into a digital marketing platforms, every second individual who has done building a dandy fanbase on their social media account is utilizing it’s position to track and target audience and promoting products and goods of high to low stream, plus brands, specially newbies are overbusy in finding them, basically what happen not every influencer or influence marketer you find floating on the social media is inclined at every brand’s type and not every kind of it fits into the brand’s swollen requirement.
Now, when we discuss on how much do influence marketers charge, there enters some points of consideration that would directly impact your overall billing and cause changes in gross business paradigm. Some of them which would vary greatly and takes into account are listed below
Frequency refers to the number of collaborations you want with a particular influencer marketer either you want your brand promotion and campaigns at regular basis or just for one time it will directly impact your costing session.
Level of dependency
level of dependency refers to the amount of work you want to be done via your brand influencer, as some client wants to have full control over the content influencer produces before publication whereas others let the influencer work on their own voice.
Reaching refers to the amount of audience you want to target, you might want to target and extend your audience reach up to millions but that may or may not be in your budget, according to the last estimation celebs like kendall Jenner who makes an estimated $1 million per sponsored post on her instagram account making her the highest paid celebrity influencer till now, other high paid international celebs like Selena Gomez with a price tag of $800,000 per post and kim kardashian who charges over half a million that is $500,000 for a single instagram post, other celebs like Indian skipper Virat kohli has a hefty tag of $120,000 per post .
Direct partnership or agency
The amount of total billing fluctuate majorly when you connect to an agency rather than directly to an influencer, obviously it baffling to directly connect and ask for collaboration with an influencer but a good try can help you to reach them, actually when you connect to an agency to hire an influencer marketer, these agencies have greater reaching and build relations with top talented influencer so you won’t have to wander and fetch to discover influencer inclined at your brand’s base type and niche, but these agencies cut off 30-40% of overall costing as compensation paid by partner brands.
There are other midget factors affecting the cost and can vary on the basis of campaigns, engagement rates, followers,duration and insights etc, but these all expenditure can be justified if implemented corrected and can plunder you with mammoth size ROI. On an average ratio celebs charges on the number of campaigns they’ve done, even if you can’t hire Kim and Kendall, still you can make ravishing business promotion and outreach, there are other influencers who would charge you over $250 per instagram post for upto 50K followers, whereas others with 1M followers roughly charges $1000 per post. Influence marketing charges may vary with different social media bloggers according to their audience reach and engagement rates, some macro life style and fashion bloggers charges $5 to $10 per post and $500 to $800 per 1000 engagement.
Its isn’t necessary that only high trend celeb influencers can make your business fly, macro and micro influencers can even do wonders for national brands and bounce back a thriving profit in your pocket, it just bank on you budget and audience outreach the more you extend your business reaching equivalently greater you have to dig in you pocket.