The answer is it all depends. We know, this is often the answer to most things. But let us tell you the scenarios that you’re likely to come across in this world that will help you get a better understanding of what we mean by this and what you can expect from a $ point of view.
A handful of things go into determining the cost of activating a specific influencer. Often it ends up being a combination of the following:
- The brand ask
- The influencers pre-established reputation (which in other words means their follower count)
- The pricing model
The brand ask
The brand ask can be broken down into three core categories. Deliverable amounts, format, and content requirements.
Typically when brands work with influencers they are interested in content development and posting. This can look like many different things. Depending on what the brand is interested in accomplishing with their partnership they may ask for 1 piece of content, or 20 followed by either 1 post or several. As you can imagine, the more the ask the more the cost.
Under 3 Pieces of content & 1 post: Starts at ~$1000 per creator
Over 3 pieces of content and greater than 1 post: Starts at ~$1500 per creator
In addition to the actual deliverable amounts, what the brand wants displayed in the content has an impact on the influencer cost. If, for example, the brand is non-specific and leaves it mostly up to the influencers creative direction, the cost will be lower. If the brand is incredibly detailed in what they would like to see in their content, like for example requesting that the influencer shoot on a beach, with a child under the age of 12, with a chihuahua…this will cost a bit more.
Open-ended ask: Similar to the above, the cost for 2 pieces of content and 1 post will start around $1000 per creator.
Detailed ask: Depending on how detailed the ask, expect to pay at least $1500 for 2 unique assets and 1 post per creator.
This matters quite a bit. Costs will fluctuate depending on if a brand wants a static image, a gif, a video, a pin etc. Anything that requires a higher level of skill will cost more. This includes anything beyond a still image like: gifs, stop motion, videos, text overlays, branded content, etc.
Static: Expect to pay ~$750 for 1 unique assets and 1 post.
Non-static: Expect to pay ~$2500 for 1 long-form video (15 seconds or more) and 1 post.
The influencer’s influence
How many followers does the influencer have? This is quite self explanatory, in that the more followers an influencer has, the more expensive they are likely going to be to work with. Many influencers price on a CPF or cost per follower basis. They will set a $ amount (usually based on the content requirements and format) that corresponds to every 1,000 of their followers. If they set a CPF of $12 and they have 10,000 followers then they will cost around $120 dollars.
The pricing model
Here is where you can start to exert a bit more control. If you know your budget out-the-gate, set fixed pricing. Tell influencers you are only willing to spend “X” amount on a collaboration and let them self-select if they want to work with you at your price or not. It makes it easier for you to know who is a viable option and saves you tons of time having to sift through individuals who are over your budget.
Hopefully this gives you a starting point for the cost of influencer marketing. Really the question should be how much can influencer marketing cost, as there is no standardized value assigned across the industry – it’s literally impossible. Estimates can be made, sure, but even then, more edge cases than not appear and throw off the numbers. All in all what you can control is your brand ask, your partner selection, and how you approach your pricing model to stay within your desired budget.