The topic about Instagram influencers is getting very popular today. It`s normal, because people are able to see them everywhere in this social media. Collaboration with influencers is now replacing the traditional ads and is a huge part of all social media strategies today.
What`s Instagram Influencers real cost?
People want to hear a true answer to this question because they want to work with those people and get engagement from this cooperation. However, different resources give us different information, so we need to be careful. Of course, everything depends on your targets and your budget (we hope that you don`t need financial problems with influencers), but let`s have a look on average price that businessmen could pay for sponsored Instagram posts:
- 66% told that they paid under $250 per post
- And only 27% told that they paid between $250 and $1000 per post
After getting these answers, we compared them with influencers personal reposts charging for sponsored Instagram posts and found a strong collaboration between the two.
We`ve looked on the latest influencer marketing reports from Collectively and saw that rates still vary widely among Instagram Influencers. They call it “the wide west”.
Many digital marketers use one per cent follower rule ($100 per 10k followers), but only as a starting point of their calculation. After that, you can pay attention to other factors like engagement rate, client budget, campaign length and other specific details. You should mention them all before starting your partnership.
What about big Instagram influencers?
When we say “big”, we mean that this influencer has more than 100k followers on his account.
According to the Later`s report “The state of Instagram Marketing in 2018”, only 22% of businesses partner with influencers, but this number could easily grow up to 50% in 2019.
Consider advertise that spend upwards of $5 million for a 30-seconds Super Bowl commercial to reach more than 100 million viewers – who may or may not be the brand`s target audience.
If a fashion blogger with 500 000 subscribers or more will make a series of posts, he could easily sell out an entire product line within 24 hours.
Let`s not forget about micro-influencers
This category is less popular than usual influencers, partly because it has smaller audiences (less than 100k followers). However, if you will start a partnership with them, it could help you in promoting your business and your products on Instagram.
If we are talking about Instagram influencers price, let`s have a look on a pricing list from a fashion blogger with 80k followers (based in Los Angeles):
- Single Instagram post – 1 for $300 or 2 for $500.
- One post on all social media platforms – $400.
- Price for one look or per two looks – 600$.
Another pricing list here from health and nutrition blogger with 30k followers. At this example, we can see more options that could be used:
- Dedicated Instagram post: $325
- IG giveaway: $350
- Brand Takeover on Instagram with at least 2 photos and stories: $250 per day
- Caption mention on Instagram with no visible products: $75
- Series of 5 Instagram stories: $85
- Series of 3 dedicated posts: $825
- Series of 5 dedicated posts: $1400
If your company or brand is positioned as a small business, it will be better to work with micro-influencers. You won`t have any problems with budget and be able to set a long-term partnership.
Set clear goals while working with Instagram Influencers
This part is important because it could depend on your business development. Don`t think about influencers – they know what to do. Think about what you and your business needs (engagement, sales, bigger audience). It`s your money, and you must spend it right, because no one will give it back.