June 26, 2021
One way for influencers to earn money is by promoting companies and their products through advertisement posts.
But how much does it really cost to hire an influencer to promote your brand? Well, that depends on the criteria.
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Cost estimates correlate with how many followers the influencer has. For an individual with less than 10,000 followers, a post advertising your product or service is usually going to cost you around $75. The price depends on the influencer and whether they are signed to an agency with set pricing or not.
The usual rate for Instagram influencers is $1,000 per 100,000 followers.
Macro influencer pricing
A macro influencer is someone who has between 200,000 and 2 million followers. Former contestants from The Bachelor are a prime example of macro influencers. After the show, they go on to have almost a quarter of a million followers and usually charge around $1,500 to $7,000 per post.
Fashion and lifestyle influencers are also huge macro influencers. For example, the famous Instagram account @weworewhat has over a million followers and typically charges anywhere from $5,000 to $15,000 per post.
Micro influencer pricing
Anyone with less than 200,000 followers usually qualifies as a micro influencer on Instagram. Their rates will cost advertisers a lot less money. As long as your company does its business wisely, the investment will be just as great, even if they have less followers.
Micro influencers typically charge around $500 to $1,500 per post, but the price for any influencer is always negotiable.
If your brand can’t afford to hire an influencer with a considerable amount of followers, targeting an influencer in your field with active engagement can be just as effective. Sometimes, working with micro influencers is much more valuable than spending thousands of dollars on top notch influencers and celebrities, especially when it comes to B2B companies.
Izea.com originally published this content in their article, Instagram Influencer Pricing, and we have expanded, summarized, and customized their findings.
For more information on influencer marketing, check out our podcast episode on common mistakes companies make when working with influencers. To explore hiring a social media influencer to promote your brand, visit our InfluencerInsights page.
Marissa is currently a rising senior at Michigan State University studying advertising management and public relations. She is an aspiring PR professional and is enthusiastic and knowledgeable about multiple areas of PR.