HOW MUCH WILL INFLUENCERS CHARGE IN 2024?

Find out how much influencers charge in 2024 and what they can earn from Influencer marketing campaigns. Calculate average influencer rates and price per post cost for Instagram, YouTube, TikTok or Twitter.

Brought to you by Mau, a Senior Influencer Marketing Specialist at eDigital.

HOW MUCH WILL INFLUENCERS CHARGE IN 2024?

Even some of the top 25 Australians on Instagram or the world’s top 25 most popular TikTok celebrities need to calculate their Influencer rate cards to be able to make successful deals with global brands. You can also use the below insights to calculate your Influencer rate card or price per post.

If you are a marketer, advertiser or business owner, the below influencer prices can be used as an indication of how much you need to budget when paying an influencer for a social media post.

CALCULATE THE RIGHT PRICE TO PAY TO AN INFLUENCER

It may be ok to get quotes from different influencers, however, you should be calculating the right price to hit your target ROIMS.

I know what you are saying: “What the hell is ROIMS?”

ROIMS means the Return on Influencer Marketing Spend.

Experienced marketers developing successful Influencer Marketing campaigns calculate the price per post they are willing to pay to hit their target Return of Influencer Marketing Spend (ROIMS).

Do not allow an influencer to distract you with their followers’ numbers, prices and average engagement rates.

If you want to actually know what you should be paying to an influencer for a post, you must calculate your Initial investment (price per post) to hit your desired ROIMS.

There is no point in knowing how much the World’s most-followed celebrity on Instagram: Cristiano Ronaldo charges for an Instagram post if you have not calculated your ROIMS.

The same will apply to the small local influencer who may be as happy with the free products in exchange for publishing a post about your brand.

INFLUENCERS’ PRICES PER POST

Recently, I was on a holiday, driving the epic Brisbane to Cairns road trip best stops along the coast and meeting a few influencers who shared with me some interesting insights regarding prices.

Influencer pricing is not a one-size-fits-all.

There is no such thing as a standard rate card for an influencer.

Each influencer will be able to set a value, based on several criteria, including:

Some other things are harder to quantify, including how influential you believe them to be in your marketplace – especially if you’re within a niche market.

The work you have done to identify your perfect influencer(s) will help to determine how valuable they will be to your brand.

Although micro-influencers have fewer followers, they see a 10x increase in engagement: you may get more value for money using a micro-influencer.

A Bloglovin survey on Influencer pricing found that:

  • Instagram influencers charge 2-3x more for an Instagram post than a blog post
  • A general rule of thumb is to charge $100 per 10K followers
  • Agency rates and content production quality may increase the above rate
  • Exclusivity often costs more. For example, an influencer who focuses on luxury high-fashion marketing campaigns may cost more than a general fashion influencer.
  • Brand affinity can cost more. Following the same example above, a fashion marketing campaign should only partner with an influencer who shares the same brand values.

Some influencers are paid partly in gifts or samples. Influencers within the lower end of the follower count may accept gifts while influencers with celebrity status (millions of followers) will not be interested in gift payments.

Rates vary greatly depending on:

  • The size of the influencer’s audience
  • Average engagement rates
  • The industry they specialise in
  • Demonstrable expertise.
  • Brand fit.

WORKING WITH INFLUENCERS – TOP OPTIONS

Before you learn how to work with influencers you need to have a clear indication of how much you are willing to pay them.

How much money will influencers charge in 2024 for sponsored posts and product placements?

With influencers, you’re not just paying for the hours that it takes them to put together your post.  You’re paying them for the years that they’ve spent cultivating, nurturing, and growing their targeted audience. Be reminded that smaller bloggers are great for certain types of campaigns, while larger-scale goals might require you to bring a bigger budget as prices per post can be higher. Feel free to contact us if you’d like help with your influencer marketing campaigns or to schedule a meeting.

There are three common ways you can collaborate, work and reward your influencers:

  • Pay per post
  • Free product as payment
  • Commission payments (aka affiliate payments)

PAY PER POST

The most popular Influencer payment arrangement is known as a “pay-per-post” deal. With these deals, you pay the influencer a specific amount of money (depending on the size of their audience) for a certain number of posts. The pricing for these deals can fluctuate based on a few factors, with the biggest one being the size of the influencer’s audience.

Here are some average figures to help you budget your influencer campaigns:

  • Instagram: Instagram Influencers generally charge $50 per 5,000 followers for a sponsored Instagram post, but there is typically a minimum price tag of $150 per Instagram post, even for influencers with less than 50,000 followers.
  • Snapchat: Snapchat campaigns are a bit different as follower counts aren’t made public on Snapchat. You will pay Snapchat influencers based on the number of views in 24 hours. Rates typically begin at $500 for 5,000 unique views but can go as high as $10,000 or 50k+ unique views.
  • YouTube: The starting price is about $100 per 5,000 subscribers. Making a video about a brand or product is much more labour-intensive than an Instagram post, and if an influencer’s audience is willing to watch an in-depth video, they’re more likely to follow through on the influencer’s recommendation. So while the price may be higher, the value often is as well.

The cost per post can also vary depending on what kind of post the influencer is creating. For example, a travel blogger with 108,000 followers might charge $1,000 per “static” (no video, no slideshow) post on Instagram, but only charges $200 for an Instagram Story post. If you’re not sure whether you can afford a traditional pay-per-post deal, a temporary post can be a cost-effective option. But you get what you pay for—since Instagram Stories only last for 24 hours, odds are your campaign will have less visibility with your influencer’s audience.

On the flip side, you can also pay an influencer more for extra visibility, with what’s known as a “link-in-bio” deal. With link-in-bio deals, the influencer includes a link to your brand’s site in their social media bio, which stays pinned to the top of their account page, or on their profile, and can drive direct traffic to your site. The pricing for these can be difficult to predict, but since a link in an influencer’s bio increases the visibility of your campaign even further, most influencers charge up to 40% more for that add-on.

If you’re targeting an influencer with a large following on multiple social media platforms, you should also consider a multi-platform campaign, where the influencer shares one post on all their social media accounts. This can increase your visibility, and many influencers offer bundled pricing for a multi-platform campaign.

It’s extremely common for Influencers to charge for sponsored work, especially if they’ve built up a solid following.

It is important to realise top celebrities will charge a premium. People like Kim Kardashian with 140+ million Instagram followers can charge around $200k-$300k per post.

FREE PRODUCT AS PAYMENT

If an influencer likes your brand, you may be able to strike up a deal where they’re paid with a free product range rather than cash. This arrangement typically takes more effort to set up because not only do you have to find an influencer that you think is a good fit for your brand, but you also have to find one who genuinely likes your products. But if you’re confident in your products (and you should be), supplying an influencer with a free product range can be a good cost-saving option. If you want to go this route, you’ll need to reach out and introduce yourself and your brand. The goal should be to position your brand as a good fit for that particular influencer, so be sure to note the specific post, video, or article that made you think they might want to try your product.

COMMISSION PAYMENTS

Another option is to pay the influencer a commission, which usually comes in the form of pay-per-sale, pay-per-lead, or pay-per-engagement. So instead of paying a flat fee for access to their entire audience, you only pay if their endorsement leads directly to a sale, a new referral, or engagement—whatever metric you’ve decided to use to measure success. The commission structure helps ensure that you’re only paying for results, but most influencers prefer not to be paid on a commission basis. The way they see it, why put in the effort to endorse a brand without a guarantee that they’ll be compensated for their work?

INFLUENCERS’ AVERAGE PRICE PER SPONSORED POST IN 2024

Some of our best Instagram virtual assistants have analysed data and insights from Influencer platforms including Digi Day, Adweek, Sprout Social, Later, Marketing Magazine, DigitalMarketing.org, Influencers Marketing Hub, Business Insider, Adage, Social Media Marketing Mag and others and came up with the below average prices per post.

AVERAGE PRICE – AUDIENCE SIZE

  • Top celebrities: 15+ million followers. Average price per post: USD$10k
  • Mega influencers: 1.5 to 15 million followers. Average price per post: USD$5k
  • Macro influencers: 650 thousand to 1.5 million followers. Average price per post: USD$1000
  • Mid-tier influencers: 250 thousand to 650 thousand followers. Average price per post: USD$500
  • Micro influencers: 25 thousand to 250 thousand followers. Average price per post: USD$250
  • Nano influencers: Up to 25 thousand followers. Average price per post: USD$100

The worst you can do is to follow the above rates. Instead, what you should do is calculate your ROIMS (return of Influencer Marketing Spend so you have a better idea of how much you should be paying to an Influencer.

The above rates are just an average indication, you may find cases where influencers might be cheaper or more expensive than the rates below considering other factors we mentioned above.

THE AVERAGE INSTAGRAM INFLUENCER RATES by HypeAuditor

Average Instagram influencer rates 2021 HypeAuditor

Average Instagram influencer rates 2021 HypeAuditor

HOW MUCH INFLUENCERS GET PAID – REAL DEALS

  • Tourism Australia paid AUD$13055 for four Instagram posts posted by influencer Chessie King (700k followers) and her partner Matt Carter. This meant $3263 per post. 
  • According to the Daily Mail Instagram’s beauty and skincare product influencers with half a million followers may charge around $3k per post.
  • A digital creator and podcaster with 1.5+ million fans can charge between $600 and $1k per post, according to TVOM.

CONTACTING INFLUENCERS

A great place to start is by picking one of the best Influencer marketing platforms. You will be able to contact and manage many influencers in a scalable way.

HOW MUCH WILL INFLUENCERS EARN IN 2024?

According to one of the most popular Influencer Marketing Platforms: an influencer can make up to $100k in 2 years.

Rebecca Gawthorne of @nourish_naturally – a dietitian from Sydney with an audience of under 150,000 followers on Instagram – After 23 months of working with an influencer marketing platform, her figures are:

  • Rebecca’s Total Influencer earnings: AUD$114,297.70
  • 245 ‘approved’ posts, at an average fee of AUD$466.52 per post.
  • This equates to about 3 per week.
  • 855 total content submissions to brands, with a win rate of 29%, averaging out to be roughly 10 submissions a week.
  • Her consistency now provides her with a remarkable AUD$60k annual salary on top of her full-time job.
  • Since joining the influencer marketing platform. Rebecca’s following has grown by over 50%.

WHAT IT TAKES FOR AN INFLUENCER TO EARN GREAT MONEY

How did Rebecca make it?

By posting high-quality content mixed with the consistency of submissions.

IS THERE ANY INFLUENCER RATE CARD?

Yes, some influencer platforms can present advertisers with Influencers’ rate cards while other Influencer platforms allow advertisers to decide the investment per post and the influencers decide whether they want to participate or not. You can always contact an influencer and ask them for a rate card. However, I would strongly suggest you calculate how much you should be paying per post with the ROIMS formula and then present your investment opportunity to the influencer.

Just updated > The best influencer marketing tools – list

TRIBE INFLUENCERS SUGGESTED PRICING

Find below the influencers’ prices recommended by Tribe Group, one of Australia’s influencers’ platforms. Prices are in Australian Dollars.

influencers pricing charge suggestions 2019 tribe

influencers pricing charge suggestions tribe

THE RIGHT FIT – SUGGESTED PRICING

Find below the influencers’ prices recommended by The Right Fit, one of Australia’s online talent agencies. Published on the AFR.

  • 3k-20k followers = AUD$75 to AUD$300 per post
  • 100k-250k followers = AUD$550 to AUD$800 per post
  • More than 500k followers = AUD$1200 per post

YOU – THE ADVERTISER – SHOULD DICTATE THE PRICE PER POST YOU ARE WILLING TO PAY

The price tables above are rubbish.

Stop letting Influencers or Influencer Marketing platforms define the price per post.

Why: Simple! They want to make money and they want the influencer to make money too.

You must calculate your Return on Influencer Marketing Spend (ROIMS) and then have a better idea of how much you should be paying to an Influencer for a promoted social media post.

WHAT MAKES INFLUENCERS CHARGE TOP DOLLARS?

There is a lot of money to be made if you get the Influencer celebrity formula right. The issue is that the formula is not an easy one to apply. Influencer success comes down to:

  • The unique personality and life story that resonates
  • The right timing
  • Innovativeness
  • Creative output
  • Entrepreneurship

Those top influencers charging premium top dollars surely have mastered what is called: “Socially engineered authenticity“. They offer a unique view of their world including dreams, inspiration, success, failures

Mau – Global Head of Marketing Strategy at eDigital

Trending > How to brief an influencer and template

EVALUATE THE COST OF NOT HAVING A TOP INFLUENCER

If you are a marketer for a top global brand, you may also need to review and evaluate the cost of not having a top influencer on your side. In June 2021, during a football post-match interview, Cristiano Ronaldo (one of the top 25 most-followed sports athletes on Instagram), surprisingly removed Coca-Cola bottles in a stunt to promote his water brand. This action produced a single-day drop of USD$3 billion in Coke’s market capitalisation.

coca-cola market cap drop graph after cristiano ronaldo bottles removal

coca-cola market cap drop graph after Cristiano Ronaldo’s bottle removal

Need Influencer marketing support or training? Contact us

Marketers are also reading: The best Influencer Marketing companies & platforms – ranking list

CONCLUSION

Paying influencers to promote your brand is a fantastic way to build brand awareness and increase the chances of boosting your sales. This payment can be expressed in many ways, making influencer marketing a versatile option for any business. You could pay influencers with money, free products, gifts, exclusive access to events or dollar credits for online purchases on your website or app.

eDigital can help you conceptualise, plan, develop, run and optimise successful influencer marketing campaigns that generate leads and sales for your brand.

Our digital marketing services include:

  • Strategic planning for social media and other digital marketing channels.
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  • Training: social media marketing training and digital marketing training. 
  • SEO strategy and execution. Including content development:articles, stories, eye-catching and SEO-optimised visuals.
  • Celebrity and influencer marketing campaign strategy. 
  • Brand development. Logo creation, brand personality development and design of marketing materials.
  • Consumer contests/competitions/giveaways.
  • Email marketing. Dip sequence design and deployment. 
  • Conversion rate optimisation. It is also called “path to purchase” optimisation. 

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HOW MUCH DO INFLUENCERS CHARGE IN 2024?

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