Influencers have a lot of different ways to charge for their services. Some take a percentage of the profits, while others only accept flat fees.
But how do you know how much to charge? How do you decide what’s an appropriate amount?
Here’s what most influencers have shared about the same as detailed at https://www.noxinfluencer.com/
Your target audience
If you’re doing work that appeals to high-income earners, then you need higher prices than if your audience is more middle-class or lower-earning.
The type of content
If it’s something that takes just as much effort as another piece of content (say, a blog post), then the price should be similar too (maybe slightly lower). But if it’s going to take substantially more time, effort or skill than another piece of content, then your price should reflect that as well.
Experience level
If this is your first venture into this type of work or even into social media marketing in general, then your price will likely be lower than someone who has been doing it for years and years — even if their experience level doesn’t make them better at the job at hand!
How many followers you have
The more followers you have, the more valuable your posts will be to brands looking for reach. Influencers with more than 100,000 followers can charge anywhere from $500 to $5,000 per post. Influencers with between 50,000 and 100,000 followers can charge anywhere from $300-$4,000 per post. And influencers with between 10,000 and 50,000 followers can charge anywhere from $200-$2,000 per post.
Your engagement rate
If you have low engagement rates — such as 2 percent — you may need to offer discounts or incentives to get brands interested in working with you because they won’t see much benefit from the partnership. On the other hand, if you have high engagement rates — such as 20 percent or higher — then brands will be willing to pay more.
The size of your audience
If you have a large following, then it makes sense that brands will want to work with you — after all, they can reach more people through your content than through their own channels. So, if you want high-paying brand deals and sponsorships as well as smaller ones (think affiliate links), then having a large audience is important. But if you want to focus on affiliate
Quality of content
The quality of content is another factor that determines price point. If an influencer posts multiple times per day with high-quality images and videos showcasing your product or service in action, it’s going to cost more than if they post once per week with mediocre-looking photos and videos.
Audience engagement rate
An influencer isn’t worth their salt if they don’t engage their audience on social media platforms like Facebook and Instagram. An engagement rate of less than 1% suggests they don’t care about their audience or their business enough to engage them in meaningful ways; if they did, they’d probably want to
Conclusion
In today’s digital world, even a recommendation from a major influencer can have significant impact on the success of your business. When deciding on how much to charge an influencer, there is no one-size-fits-all approach. The best suggestion is to define your goals and figure out what your reach is and then make a decision from there. It’s no different for those who have built their personal brands as individuals.
