Estimating the cost of influencer marketing services

Key quotes:

• "First of all, you have got to consider these factors that will affect the cost of influencer marketing and understanding these guidelines will help you adjust your rates for both you and your preferred influencer."
• "According to a recent survey from Digiday, rates vary depending on the social media platform you wanted to focus on."
• "YouTube: Active user count of 1.5 billion Which really depends on the time you are willing to spend on your brand, time consumes money so make sure you have enough resources to gas it up and keep it afloat in the social sphere."
• "Always consider the followers when picking an influencer to market your brand."
• "Having true engagers to talk more about your brand should be a package when you consider to hire an influencer to do it for you."
• "If that particular influencer, was able to deliver organic engagement through social media posts then that campaign becomes more effective."

Key quotes:

• "To properly calculate your ROI, you’ll need: Once you have those two elements, you get your Influencer Marketing ROI by measuring the performance of each influencer campaign through 4 metrics: What it tells you: How many of an influencer’s followers saw the promotion and found it relevant enough to tap on your username."
• "How to maximize results on this metric: When looking to maximize the number of Profile Visits Per Dollar spent on an Influencer, I’d recommend that you aim to partner with influencer with over 10K followers and over 15% engagement."
• "You want to have an Instagram account that converts the highest percentage possible of profile visits, but you won’t know what your conversion is like unless you measure your Followers Per Dollar Spent."

Key quotes:

• "This matrix is an estimate and a base to start a conversation, the final price is depending on many factors and don’t miss the derivation below."
• "Amanda would get between $23,125 and $115,625 per Instagram post (rough estimate)."
• "Paris would get between $93 and $463 per post (rough estimate)."
• "Getting to a valid CPM isn’t easy because the only thing we have is the follower count and engagement rate of an influencer."
• "Can we take the follower count as the base for the CPM? To move on, we just assume the median of 30% and 62.5% which is a Instagram Influencer Followers-to-See rate (F2S) of 46.25%."
• "Example: If an influencer has 10,000 followers 4,625 people view his/her post on average."

Key quotes:

• "It is always worth noting other factors that can further impact cost: Usage Rights: Is the brand looking to repurpose the influencer content? When pricing out Instagram I look at the profile of the talent/influencer, numbers of followers, engagement rate, conversion, seasonality, what is the brand category and who the actual followers are."
• "Usage and exclusivity exponentially increase the rate for posts as well, as it locks the talent out from working with other brands."
• "Going forward, the game is all about proving why brands should continue to work with you.” — Emily Roberts Finally, we rounded things out by hearing from popular lifestyle influencer Camille Styles, Owner of Camille Styles."
• "We price our social campaigns at a premium, which allows us to work with a small number of brands that we genuinely love, and it provides us with the resources to continue creating the highest quality content across all of our channels."

Key quotes:

• "As there are currently no industry pricing standards, we provide a comprehensive evaluation of each campaign to ensure that influencer pricing is consistently fair to establish what brands should pay, while in return receiving true value for their sponsored content."
• "To determine why this is the case, one must first take into account all of the following prior to determining an appropriate rate: In general, à la carte pricing, pricing by social media platform tends to be more expensive than bundled content."
• "Top-tier fashion influencer, Jacey Duprie of Damsel in Dior shares her thoughts on underestimated details that affect the pricing of her content: Regardless of the opportunity, I always ask for a rate that is going to make me happy doing the work."
• "After all, there are only so many hours in the day.” With this breadth of knowledge, industry experts like Activate by Bloglovin’, leverage not only extensive campaign experience but also close relationships with influencers that make the pricing and negotiating components of the business a much simpler task!."