How Much Should You Pay Influencers? 2023 Update

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Nowadays, influencer marketing has become an effective marketing strategy. With the rise of Instagram and other social media platforms, more businesses are turning to influencers, especially Instagram influencers, to promote their products or services. That’s why knowing an Instagram influencer price is so crucial for brands.

Some top influencer marketplaces, like Ainfluencer, give you an estimated price for each influencer. The Ainfluencer marketplace allows you to find Instagram influencers through different filters for collaboration and also allows you to check influencers’ account information, such as their estimated price and quality score.

You can sign up for free and use its safe payment procedure to run influencer campaigns.

An influencer's profile

In this article, we have provided you with a list of the most important factors to help you understand how much do brands pay influencers. You can also see some examples of “How much do influencers make per posts?” at the end of this article.

Instagram influencer price factors

If you’re a brand and don’t know how much to pay influencers or want to know how much influencers charge you for each post or campaign, this article is for you.

Influencer pricing depends on multiple factors that must be taken into account. Here are the most crucial ones:

Instagram influencer price factors

1. Social Media Platform

Determining the cost of influencer marketing can be different depending on the media platform you use. Influencers on Instagram, for example, often charge higher rates than their counterparts on other social media platforms, such as Twitter and YouTube. This is because Instagram offers marketers multiple features and the ability to target a specific audience.

It’s important for you, as a brand, to understand how each platform works and where your target audience is, so that you can make educated decisions when investing in influencers.

Our main focus in this blog is on Instagram influencer prices, as they are more popular in today’s marketing world.

2. Number Of Followers

Influencer rates and the cost of influencer marketing can vary significantly depending on the number of followers an Instagram influencer has.

  • For nano influencers with fewer than 10K followers, the Instagram influencer price is typically between $75 to $250 for each sponsored post.
  • Micro influencers, accounts with 10K-100K followers, will charge around $250 to $2000 per post.
  • Instagram influencer price for macro influencers and larger accounts with 100K+ followers is $2000+. For this category, it’s not uncommon to see rates as high as tens of thousands of dollars per sponsored post or even more in some cases.
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Estimate your budget and the amount of money you want to spend on influencer marketing, then choose the types of influencers that fit your budget.

3. Engagement Rate

Influencers’ engagement rate is an essential factor when considering Instagram influencer price. Not only can this metric give brands insight into potential ROI, but it also helps to determine the quality of a particular account.

Understanding engagement rates can help you identify which influencers are worth investing in.

IG influencers’ engagement rates are determined by dividing the total number of likes and comments on a post by the total number of followers on an account. This gives brands an understanding of how interested their target audience is in the content created by a particular influencer.

The higher the engagement rate, usually the more expensive it will be to work with that particular influencer since they have proven themselves to drive high levels of interaction from their followers.

4. Type Of Influencer Marketing Campaign

Another key factor in determining an influencer cost is the type of influencer marketing campaign the brand wants to run.

The first step when running an influencer marketing campaign and choosing its type is to consider the goals you have set for your business or organization. Depending on what objectives you have set out to achieve, different types of campaigns may work better than others. For example, if you want to increase brand awareness, then a sponsored post might be best suited, whereas if you want to increase sales, then a giveaway post could be your best option.

So, set smart goals and the type of influencers marketing campaign you want to run, and depending on that, you can find out how much to pay influencers.

5. Your Expectations

How much you pay for an Instagram influencer depends greatly on what you expect from them. If your expectations are realistic and well-defined, it will help you find the right influencer at the right price.

When setting expectations in terms of what an Instagram influencer can do for your brand, take into account things like engagement rate, follower count, and the content they post. Establishing benchmarks allows you to evaluate potential influencers in light of how much they’re asking for their services. It also helps you determine which fees are reasonable or worth negotiating. Clear expectations allow you to make informed decisions about who is best suited for your campaign without paying too much or too little for their services.

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6. Exclusivity

While running influencer marketing campaigns, brands may offer exclusive contracts to influencers in order to make their campaigns more effective and gain more value and potential customers.

Exclusivity for campaigns means influencers shouldn’t endorse other brands or products in the same space. It gives businesses a chance to create unique content with their chosen influencer; when an individual is associated only with one particular brand, they can create helpful posts and videos tailored to that company’s audience rather than spread them among numerous organizations at once.

That’s why Instagram influencer prices will be higher when campaigns are exclusive.

7. Content Ownership

Content ownership is another important factor in Instagram influencers pricing.

Content ownership refers to the ability of a brand or company to take an influencer’s post and re-use it in any capacity they choose – whether on other social media channels, in advertising campaigns, or even in physical form. For this reason, many companies are willing to pay higher IG influencer rates for content ownership.

8. Campaign Length

Campaign length is among the functional factors that should be taken into consideration when running an influencer campaign on Instagram. 

An Instagram influencer price depends largely on how long a particular marketing campaign is expected to last. For instance, if an influencer is asked to post about a product for two weeks, they won’t charge as much as they would for a longer-term collaboration, like one month or even more than that.

9. Link In Bio

And the last factor affecting the cost of influencer marketing is the “Link in bio.”

A link in the influencer’s bio allows users to connect with brands’ websites, products, or services, which helps increase the campaign’s reach and gives potential customers direct access to the product or service being promoted.

That’s why wanting this feature in campaigns increases Instagram influencer prices.

Average Instagram Influencer Price Examples In 2023

Now that you know all the important factors affecting an Instagram influencer price, let’s see some examples and average price ranges for influencers. Whether you’re looking for a celebrity endorsement or a local nano influencer, understanding influencer pricing can help you make sure that you get the most out of your investment. Here are some average Instagram influencer prices examples that can help inform your decision-making process:

1. Amber Broder (@amberskincarediary)

Amber Broder is a nano Instagram influencer with more than 2K followers. She is a skin influencer and shares her opinion on different skincare products.

This Instagram influencer price is not much. She charges brands $100-120 for each feed post, $200-250 for each Reel, and $50-75 for each Story.

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2. Tyler Chanel (@thriftsandtangles)

Tyler Chanel is a micro influencer and ethical blogger from California. Her account is full of beauty, fashion, and lifestyle content and currently has 13.7K Instagram followers. She gets between $500-850 per Instagram sponsored post, $750-850 for a Reel, and $100-250 per IG Story.

3. Macy Mariano (@wanderwithmacy)

Lifestyle, fitness, travel, and wellness influencer on Instagram, with 167K followers. She is a great influencer with a high engagement rate and has worked with big brands and companies, such as Lululemon. One feed post costs $1.2k, one Reel or video costs $1.8k, and one Story costs $300 on Macy’s Instagram account.

Conclusion

In conclusion, an Instagram influencer price depends on a variety of factors, which are mentioned above. It’s important to consider each factor when determining how much to pay your influencer. Additionally, it is essential to have clear expectations and goals set out in advance so everyone involved in your marketing campaign can be satisfied with the outcome. Be sure to evaluate all options before deciding on how much to pay an influencer.

1. How much should you pay an influencer?

When it comes to working with influencers for your company, the amount of money you should pay them is an important question. While it may depend on the type of influencer you are working with, there are a few key factors to consider when determining how much they should be compensated. 
Here are some of the most important factors:
1. Social Media Platform
2. Number Of Followers
3. Engagement Rate
4. Type Of Influencer Marketing Campaign
5. Your Expectations
6. Exclusivity
7. Content Ownership
8. Campaign Length
9. Link In Bio

2. How do you price yourself as an influencer?

If you’re an influencer looking to monetize your presence on social media, you may be wondering how to price yourself.
The general formula is “Distribution Fee + Talent Fee = Rate.” But it is important to consider the value of your influence when setting a rate so that you can stay competitive and maximize your earning potential. 
The first step in pricing yourself as an influencer is to understand what kind of value you bring to the table. Consider the size of your audience, their level of engagement, and any special skills or knowledge that make your content stand out from the rest. 
Once these factors have been established, researching rates for similar types of influencers and campaigns can provide useful insight into what you should charge for collaborations with brands.

Maryam Shirvani

Maryam is a content writer at Ainfluencer. Through writing, she tries to provide you with the right solutions and the information you're looking for.