Influencer Marketing Industry Rates Project
Influencer marketing is a relatively new industry that uses social media stars on YouTube, Instagram, Twitter, Facebook, Tik Tok and Twitch to help market, promote and sell goods and services.
As an industry still in its relative infancy it struggles to find an accurate method to agree what an Influencer (social media star) should charge a brand and what a brand should pay.
There are a number of factors that determine the rate an influencer charges for their work. Most pricing starts with a baseline formula and goes up from there.
i.e. $100 x 10,000 followers + extras = total rate
However, this method of evaluating costs is very rough and lacks any real merit as follower count is no indication of potential effectiveness.
There are a number of websites and apps that provide a rough guide with some providing a more accurate guide than others.
The task is to build a table of potential costs for each of the range of influencers from 1,000 to 10m followers on each of
YouTube, Instagram, Twitter, Facebook and Twitch.
It will show a range of costs with upper and lower limits, and tiers to reflect the non linear cost base where influencers with smaller highly engaged audiences generate a higher $ rate per thousand followers than influencers with far higher audiences. The table should contain formula to derive potential costs e.g. if an influencer has 52,500 followers on Instagram and 6,700 subscribers on YouTube we can ascertain costs for both platforms and number of followers.
We will provide you with articles to start your research but the end result should not just be copied from another site or source, although potential costs should be cross referenced where possible.
This chart will be checked by our team of developers and actual real life users for market validity, and then initially used by our in house developers to provide checks on potential costings while we ingest case by case data from the entire market in every b2c sector to enable us to develop a market wide valuation methodology.
Aside of following and engagement rates there are a number of other factors that affect cost including:
Advertising in niche verticals
Usage rights of image or content
Goals – such as sales or awareness
Types of Instagram posts and partnerships such as:
• Instagram photo
• Instagram slideshow
• Instagram giveaway or contest
• Instagram Story
• Instagram Story with swipe up
• Instagram Story with poll
• Instagram Story
• Brand takeover
• Story Highlights
• Link in Bio
The task includes providing weightings eg. Instagram photo value £250 and IGTV value £2000 for the same influencer. (Please note the aforementioned example used are not actual values or weightings and are used for illustrative purposes only.)