An Influencer can be anyone who’s built themselves an online reputation by doing and sharing certain things online to their audience. An Influencer is a taste-maker, trendsetter and trusted expert whose opinions about certain subjects are respected.
Usually, an Influencer has an audience with very specific interests. For this reason, brands consider Influencer marketing to be one of the best advertising methods if done properly. Collaboration with an Influencer implies gaining access to the ideal audience, and for that matter, many brands are ready to pay astronomic paychecks to have a chance to advertise in that space.
So, how much do Instagram influencers earn?
The answer, as always: it depends. Someone may ask $50 per post, while others may consider an offer of $1,000 per post as an offense. An influencer with 10,000 followers with a very specific audience, may offer more value compared to an Influencer with a broad 100,000 following base. Let’s suppose the first Influencer is in Jewelry & Apparel industry, while the second one is blogging about memes. Most probably the Influencer with 10,000 followers will ask higher paycheck, even if he has 10 times lower following base.
There is a lot of information on how much certain influencers charge for their services, and generally these are the factors which influence on the size of the paycheck:
- The number of followers
- Engagement Rate ratio
- Audience’s location and demographics
- Industry / Niche
These are just four components, but let’s not forget that in the market economy, the price is shaped by supply and demand. If an influencer is highly demanded, no doubt, he will ask for higher rewards. Demographics and location of the followers are also major factors. In case a brand is location, gender or age sensitive, a collaboration won’t be possible due to simple reason of target audience mismatch. Same with audience niche, in case an influencer has his audience in fitness niche, engaging into a collaboration with brand which sells bodybuilding products is none sense.
You can easily analyze your audience by looking into statistics insights into your account. If you don’t have a business account, you should upgrade immediately.
An Influencer can be anyone regardless of the size of his audience, and many influencers with as low as 10 000 followers, in particular cases, can be seen more valuable than influencers with 100 000 followers. Why? Different industries have different requirements.
Generally speaking, the price starts at 1 cent per follower, which translates into $100 per 10 000 followers per post. The price gets adjusted based on engagement rate ratio, demographics, locations etc.
You may say that $100 is not that good, compared to investments made into growing your followers base, however, you are not limited only to one post. You can offer various services, and of course they have different price tags:
- Story mentions
- Image posts
- Video posts
- Giveaway promotion
- Brand Ambassador services
An Influencer marketing campaign involves many touch points. Multiple posts across a period of time, mixing different type of content. The price easily goes above $1000, and it could go beyond if taken into consideration the production costs. And we are talking about the lower end.
On average, influencer with a small audience earns between $30,000 and $60,000 a year. The micro-influencers can make anywhere between $40,000 to $100,000 a year, while experienced Influencers can easily find themselves earning over $250,000 a year. The info is taken from vox.com.
Not bad at all, for something which initially started as a hobby, and that’s not a 9 to 5 job.
Instagram Influencers average paycheck per post by Industry.
|Industry / Vertical||Paycheck per post|
|Home & Lifestyle||$204|
|Health & Fitness||$193|
|Food & Drink||$169|
|Art & Design||$148|
Now that you know how much you can expect to earn, you can start working towards achieving your goals. Here are some recommendations on how to build a strong and loyal following:
1. Perfect your bio. Make it clear who you are and whom you want to follow you.
2. Post regularly. Demonstrate that you are serious about what you do.
3. Only high-quality pictures. Try to take pictures using a decent camera, rather than simply using the one in your smartphone.
4. Use relevant hashtags to attract relevant people.
5. Engage as much as possible with your audience – comment and like their images, and they are more likely to do the same in returns to yours.
Not every influencer will engage with brands. Some Influencers build a brand around their name, ultimately they create a product and use their name to promote it.
It is always hard to start, luckily there are services where you can boost Instagram followers. Having a certain number of followers will make you more attractive in front of the new followers, resulting in higher organic growth, and a higher chance of being hired.