Please note that this calculation may vary depending on influencer’s location, niche and audience quality.
Generally, higher followers and engagement rates command higher fees. Engagement rate can be calculated by dividing the total number of engagements (likes and comments) by the total number of followers, then multiplying by 100 to get a percentage. Instagram offers various content types like posts, stories, reels, IGTV videos, etc., each with different pricing. For instance, stories may cost less than a dedicated post due to their temporary nature.
- Nano Influencers (1,000 – 10,000 followers)
- Average cost: $10 to $100 per post
- Formula:
(Follower Count x Engagement Rate x Base Rate) / 100 - Example: For an influencer with 5,000 followers and an average engagement rate of 3%, using a base rate of $0.20 per engagement, the calculation would be:
(5000 x 3 x 0.20) / 100 = $30 per post
- Micro Influencers (10,000 – 50,000 followers)
- Average cost: $100 to $500 per post
- Formula:
(Follower Count x Engagement Rate x Base Rate) / 100 - Example: For an influencer with 20,000 followers and a 4% engagement rate, using a base rate of $0.30, the calculation would be:
(20000 x 4 x 0.30) / 100 = $240 per post
- Macro Influencers (50,000 – 1 million followers)
- Average cost: $500 to $5,000 per post
- Formula:
(Follower Count x Engagement Rate x Base Rate) / 100 - Example: With 200,000 followers and a 2% engagement rate, at a base rate of $0.40, the fee is:
(200000 x 2 x 0.40) / 100 = $1,600 per post
- Mega Influencers (1 million+ followers)
- Fees are typically custom-negotiated due to their high influence and reach.
YouTube
YouTube influencers often charge based on video views, subscriber count, and the content type (e.g., length of the video).
- All Influencer Types
- Average cost: $20 to $200 per 1000 views
- Formula:
Average Video Views x Rate per 1,000 Views - Example: For a video expected to get 100,000 views at a rate of $50 per 1,000 views, the fee is:
(100,000 / 1000) x $50 = $5,000
TikTok
Similar tier-based approach as Instagram, with modifications for platform specifics.
- Nano Influencers: Charging $5-$25 per post.
- Micro Influencers: Can charge $25-$250 per post.
- Macro Influencers: Fees range from $250-$2,500 per post.
- Mega Influencers: Typically charge $2,500 or more per post.
Twitter and Facebook
- Similar to Instagram’s model, adjusting base rates for platform-specific engagement and audience behavior
Snapchat
- Formula for Story Views:
Story Views / 1,000 x Rate- Average cost: $10 to $100 per post
- Example: For 10,000 views at a rate of $200 per 1,000 views, the calculation is:
10 x $200 = $2,000
General Formula for Influencer Fee Calculation
Across all platforms, the following factors should be considered:
- Engagement Quality: Beyond numbers, the quality of engagement (genuine comments, shares, etc.) matters.
- Audience Demographics: Matching the influencer’s audience with your target market is crucial.
- Niche Relevance: Influencers in specific niches may command higher fees due to specialized audiences.
- Campaign Duration and Complexity: Longer campaigns or those requiring more complex content creation (e.g., travel, extensive editing) will cost more.
- Generalized Formula:
(Follower Count x Engagement Rate x Platform-Specific Base Rate) / 100- Adjust the base rate according to the specific platform and influencer tier.
- The engagement rate should be calculated as
(Total Engagements / Total Followers) x 100.
Additional Considerations
- Exclusivity and Length of Campaign: Higher fees for exclusive and longer campaigns.
- Content Complexity: More intricate content can command higher fees.
- Brand-Influencer Fit: Fees may vary based on how well the influencer aligns with the brand’s image and audience.
- ROI and Conversion Metrics: Adjust fees based on expected or historical ROI and conversion metrics.