There’s no doubt that influencer marketing is on the rise, with large brands hiring Instagram users with large followings to create and publish posts promoting their products. With 700 million users it’s a big brand boosting lever… It is an exceptional marketing channel if done well!
These influencers are not necessarily part of the Kardashian family, or on the latest hit reality TV show. Many influencers have built up a huge following from posting brilliant content, correctly using hashtags (see our blog here) and becoming insta-famous for the content they post and the networks they build.
A key question for advertisers and marketers is just how much should you be paying influencers, and what kind of return are you getting on your investment.
Step in the team at influence.co
They have tried to provide some perspective, analyzing their data pool of 2,885 influencers to provide a range of insights into average influencer post rates by follower count, engagement rates and more. These numbers here, although not definitive, do give some indication of what influencers are earning, and what you might expect to pay an influencer.
At a glance:
- Size matters. Influencers with a million followers charge around 5.5x more than those with 100k followers
- LOOK AT ENGAGEMENT! influence.co’s data shows that accounts with less than 2K followers averaged a 10.7% engagement rate, while those with 1M followers averaged 1.5%
- The most expensive country per post is the United Arad Emirates with influencers charging an average of $274 per sponsored post.
The Influence.co team provided these great infographics, and you can see the full article here.