Many brands have begun focusing their communication strategy on micro-influencers or top influencers. The payment to an influencer depends on many factors.
There are many reasons why they are proving a profitable investment for branding and sales. In the case of micro-influencers, there are different ranges. Those seem to be a good option for small-medium size companies that want to do influencer marketing. We can infer that 90% of brands consider micro-influencers those that have between 5,000 and 30,000 followers.
The world of influencers is constantly evolving, and the professionalization of them is taking leaps and bounds. In the case of micro-influencers, they receive a greater number of collaboration offers and are therefore increasingly willing to listen to offers and give relevant statistics and media kits to show and sell their profile.
What must be considered?
There are different factors to take into account when offering collaboration and payment to an influencer:
1. The socioeconomic level of the country where you are going to collaborate. The incentive varies greatly, depending on the country in which you want to create the campaign. Two influencers with the same number of followers from different countries may have very different fees. It is also important to understand that there are more advanced countries in terms of influencer marketing. In those countries, it’s much more aggressive and competitive between brands.
2. The product or service offered. Sometimes, if the product of the brand or the experience offered by the collaboration is attractive enough, or has considerable economic value, collaboration can be achieved without a fee. Many brands are interested in these options with micro-influencers since the cost for the brand is lower than the incentive perceived by the influencer (depending on production costs of each sector and profit margin).
3. You have to take into account your expectations of the publication. It is not the same to ask for a large number of very strict publications as it is to ask for more flexible publications. The influencer tends to more easily accept collaborations if they consider what is perceived proportional to the work that is required. Normally, posts by stories are more comfortable than plain posts. Another example might be that an influencer may feel more comfortable with a timeframe for publication instead of a defined date. The same is true for publications that do not need prior review and are only given guidelines to communicate. In this article, you can learn how you can approach influencers.
How much to offer the micro-influencer?
As we mentioned before, a payment to an influencer can vary greatly. Prices for profiles of 5,000 to 30,000 followers in Europe can typically be around the following:
- Just a post: $90 - $390 (80-350 euros)
- Instagram story: $45 - $165 (40-150 euros) (between 50% and 35% around the cost of the post)
- Pack of posts and stories: $130 - $550 (120 - 500 euros)
If as a brand, you are able to offer an experience or product that surrounds those values, surely you can negotiate a collaboration without a fee. It can also be products or services of special interest to the micro-influencers. With that type of collaboration, they could potentially collaborate without a fee.
Packs of publications for a specific action are always cheaper. There is also the possibility of closing an annual collaboration, which is a major initial investment. However, it assures you more publications for less cost and exclusivity in your sector. This would be to consider them a brand ambassador.
How much to offer a top influencer?
In these cases, it depends on the type of influencer, the industry and the country they are from. There are some top influencers that are celebrities and have very high fees regardless of the type of publication that it is. Influencers with an audience of more than a million users, often have very low engagement. Influencers that have less than 150K followers, often have an average engagement of 3% which is considered good in most of the industries.
Because of this, we consider collaborating with influencers because they usually have a highly engaged audience. This will give you better brand exposure to your target audience. In Heepsy you can filter by engagement so you find those influencers that have a good percentage.
Find out how much influencers can charge on Heepsy
In order to have a greater analysis of the influencer profile and to assess the fees of each influencer, our influencer marketing search engine offers great comfort and reliability to brands. On the one hand, you can find the profiles with the greatest engagement in the category and location of influencers through which you are looking. On the other hand, it offers you a very complete report, with all kinds of metrics for your account and audience. Additionally, you can obtain an estimate for rate ranges in which this influencer is in line with, the influencer’s relevance, and their authenticity.
To see the average payment of an influencer, find it in the profile of the influencer. Here you will see the cost estimate of an influencer: