Formula estimate if influencer sales
Top influencer marketing measurement benchmarks
A standard sponsored Instagram post typically includes a photo and caption. Determining what that swipe up or conversion is worth will vary depending on the product being sold. Covering any expenses associated with a shoot like renting a studio, hiring a hairstylist, et cetera will also be a factor. Because the combination of content required for executing a contest would be unique to each brand and influencer, the best way to estimate what it would cost is looking at the individual elements and adding those up: for instance, do you want five photo posts and a Story to promote your frozen-yogurt-for-life giveaway?
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Production quality can range from off-the-cuff smartphone footage to polished uploaded content, and costs will vary accordingly. Depending on your Instagram marketing goals , certain influencers may be a better match for your brand.
An Instagram story is a photo or video that vanishes after 24 hours. Micro influencers , meanwhile, have 25, followers or less, and are very often popular in location or topic-specific communities. Power middle influencers fall right in the middle of them all, as you probably guessed, with a highly engaged audience in the 10, to , range.
Most content creators appreciate that a video involves greater production costs than a photo, but the added investment can often translate into more than just added engagement. But what cut of that is your average, non-Kylie Jenner influencer getting per post?
The Total Guide to Influencer Marketing Measurement
See above. Or, go even bigger with a mega influencer : those with followings of one million or more! However, there are ways to make sure brands are getting value from their sponsored post, and influencers are being fairly compensated for their work. Try working with a nano influencer : accounts with 1, to 10, followers.
They specialize in a range of industries of categories, including anything from sports and gaming, to travel and food. A conversion on a hot tub, for example, is worth more than a conversion on a lipstick. The swipe up feature on Instagram is a seamless way to earn in-app conversions and website visits.
Try these proven Instagram influencer pricing formulas to get started. Read on to find the best formula for calculating rates, the ballpark cost of different types of posts, and other factors that might affect influencer pricing for your next influencer marketing campaign. For brands looking to create widespread buzz, macro-influencers with large follower accounts may be the best bet.
Instagram contests are a great way to grow followers and brand awareness. From personal finance to plant-based influencers , there are nano, micro, power middle, macro and mega influencers in every category. So Instagram Stories with swipe up will likely cost more than the average cost for a Story post itself. Want to get even more niche?
Even for the biggest celebrities and even among the Kardashians themselves! Macro-influencers typically have more than , followers, which gives them the ability to reach a wider audience. In other cases, like when a service is being promoted, the caption is more crucial. In some cases the product is featured in the image.
Instagram Influencer Pricing: How to Determine Influencer Rates in
There may be additional charges based on how time or labor intensive preparing or monitoring this is for the influencer — so expect this to cost more than a typical story. In this case you might use a formula adding up all the different types of posts involved in your brand takeover, plus your hourly rate for planning and strategizing if applicable.
Do you want quantity or quality with your outreach? But, of course, this still varies by the influencer. Of course, your brand goals will be a factor as well in determining which influencer will offer the most value. Affiliate marketing is one of the most common ways to make money on Instagram. How do successful influencers decide what to charge for their work? Engagement rates can be calculated by adding up all engagements on a post likes, comments, clicks, shares , dividing by follower count, and multiplying by Typically, influencers will have a press kit describing their rates and the types of partnerships available.
Depending on the campaign, bundled content or special rates can also be worked out to reduce labor and costs. Also, because the goal of a brand takeover is usually to gain new followers, you may want to consider charging by how many new followers the brand gets as a result of your takeover. Creating branded content involves time, labour, skill, and production costs.