How Much Should an Influencer Marketing Campaign Cost? A Marketer’s Guide

What if your marque could pat into the assemblage of an online superstar? Getting your connection crossed to a applicable assemblage tin beryllium priceless. 

In the past, lone large brands could spend personage endorsements. Now, with the powerfulness and scope of societal media, influencer selling is acold much accessible. For conscionable $700, you could get a scope of implicit 15,000 impressions—and if your marque is simply a large spender, you could spouse with a TV personage similar Emilia Clarke for astir $130,000. 

Let’s dive into influencer selling run costs, truthful you tin commencement readying your precise ain influencer selling campaign. 

What Exactly Is an Influencer Marketing Campaign?

Influencers person scope and credibility. They usage their talents, cognition oregon property to link with radical connected societal media, and the hint is successful the name—they tin power their followers choices and purchases. So, influencer selling is simply a maneuver wherever businesses and brands collaborate with radical who person a important pursuing oregon power successful a definite people market. The influencers make contented which promotes a merchandise oregon service, and shares that promotional contented with their followers. 

What Kinds of Influencers Are We Talking About?

Influencers travel successful each shapes and sizes—and connected immoderate online transmission you tin deliberation of. At the top, of people we spot huge-names similar Kim Kardashian and the astir fashionable YouTuber of each time, MrBeast. But determination are plentifulness of influencers with niche audiences, whose assistance won’t needfully interruption the bank.

As a regularisation of thumb, you tin enactment retired however overmuch an influencer volition complaint per station based connected however galore followers they person and what transmission the station is connected (YouTube videos usually being much costly than a station connected X, for example). 

Influencer Marketing Hub estimates the pursuing outgo ranges for a azygous station connected respective channels based connected the size of the influencer’s audience.

Nano influencers 

Nano influencers typically person betwixt 1,000 and 10,000 followers. While these are small, posts shared by nano influencers payment from a adjacent knit assemblage wherever the influencer is often an adept successful a specializer field. Some of them are blessed to collaborate with brands successful speech for products oregon conscionable due to the fact that they emotion it.

Range of costs per station (all channels): from $0 < $200

Micro influencers

Micro influencers person betwixt 10,000 and 50,000 followers connected societal media platforms. This is simply a fashionable segment, with 77% of brands preferring to work with micro-influencers.

Range of costs per station (all channels): $25 -$1,000

Mid-sized

Mid-sized influencers tin number connected betwixt 50,000 and 500,000 followers. They are much well-known than micro influencers and person a wider reach. It’s worthy investigating however overmuch engagement they get per station earlier you motion up to a run with them.

Range of costs per station (all channels): $125 - $10,000

Macro influencers

These giants of societal media tin boast betwixt 500,000 and 1,000,000 followers, which means they tin complaint a batch much wealth per post.

Range of costs per station (all channels): $1,250 - $20,000

Mega influencers

Also referred to arsenic celebrities, these rarified influencers person much than 1,000,000 followers. They are the astir costly and tin bid millions of dollars per post. 

Range of costs per station (all channels): $2,500+

Estimating Your Influencer Marketing Campaign Cost by Channel

From these figures, it’s wide that the influencer selling manufacture is worthy a batch of money—$17.4B successful 2023, according to manufacture insiders. So, it’s understandable that you mightiness beryllium disquieted that a run similar this volition permission a superior dent successful your finances. 

But there’s immoderate bully news! With implicit 50 cardinal influencers hanging retired connected your favourite channels, moving with them tin beryllium overmuch much affordable than you’d imagine, depending connected which societal media level you choose. 

Here’s database of mean planetary prices per platform:

What Types of Collaborations Are Available?

There are a large galore selling campaigns that businesses tin make by teaming up with an influencer. It’s important to retrieve that antithetic types of collaborations are suitable for antithetic budgets, and costs tin alteration depending connected the industry. 

For example, wrong the tourism manufacture it is communal to connection accommodation, spa visits oregon different question experiences successful instrumentality for promotion by an influencer, which keeps costs down. Howere, successful the manner industry, brands wage for exclusivity arsenic they don’t privation to enactment with an influencer who promotes the caller Gucci container 1 week, and past the caller Prada container the pursuing week. So, the outgo of partnering with an influencer tin beryllium considerably higher for luxury manner brands. 

Very often influencers volition connection station “bundles” wherever they complaint little wide for a longer-lasting collaboration. Influencer Analytics and different platforms tin assistance broker these deals and assistance you get the astir bang for your buck.

Here’s a look astatine immoderate of the astir fashionable options and immoderate mentation connected pricing.

How to Estimate Your Campaign Cost

Now you cognize what options you have, you request to enactment retired however overmuch your influencer selling run is going to cost. 

Platforms similar Influencer Analytics serve arsenic a one-stop store for moving influencer selling campaigns. They tin assistance your concern enactment retired however overmuch definite influencers and campaigns volition cost. 

Here’s a speedy usher to utilizing the platform. In the pursuing usage case, we’ll ideate we are a small, UK-based gaming institution with a constricted budget:

1. Starting with the influencer find tab, take the transmission you are funny in. There are much than 27 cardinal influencers to take from! The gaming institution already has a bully beingness connected Twitch, truthful they privation to grow into YouTube marketing.

   

2. Use the filters to elite your industry, fig of views, subscribers, connection and country. In the illustration beneath we are showing the plan, successful the gaming niche. 

3. You’ll beryllium presented with a immense database of applicable influencers, filtered arsenic you like. You tin click connected immoderate to grow their details. Below we person 2 examples: A mega influencer and a micro influencer. You’ll spot their stats and however overmuch it volition cost, connected average, to prosecute their services. 

With an integration outgo of implicit $250,000 the archetypal influencer is retired of budget. A further look reveals Deep Silver, a UK-based influencer with a much manageable terms range.

4. You tin besides spot however good each influencer does successful presumption of transmission quality. This volition assistance you find whether it is worthy spending your fund connected immoderate peculiar influencer. Below, you tin spot an illustration of a mediocre prime influencer and 1 that is categorized arsenic Good. 

It’s important to carnivore successful caput that assemblage size is not the astir important metric. Number of likes, engagements and comments are amended indicators of a palmy campaign. 

It’s besides worthy noting that influencer fees don’t ever tally with the transmission prime rating. So marque definite you wage attraction to these metrics.

5. Once the gaming institution has established that an influencer has bully potential, they tin adhd them to a shortlist. You tin bash this with the integrated database gathering tool, and past take the astir applicable and cost-effective influencers for your brand.

Later, you’ll beryllium capable to make and negociate your influencer campaigns and adjacent invitation colleagues and clients to enactment up to date. The level besides offers data-driven show forecasts and automated reports.

Final Thoughts

When you archetypal commencement moving with influencers, you’ll request to cognize however overmuch it’s going to outgo and whether oregon not it’s going to beryllium effective. Then, there’s the clip associated with reaching retired to influencers, the negotiations, and business-influencer relationships. 

With a level similar Influencer Analytics, you tin acold much easy negociate campaigns, connection and adjacent forecast costs and study connected your successes.