Realistic Pricing: What Can You Expect to Pay a Micro Influencer?
We have already discussed the incredible value of micro-influencers to a business or brand, so it’s now time to talk about pricing!
This can be a touchy subject as some brands may well feel that the gift of the product is sufficient payment for an influencer campaign.
It’s worth noting that if your influencer is a self-employed, this is their job. They have bills to pay, expenses to cover and invest a lot of skill, time, energy and money into their blog and managing their community as this is their livelihood.
Influencers do more than you think
You wouldn’t expect to not pay your SEO agency for the work they do to drive traffic to your website? Or the social media agency who write great posts on your Facebook page? These are businesses who are completing contracted work for your brand and they get paid for it.
When you engage an influencer to promote your product, you’re actually getting all of these things and more. You’re getting high quality, SEO friendly content which will continue to have positive long-term effects on your website after the campaign is over, you’re getting your brand in front of a relevant, engaged audience who trust your influencer’s opinions and recommendation. You’re getting a brand ambassador who will engage with your target audience on your behalf in an authentic way that can drive real converting traffic to your site!
Micro Vs Macro Influence
Micro influencers cost a lot less than big influencers – and where they may have 10K followers or less, they engage with their followers and have spent time getting to know their audience in order to create content tailored to them which is more likely to be clicked on, commented on and shared. Big influencers have the follower numbers, but you will usually find the engagement rate is low – and post engagement is what really matters when it comes to driving traffic to your website that converts into sales. Also, do not always be fooled by high follower numbers as some people buy their followers to boost numbers – but they are bots.
Rough Pricing Guidelines
If you are providing an expensive product to your influencer and they are happy to provide a review of this in exchange for the gifted product, then this is great. Most micro influencers will be happy with this.
If your product is cheaper, you can expect to pay them between £50 and £100 for writing the content and featuring this product on their blog and social media. This is to compensate them for their time, photographs and a contribution towards their expenses (blog hosting, software, camera etc).
For sponsored content, the influencer may usually have a flat fee for each piece. Or they may tot up the hours they spent and any tools or software they used to create the content and plan promotion and set different prices according to this.
However, for a micro influencer, you should look at paying anything from £50-£250 for a piece of sponsored content. This is also due to the fact that the brand can usually provide artistic direction with sponsored content, unlike with product reviews.
Social media posts
If you are looking to get the influencer to share your product or content on their social media channels, they will probably have a set price for this too. They will factor in their follower numbers, their engagement time and any editing, copywriting and scheduling work involved. You can possibly expect to pay up to £50 (either per post or per series of posts across various channels).
Understanding the value of influencer content and the benefits (both long term and short term) this influence provides your website, brand and sales is key to working out the details for a productive and fruitful relationship with your influencer.
As always, talk to us about any queries you may have about working with influencers and what it can mean to your business. We have approximately 20,000 influencers on our books and they all understand how to create dynamic high-value content and enjoy brand collaborations that work well for their audience. Get in touch with us to discuss how working with our influencers can help your business!
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