Building your social audience matters. It will help you sell books, raise crowdfunding, persuade sponsors and media that you and your adventure matter to other people. And at some point, your audience may become big enough for you to charge brands for sponsored posts.
To make that work, you'll need to answer two key questions:
- How big does your audience need to be? How is it judged?
- What would be a fair offer? How much can you ask for?
Each negotiation will be unique, but the brands may be as confused as the influencers when it comes to judging numbers or making a fair offer. It helps to have an idea of general trends in the marketplace.
What factors affect your market rate?
1. The Platform
Instagram is currently the top choice for influencer marketing. YouTube and Snapchat are popular, and musical.ly is on the rise. Facebook and Twitter are less common.
2. The Size of Your Following
The number of followers that you have is still the quickest way to judge your influence. However, as it is well known that one can buy followers, other metrics also count.
3. Your Engagement Rates
How many people like your posts and comment on them. And how active you are in replying to those comments. A smaller following that is highly engaged with the influencer can deliver better value for the brand than pure follower numbers. Social media algorithms also increasingly prioritise engagement in giving visibility to your posts.
4. The Product / the Industry
Outdoor equipment costs less, and is going to pay less, than sponsored posts for fashion, or luxury cars. On the whole, the more expensive the item you are promoting, the more you can charge for the post.
5. Direct or through an agency
If the deal is being done via an influencer talent agency, they will be taking a percentage of your fee. But they may well have bigger clients on their books and drive a harder bargain that you would have on your own.
6. The extent of the campaign
How many posts does the brand want? Do they create the posts or do you? Do they want you to cross-post to the platforms? Do they just want the posts up for the length of a campaign or do they want them to be permanent? The more work you have to do, the more you should be charging.
How much should you charge?
$10 per 1,000 followers
If you are stronger on engagement than on pure follower numbers:
$250 to $750 per 1,000 engagement
Tools to help you assess your current value on Instagram
$20 per 1,000 subscribers
YouTube takes more work to create a post, so rates are higher. However, not every subscriber watches every vide so another way to price is your average of video views.
$50 to $100 per 1,000 video views
$10 per 1,000 followers
However, Snapchat doesn’t reveal the follower count, so that number is often estimated from the number of views of the first Snapchat story. Another way to price:
$100 per 1,000 views
For the origin of much of this information, follow up with this helpful article from Buffer, and then track back to their sources.