Perhaps every Instagram influencer, first stepping into this business, feels awkward to speak about money. What if you set a too high cost and price yourself out, or on the contrary, set it too low and make people doubt your worth and have to work at a low price further? If you are new to this game and don’t want brands to take advantage of that fact, it’s better to get a formula of calculating your Instagram Influencer rate. InstaBF, a noted Instagram and IGTV provider, is going to unveil that magic formula especially for you! Ready? Let’s check this out!
What You Should Charge for the Next Influencer Marketing Campaign
Prior to negotiating on the cost of your influencer services with a brand, you should be aware of your worth. This way you will stay strong and realize whether this or that Instagram influencer marketing campaign is worth your time and efforts or not. There might be times when you’ll agree to lower the fee or demand a higher one. Yet, in all cases, remember beauty products, trips, and clothing won’t ever pay your bills. Hence, you’d better refuse to receive them instead of the money right from the beginning.
The standard formula for calculating your most optimal fee regardless of the type of the order is as follows:
Talent Fee + Distribution Fee = Your Charge
Now, let’s refer to either component separately:
Distribution Fee: Fey Factors
How much it costs to be featured on your Instagram channel is the distribution fee. Depending on five factors, the fee may differ:
Number of Followers
One of the most important facts here is the number of your followers. Surely, this shouldn’t become your major sell, yet striving to increase your follower count is obligatory. InstaBF can help you with this.
The engagement rate is another important factor. You can calculate it by dividing the average number of likes and comments by the number of your followers. For instance, suppose the number of likes and comments per post is 1000, while your follower count is 10,000. By dividing these numbers you get 0.1. To transmute the number into a percentage, multiply it by 100, and you will get 10%. That will be your engagement rate.
If you are an influencer, then your content is fine. But to offer your services for marketing outlets, such as billboards, magazines, TV commercials, you need to always work on improving the quality of your content. This will solidify your status in this business and help you earn even more money!
A true influencer should have a recognizable face. Don’t understand it literally, this can be as your appearance, so your unique style, your skills (making great cakes, dancing, handmade jewelry, makeup, etc.).
Demographics play a great role in the distribution fee, too. This depends on your niche: a brand selling its products/services to a particular audience, may either be interested in you or not even if you have millions of not target followers.
How much it costs you to create your Instagram content determined your talent fee. This can be calculated by adding all the costs related to the campaign and your hourly rate. To figure out the standard minimum budget, consider all the following points:
- Photo/video editor;
- The rate of the space your photo shooting will take place (hotel room, resort, etc.);
- Anything you will have to buy (balloons, flowers, food, decorations, etc.);
- Clothing and accessories you will have to purchase.
Afterward, count your hourly rate no matter whether it will be spent on photo-shooting, writing a blog post, etc. The starting price is $25 per hour.
Add the costs of expenses and your hourly charge, and you will get your talent fee.
So, no when you have calculated both your distribution fee and talent fee, you can get the most optimal price for your Instagram influencer services. The following chart may help you, too.