How Much Money Do Influencers Get Paid?

How much are influencers paid? Macro influencers and micro-influencers  are the two main types of influencers on social media. What is the difference between the two? A macro in influencer has more than 10,000 followers while a micro-influencer has between 1000-10000 followers.  Celebrities make the largest group of macro-influencers. However, some content creators have themselves to that level too. So, how much do such people earn?

 Ever thought of becoming an influencer? Here is how much you can earn per social media platform:

 But first….

 Factors determining how much influencers get paid

 There are quite several factors that influence the pricing of this marketing modality. Here are some:

1.   Pricing model

Pay per view: This is a result-based pricing model. The amount of money paid to an influencer is determined by how many views are earned by their content. It is the most common type of pricing model because of its accuracy.

Pay per subscribers: Pay per subscribers method might not be as common as pay per view but it is also preferred among some brands and influencers. The main challenge is that in most cases only a few of the influencer's followers can see and engage with their content.

Pay per acquisition: This is the most aggressive result based pricing method. This simply is determined by the post’s conversation rate.  There are several ways to determine a conversion rate depending on the brand’s objectives. It can be someone purchasing an item to them joining an email- list.   It is not easy to come across this type of pricing model.

Pay per click: Pay Per click simply means that one is paid depending on the number of clicks the post drives. This is more so in a case that consumers use a call to action on the influencer’s social media post to visit a brand's website. This pricing model is not common among influencers.

2.   Preferred social media channel

An influencer marketing campaign on YouTube costs more than that of Twitter. Even though, you will realize that the difference in pricing between the two social media platforms is minimal, the best way to go about this is to determine which social media platform hosts most of your target audience as a brand.

3.  Is it a product or a service?

This is another influencer marketing pricing determinant. Influencers tend to charge more to advertise expensive products. Influencers that can reach high- earning audiences also charge more compared to those that can only reach average – earners. It is no brainer that high- earners are likely to buy or even spend without much thought.

4.   Means of contract

Most influencers have businesses out of their social media life, while others are into influencer marketing full time. Again, some of the influencers work with an agency and this highly determines how much they get paid for the offered services.

Mostly influencers that use an agent tend to cost more because of the commissions that is needed to be paid out to the agents or managers. In most cases, agents determine an influencer pricing by looking at the number of followers they have, their engagement rate and type of audience they have. This just shows that a brand might end up spending more when working with an influencer with an agent. It is always cost-effective for brands to hire unrepresented influencers.

 5. Type of campaign

Some influencers may charge a brand by the number of posts and others a flat rate per campaign. A campaign is likely to cost more since it comprises several posts geared towards promoting a certain product or service. It all depends on the brand's objectives and budget.

6. Number of social media platforms involved

Influencers have accounts across several social media platforms. It always makes sense for brands to advertise across several platforms to reach out to more consumers. It will cost a brand more if an influencer creates a post on Facebook and shares it on Instagram.  In most cases, the business pays the influencer based on the number of followers they have on particular platforms and their post engagement rate.

7.   Terms of service

Some brands may want an influencer to promote their services or products exclusively. The contract states when the influencer starts the endorsement and when they should stop. There is always a way that a brand determines the need for exclusive advertisement.

 Influencer charges per social media platform

  Here are the four main platforms for influencer marketing and what influencers earn per each:

Instagram

Instagram has become the largest platform for endorsements. It is quite affordable when it comes to influencer marketing and this explains why it features several advertisements.

Instagram influencers charge an average of 500$per 10,000 followers. However, most influencers with more than 10,000 followers earn about 100$ per post. Those with more than a million followers charge 10,000$ per post.

It is worth mentioning that prices can vary largely with the celebrity category because of their reputation off social media. A good example is Cristiano Ronaldo who earns about 750,000$ per post, he has 190 million followers on the platform.

Facebook

With about 1 billion users, Facebook is a gold mine for influencer marketing. How much are influencers paid on this platform? The average cost of a single post is $25 per per 1000 followers. Those with more than a million followers charge about $25,000 per single post. The type of content the influencer creates for a brand also determines how much they earn from a  single post. For example, video content may cost more per 1000 followers.

Twitter

At the time of writing this post, twitter had around 335 million active users. This platform may not have a large audience compared to Instagram and Facebook but it is a fertile ground for influencer marketing. How much are influencers are paid on twitter?  The amount they earn largely depends on the number of followers they have. The average pay is $2 per 1000 followers. It is ok to say that this platform has the lowest influencer marketing rates. Those with more than one million followers charge about $2000 per post.

 YouTube

YouTube is a video search engine. It has more than 1 billion active users.  On average the influencers are paid $20 per 1000 subscribers. The beauty of this platform is that those influencers with more than a million subscribers have the power to determine how much they earn from endorsements. On average those with more than one million subscribers charge about $20,000 per video.

Blog

Most influencers also run their blogs. Brands are aware that through blogs, influencers can engage with their audience. It is for this reason that blogs have become an important aspect of influential marketing. On average influencers are paid $60 per 1000 visitors to a given post. Even though, it is vital to understand that it all depends on the blog niche. It is right to say that blogs in the travel and photography niche charge more than the average amount for a post. The length of the topic to be written about and the topic is also other price-determining factors. All in all, blogs can reach a larger audience.

 Conclusion

How much influencers get paid is determined by several factors, some of which we have listed above.  Some influencers make an excellent living out of this type of marketing. This shows how lucrative it can be.  You can become an influencer too, hard work and patience are what will determine how best you become at what you do.