Influential bloggers normally charge fixed rates or fees based on their reach and the industry in total. Provided you've never dealt with Instagram influencer marketing and have a limited budget, it is reasonable to begin with a nano- or micro-influencer partnership.
Smaller bloggers ensure better efficiency of investments with a lower fee. Influencer Marketing Hub claims that bloggers with up to 250,000 followers provide 30% and 20% better ROI on your spend compared to macro- and mega-influencers, correspondingly.
And while a buck remains a preferred payment method for creating promotional posts for brands, there are still the 54% of true product fans
who are ready to advertise it after receiving it for free. So, if you know someone who 100% agrees to barter, you can significantly amplify brand recognition and boost sales without even spending a penny. How much do Instagram influencers cost?
The price an influencer charges you for any type of promotion depends on different factors, from follower count to the industry and the country the bloggers live in. The other criteria for estimating Instagram influencer price also involve consideration of:
- The average engagement rate
- The partnership duration you expect
- The best-suited content for your campaign
- The amount of effort an influencer makes to create a sponsored post, etc.
The influencer marketing cost also depends on the platform where you get your product advertised. Here's a starting point for how other platforms compare to Instagram: