Keep reading to know the price for more Instagram post types and factors that affect Instagram influencer pricing.
Instagram Story with swipe up
The swipe-up feature on Instagram is a seamless strategy to get more in-app conversions and website visits. Because links are difficult to come by in Instagram’s ecosystem, story swipe-ups add more value. Instagram Stories with swipe-up links will have a higher price than a Story post itself.
We suggest charging your regular price for a Story, add a price for each “swipe” or website visit or conversion. Determining what that swipe-up link or conversion is worth will be a different recording to the product being sold. A conversion on a hot tub, for instance, is worth more than a conversion on lipstick. However, you could begin by asking for 3% to 10% of each sale.
Check out this formula when calculating the price of an Instagram Story with a swipe-up link:
Cost per Instagram story with swipe up = cost per Instagram story + cost per swipe up
Keep in mind that if you’re working with a micro-influencer who has under 10,000 followers or is not verified, they can not access this feature.
Instagram Story with poll
Creating an Instagram Story with a poll is a low-cost way to understand more about an influencer’s followers (and your prospective customers). There will be more charges based on how time or labor-intensive preparing or monitoring this is for the influencer — so expect this to cost more than a normal story.
Cost per Instagram story with poll = cost per Instagram story (Recent average view x $0.06) + cost per poll (hourly rate for extra labor)
Instagram Story AMA
Any Instagram Story with an extra interactive element to it — whether that’s an Instagram Live or posts using the Questions sticker — is going to have a higher price than a standard sponsored Instagram Story. And they will be different based on the influencer.
Brand Takeover
A brand takeover usually includes hosting the influencer’s content on your brand’s feed for an agreed-upon length of time. A takeover agreement may include asking the influencer to promote it a certain number of times from their account–in posts and/or Stories.
In this circumstance, you might use a formula adding up all the different kinds of posts including in your brand takeover, plus your hourly rate for creating and strategizing (if applicable).
Also, the purpose of a brand takeover is usually to increase more followers. So, you may want to consider charging by the number of new fallacy owners the brand gets as a result of your takeover.
Caption Mention
Because a caption mention will likely cost the least money or time to produce than any of these other influencer choices, it will be the cheapest option. However, of course, this is still different based on the influencer.
Affiliate Marketing
Affiliate marketing is one of the most common strategies to make money on Instagram. It’s the practice of having an influencer who is repping your product earn a commission for every sale of mentioned product.
As of 2021, Instagram influencers generally earn 5-30% commission in affiliate marketing contracts, with bigger influencers starting in the 8-12% range.
Types of Instagram influencers
From personal finance to plant-based influencers, there are nano, micro, power middle, macro, and mega influencers in every category. Depending on your Instagram marketing purposes, certain influencers may work well for your brand.
For brands trying to create widespread buzz, macro-influencers with massive follower accounts may work the most effectively. Macro-influencers typically have more than 200,000 followers, which helps them to reach a high audience. (Or, go even bigger with a mega influencer: those have one million or more followers!)
Micro-influencers, that have around 25,000 followers and are very often famous in location or topic-specific communities. They specialize in a range of industries of categories, including everything from sports and gaming, to travel and food.
Do you want to get even more niche? Take a look at a nano influencer: accounts with 1,000 to 10,000 followers.
Power middle influencers fall right in the middle of all the influencers with a highly engaged audience in the range between 10,000 to 200,0000 followers.
Other factors that affect Instagram influencer pricing
Brands should budget for these cost factors that affect Instagram influencer pricing when marketing with influencers.
Usage rights
If you want to own the content you create with an influencer so that you can use this content on other platforms or down the line, this will likely affect the influencer’s rate.
Exclusivity
Most contracts include an exclusivity clause, in which the influencer agrees not to collaborate with competitors for a specific length of time. Since this could cost influencers prospective deals, it will have an impact on the cost.
Social amplification
Chances are, influencers are making trends on other social media platforms as well. Brands can negotiate cross-posting deals in order to get the most reach out of a sponsored post.
Niche demographics
Does the influencer have intimate access to a group that’s helpful to your brand? They may charge a premium. Supply and demand, baby!
Hiring photographers
Various production-related costs such as how long it takes to make the specific content (labor), props, clothing, hair and makeup, photography, editing, and travel, should influence influencer rates.
Agency fees
Many influencers are represented by managers or agencies such as Crowdtap, Niche, Tapinfluencer, or Maker Studios. These companies will typically include handling fees.
Campaign length
The length of the campaign will have a direct effect on the influencer rate based on the added labor, content, and exclusivity requirements attached to it.
Timing
Depending on how much time a brand gives an influencer to make complete content, a rush fee may be applied.
Brand fit
If an influencer feels that a company lacks a level of affinity with their personal brand, they may charge for what the partnership may cost them in credibility.
Content-type
Some kinds of content are more difficult or time-consuming to create than others. Influencers may give discounts for easier-to-execute formats, or charge more for those which are more intensive.
Link in bio
If your target is to drive traffic, ensuring that there’s a link to your website somewhere is the most important thing. It’s not uncommon for influencers to charge more to add a link in the bio.
Now that you have more information about Instagram influencer pricing, keep learning about how to work with an Instagram influencer.