Influencer marketing costs
In 2020, the global value of influencer marketing was estimated at a whopping $9.7 billion, according to Influencer Marketing Hub. In a 2019 survey by Mediakix, 48 percent of marketers found influencer marketing return on investment (ROI) better than other channels while another 41 percent said the ROI was comparable. Meanwhile, 71 percent of respondents agreed that customer quality increases and traffic from influencer marketing performs better than other sources.
When it comes to compensating influencers, you’ll find a wide variety in payout structures. Although payment types may differ, the path to understanding how much influencers charge per post is simple to follow.
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Before you hand over your precious marketing spend, consider these variables:
- Which audience you are trying to reach
- The type of influencer involved
- The media platform
- The quality of the media
- The desired level of engagement
- Creative mandates
- Production costs
Cost based on influencer tier
Payment is often contingent on the size of an influencer’s following. With this in mind, social media influencers are often categorized by their audience size:
- Celebrities and “cewebrities” (1m+ followers): Famous beyond social media, i.e., movie, TV, music, or sports stars.
- Macro-influencers (250k–1m followers): Became popular by leveraging social media
- Mid-influencer (75k-250k): Their reach extends to an audience size that’s middle-of-the-road compared to the other influencer tiers.
- Micro-influencers (10k-75k followers): Everyday people with a decent following and influence.
- Nano-influencers (<10k followers): Everyday folks with smaller followings but not necessarily less influential.
Source: Marina Sinnott, Director of Activate Studio by impact.com
A bigger audience doesn’t always yield better results. According to a recent influencer marketing article, micro-influencers have the best engagement rates even if their number of followers is smaller. Keep that in mind when you judge value based on followers.
At the end of the day, price points can only be fairly established on a case-by-case basis. It’s useful for any marketer considering utilizing influencers to see some benchmark figures. Below we’ll explore types of media and the costs associated with posts.
Cost by social media platform
The second step to determining payment for influencers is truly understanding the social media platform on which they work. Payments vary by platform, as does customer interest. Influencers gravitate toward specific platforms so make sure you know which your target audience likes to use. More often than not, influencers are most active on these six social media platforms:
Influencer fees generally follow a range of costs per post — although these can vary drastically depending on the influencer niche, gender, engagement rate, location, etc. The following rates are the average costs of influencer marketing spend worldwide.
- Instagram. This cost-effective channel has an average price of $10 per post, per 1,000 followers.
- TikTok. Influencers on the platform charge between $5 and $2,500 per post.
- YouTube. On average influencers charge $20 per video, per 1,000 subscribers.
- Facebook. Influencers on the platform charge an average of $25 per post, per 1,000 followers.
- Snapchat. Influencers on Snapchat charge $10 per post, per 1,000 followers.
- Twitter. At $2 per post, per 1,000 followers, Twitter offers the lowest influencer marketing prices.
- Blog. Influencers charge approximately $60 per post, per 1,000 unique visitors.
Pay-per-post in the US
According to Insider Intelligence, US influencer marketing spend will reach approximately $4.14 billion in 2022. The following rates are the average influencer earnings per post in the US, based on the type of influencer and social media platform.
Instagram is the most widely leveraged social media platform. These are the average costs of an Instagram post in 2021 by type of influencer:
- Nano-influencer: $25–$200
- Micro-influencer: $200–$1000
- Mid-influencer: $1,000–$3,000
- Macro-influencer: $3,000–$15,000
- Celebrity: $20,000+
TikTok was the most downloaded app in 2021 with 656 million downloads. In the world of video content, TikTok is becoming an increasingly popular tool for influencers seeking to go viral.
TikTok tends to have high levels of engagement which makes pricing even more cost-effective, and well below YouTube pricing for video content.
TikTok pricing for influencers:
- Nano: $50–$300
- Micro: $300–$1,250
- Mid: $1,250–$3,500
- Macro: $3,500–$12,000
- Celebrity: $12,000+
YouTube pricing is higher and more fragmented than other media because video content is more time-consuming and expensive to produce than image- or word-based posts.
YouTube sponsorships include integrated videos or dedicated videos. In an integrated video your brand, product or service features in a portion of the video. Dedicated videos, on the other hand, showcase your brand, product or service in the entire video.
- Nano: $100–$500
- Micro: $500–$3.000
- Mid: $2,000–$5,000
- Macro: $3,000–$20,000
- Celebrity: $20,000+
While on the low end of the influencer marketing budget, Facebook still provides an important platform for influencers to reach followers.
- Nano: $25–$100
- Micro: $100–$800
- Mid: $800–$2,500
- Macro: $2,500–$10,000
- Celebrity: $10,000+
Snapchat influencers typically charge by number of views, which is often contingent upon their follower count.
Snapchat influencer post rates by number of views:
- 1,000–4,999 views: $500
- 5,000–9,999 views: $1,000–$3,000
- 10,000–19,999 views: $3,000–$5,000
- 20,000–49,999 views: $5,000–$10,000
- 50,000–100,000 views: $10,000–$30,000
Twitter influencers typically reach fewer impressions than on other social media platforms, but it may be the right channel to meet your audience where they are. Twitter rates tend to be lower, which can be very cost-effective for your brand. Often, content from other platforms can be syndicated to Twitter for an even lower cost.
- Nano: $10–$50
- Micro: $50–$350
- Mid: $350–$1,000
- Macro: $1,000–$4,000
- Celebrity: $4,000+
A final word on the cost of influencer marketing
When it comes to paying influencers, the path to payment comes from knowing all the factors: audience size, content type, social media platform type, the quality of the media you want, and the engagement rates for the influencers with whom you’d like to partner. Once you know those factors you can create fair and transparent pricing for all your influencer partnerships.
To get a handle on all the steps on the path to influencer payments, take a look at the Dynamic Payouts capability possible with impact.com. The feature enables marketers to set payouts based on more than 100 factors, such as customer status, margin, or the specific items in the order.
For a deeper dive into how influencers are paid now and will be in the future read impact.com’s ebook.
Free guide: Seven ways to pay influencers today and tomorrow
Learn all about influencer payment, ROI, and the cost of influencer marketing.
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Now that you’ve mastered the fundamentals of payment for influencer marketing, schedule a demo to learn how impact.com’s partnership management platform can help your brand strategically manage influencer campaigns, use Dynamic Payouts, and connect to influencers and creators.
Want to know more about influencer marketing? Check out these other impact.com resources:
- Ultimate guide to influencer marketing (ebook)
- Different strokes for different influencer folks [ebook]
- Your influencer program is broken [ebook]
- Scaling influencer marketing globally [ebook]
- How to set up a successful influencer program [worksheet]