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Average Salary of an Instagram Influencer | Your Influencer




When it comes to the topic of Instagram influencers, a lot of people tend to ask questions like what is the average salary of an Instagram influencer?

How much do Instagram Influencers make per sponsored posts?

In a world of social media and brand partnerships, what's the cost of influencer marketing?

Well, we'll address all of those in this article.

For businesses looking to grow on Instagram, knowing the budget to allocate to influencer partnerships can be very challenging.

With tons of factors to take into account- like influencer's engagement rate, follower count, production costs and project scope- it's no surprise why it can be challenging to know the fair price for branded partnerships.

Curious about how many dollars Instagram Influencers make per sponsored posts?

Grab a cup of tea, cause I'm about to reveal all the details.

average salary of an instagram influencer

WHY ARE BRANDS INVESTING IN INFLUENCER MARKETING COSTS AND PROJECTS?


Instagram Influencers seems to be a very trending topic on social media, and with the look of things, you can expect to continually see more of these social media stars flooding your feeds.

These sponsorships and collaborations have almost replaced traditional ads and are a large part of the present social media strategies.

According to Influencer Marketing Hub, influencer marketing had grown from a $1.7 billion industry in 2016, and it's likely to continue its ascending movement to become a $5.6 billion industry potentially.

In fact, influencer marketing is on its way to becoming a $8-billion-dollar industry by 2020. So, if you've haven't started partnering with influencers to market your brand on Instagram, now is a perfect time.

Also, Instagram influencer partnerships are by far the best performing platforms where brands can quickly reach out to new audiences. With an average 3.21% commitment rate compared to the 1.5% through all social media.

More than ever before, businesses and brands are beginning to invest a large portion of their budgets to influencer marketing. That's because, when done correctly, it works wonders.

According to the 2019 influencer marketing company reports by Linqia:

  • 39% of marketers with a digital marketing budget that's above $550,000 plan to increase their influencer marketing budget

  • 17% are going to spend over $1 million and

  • 54% are looking to spend over $250,000 every year on influencer marketing.


This brings us to the question, what exactly is a fair asking rate?

What are the essential things to consider when agreeing on a collaboration?

How do you present your value to your potential partners?

In the subsequent sections, we'll be talking about how much influencers charge (earn) and precisely what they're charging for.

average salary of an instagram influencer

CALCULATING THE AVERAGE COST (EARNING) OF AN INSTAGRAM INFLUENCER


In the earliest days of influencer marketing, growing social stars would take on brand partnership in exchange for complimentary products.

Today, the narratives have changed.

Even though they're tons of micro-influencers still waiting to promote a brand in exchange for free products, the present-day, biggest Instagram influencers charge (earn) big cash to create posts for brands.

For such persons, their accounts have become a reliable source of income.

There's no questioning the fact that social media influencers have become essential for brand promotions, especially on Instagram.

But if you ask an influencer how much they charge (earn), you might be surprised to see the range of answers across the board.

So, how do you determine the average amount an influencer earns when they're so many factors to be considered?

average salary of an instagram influencer

THE CURRENT MARKET CHALLENGE: KNOWING FAIR INFLUENCER MARKETING COSTS


Even though they're no one-size-fits-all pricing model, many digital marketers stick to the $100 per 10k follower (or one cent per follower) rule, but that’s only as a starting point for their calculation.

From there, you can take other factors into considerations, like client budget, campaign length, engagement rate, and other partnership specifics.

However, influencers rate (earnings) can still fluctuate quite a bit.

According to Collectively's newest influencer marketing reports: "the controlling principle for brand-influencer collaborations is pretty simply: brands and influences are in a bid to benefit from each other equally. There's more than one way that brands can offer value, but money is king"

Here's what Matt Crump shared as his earning per post:



For McCloskey Shane, Director of Sales at Influence.Co, the cost of influencer marketing is a question that people frequently ask him:

"How much should we be paying influencers for their stories, posts, YouTube Videos, etc.? is this a fair rate? - the answer is simple and usually the same: it depends" said Shane.

He also adds, "In my experience of interacting with brand partners and agencies, there's absolutely no standardization in how influencers charge (earn) for partnership collaborations."

Even without any fence line in place, influencer marketing is still the wild west for many influencers and marketers alike. While some social media influencers might be underpaid for influencer services, others will earn more for their services.

"For instance, a social media influencer with over 2 million followers on Instagram might decide to charge $100 per post. While another influencer with twenty thousand followers on Instagram also charge the same $100 for the same post on their feed" Shane noted.

The current challenge for both brands and influencers is to be both competitive and fair in the market.

ANOTHER EXTRACT


According to Misty Grant of IMA Agency, "we can calculate what an influencer earns based on the reach, engagements rate, impressions and industry of the influencer. This help brands to be competitive and get the most value for clients".



Just like Misty points out, an influencer follower count isn't the only factor that determines a suitable partnership or what an influencer earns.

To help us get the most in determining the earnings of an Instagram influencer, we'll take a look at how micro- and macro-influencers charge and how they define their rates.

PARTNERING WITH BIG INFLUENCERS (THOSE WITH OVER 100,000 FOLLOWERS)


Partnering with big influencers often comes with a huge tag, but the investment can be worthwhile.

average salary of an instagram influencer

Some advertisers spend way over 5 million (minus production costs) for a 30-seconds super bowl commercial to reach out to over 100 million viewers- who might or might not be a brand's targeted audience. An influencer partnership with a niche audience doesn't seem like a bad business idea.

For instance, a sequence of Instagram posts by an influencer fashion blogger with 1 million followers and a trendy-following could sell out a complete product line in just 24 hours.

Lifestyle and travel blogger, Christiana Galbato shared that she earns around $2.2k per Instagram posts and $700 per Instagram story.

She also obeys the rule of $100 per 10,000 to calculate what she charges.

Another lifestyle blogger having around 118k followers and 2.5% engagement rate, gave his charges as shown in the picture below:



Another lifestyle blogger having around 170k followers and a 4.5% engagement gave his price as:

  • $500 per sponsored giveaways

  • $1000 per Instagram Post


The lifestyle blogger noted that "this rate incorporates endorsement of product/service on Facebook, Twitter, Instagram (plus story mention) or Pinterest.”

Likewise, a famous photographer and travel blogger with around 100k followers and a 9.2% engagement gave his rate as:

  • $2000-$5000 for a 60-Second Product Video

  • $1000 per Instagram Post

  • $200 per Instagram Story

  • $1200 per Instagram Post + Blog Post


It's evident that the average earning per single Instagram post among more prominent Instagram influencers with ~100k followers is $1000. Some other influencers charge varying amounts due to additional services.

 

PARTNERING WITH MICRO-INFLUENCERS (100 – 1000 FOLLOWERS)


Influencer marketing is assured of becoming a fundamental strategy for promoting brands and products on Instagram. With micro-influencers (those with less than 100,000 followers) yielding amazing results for businesses in 2019.

average salary of an instagram influencer

In fact, there was a time when micro-influencers posted about 84% of sponsored posts worldwide.

As the engagement rates on Instagram declines, many businesses are seeing the essence in partnering with micro-Instagram influencers.

One of the advantages of working with micro-influencers is that they have a highly-engaging following. They try to retain higher levels of engagements compared to top-tier influencers.

Micro-influencers also have additional benefits of reaching out to a smaller but targeted niche. For instance, travel bloggers Elaine Rystead and Taylor Loren of Local Wanderer (each with 64.8k followers) are loyally followed by people who love to travel and stay in cool places.

That's why it's no wonder their picture-perfect post drew in about four bookings in just 20 minutes.

Since the traveling stars typically earn around $500 per post, the hotel was able to get their ROI in minutes.

average salary of an instagram influencer

EXTRACTS


In an influencer marketing study, Neoreach concludes that the "larger the influencer, the lower the ROI"

Yeah, you read that right.

It's also reported that influencers with anything around 50,000 to 250,000 followers deliver a 30% better ROI for every dollar spent than macro-influencers and 20% better ROI  than those with over 1 million followers.

They also have a smaller price tag than larger influencers. A fashion blogger in Los Angeles with over 80k followers and a 7.1% engagement rate listed her pricing as:

  • Posts across all social media platforms (Twitter, Instagram, Facebook, and Blog): $400

  • Single Instagram post: 2 for $500 or 1 for $300

  • Per look or two looks for $600


She also notes that what an influencer earns "depends on services." Services offered include blogging, modeling, social media consultation, and LOOKBOOK art direction.

Another health and nutrition blogger with over 30k followers and a 7.3% engagement rate had the following pricing option in her media kit:

  • IG Giveaway: $350

  • Dedicated Instagram Post: $325

  • Brand IG Takeover (min 2 photos + Stories): $250 per day

  • Series of 5 Dedicated Posts: $1400

  • Series of 3 Dedicated Posts: $825

  • IG Caption Mention (No visible product): $75

  • Series of 5 IG Stories: $85


One of the best and affordable way to grow your small business is by working with micro-influencers.

average salary of an instagram influencer


IN-KIND INFLUENCER PARTNERSHIP


Even though cash is the most preferred form of payment, in-kind campaigns can still be a meaningful exchange. According to Collectively reports, "54% of social media influencers say they'd be more likely to posts in exchange for free products or in-kind if they're a genuine fan of the brand or product". An In-Kind transaction occurs when compensation is made in the form of assets (products, land, etc.) instead of cash.

Influencers with small followings are willing to do in-kind partnerships, specifically when they're already a brand supporter.

If you're a new brand and you're looking to grow, the possibility of reposting an influencer's photo to your broader audience might even be an additional incentive.

When asked how she computes her influencer marketing costs, micro-influencer and blogger Nicole Sadozai replied, "the greatest advice I got was at the Create and Cultivate event in Atlanta. My mentor for the day talked about the importance of knowing your worth and the value of your time"

She said, "no matter how small or large your following is, if a brand asks you to create content for them you need to ponder whether it's something you can do for free."

That's because, in the past, marketers have become used to paying teams of creative directors, producers, and photographers to build out their digital campaigns. So, they should also look at influencer marketing in the same vein.

average salary of an instagram influencer


INFLUENCER TRAVEL PARTNERSHIPS


Just like press tours, brands are incorporating Instagram influencer getaways, sending influencers on vacations around the globe: inviting them to hang out with friends, relax and or course post everything about it.

It's no wonder that these luxury getaways come at a steep price tag. Because when it comes to extravagant accommodations, brands tend to spare no expense.

Revelist examined a beauty brand, Tarte's Instagram influencer getaway and they estimated the cost of the trip. The list of expenses includes food and drink, travel on private jets, swags, and activities.

The trips total is a massive $338,640. But then, Revelist notes that this is only a modest estimation. These trips can definitely go beyond half a million dollars since the estimate doesn't include the cost of paying trip staff, the influencers and other expenses.

While these numbers might seem high, consider this: a one-page magazine ad costs approximately $250k while a 30-second national ad goes for $342k. Even though, these ads might or might not also reach the brand's target audience.

On the contrary, a sequence of an Instagram post by a fashion blogger who has 700,000 followers and a cult-following can sell out a complete product line in 24 hours.

BRAND AFFILIATES


average salary of an instagram influencer

The link in your bio is chief real estate, and influencers are partnering with brands to use it for affiliate marketing.

In some cases, Influencers are set up with an exclusive URL which offers their followers a discount. Once the followers click through a link to the website and make a purchase, affiliates will receive a portion of the sale.

Even though some influencers might prefer cash up front, affiliate programs can be a win-win for both affiliates and businesses alike.

Your influencer partner would be much more willing to continue talking about your products with a constant incentive than they'd instead do for a one-off partnership.

average salary of an instagram influencer

HOW MUCH DO SOCIAL MEDIA INFLUENCER EARN PER INSTAGRAM POST?


Some brands and agencies have reported that they pay social media influencers $1000 per 100,000 followers as a rule of thumb.

But then this isn't a strict rule, and the average salary of social media influencer varies immensely across different industries in the world.

Just like we've stated earlier, the amount that an influencer earns is dependent on many factors. Like their engagement metrics, location, their followers, the demand, the niche they're working and so on.

HOW DO INFLUENCERS KNOW WHAT TO CHARGE FOR EACH INSTAGRAM POST?


Really, it's not that easy for influencers to know what to charge whenever a brand approaches them. Specifically, if it's their first sponsored post.

If they try to charge too much, they might miss out on a job.

On the other hand, they could miss out a lot of money if they charge too little.

Luckily, here are some ways to go about knowing how much to charge for every Instagram post.

average salary of an instagram influencer

HOW INSTAGRAMMERS CALCULATE   THE AMOUNT TO CHARGE



  • Influencers can use Instagram Earnings Calculator to calculate the estimated standard earnings from their Instagram account. Based on the number of followers and engagements.

  • They can accept the offer provided by the brand they work with

  • Influencers can use standardized metrics, for instance, charge $1,000 per $100,000 followers

  • They can use engagement formula and parameters to calculate how much to charge. For example, (a standardized cost per engagement) + (the cost of creating the post + hourly rate)

  • Influencers can work with an influencer platform, agency to help them determine how much to charge

  • Some Instagram influencers might decide to charge based on the success of the post. For instance, the number of likes, comments, and views it receives in its first week of launch.


CONCLUSION


No standard structure can be used to determine the average salary of an Instagram influencer. It's entirely up to the brand and influencer to decide on a fixed price.

It's also worth repeating that some of the factors which determine what an influencer earns are: the number of followers that the influencer has, the engagement rates, the quality of the post, brand alignment among others.

If you're looking to calculate your estimated earnings, one of the tools that come in handy is Instagram Money Calculator.

There's no doubting the fact that Instagram influencers will continue to rule in 2019 and even beyond.

Do you have any question or comments on the average salary of an Instagram influencer? We'd be d to hear from you; leave us a comment below.

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