They’re content creators, distribution channels and the Millennial answer to celebrities. The all-encompassing term of ‘influencer’ is pretty much the dream job for any Gen Z teen right now. And while it may be a career that relies solely on a lucky break, just how much do you stand to earn if you do make it?
Well, according to recent figures, influencers (be they bloggers, vloggers or youtubers) will need around 10,000 followers before they can start to make anything. Payment at that level remains “fairly low” though with users being able to charge around £100 per sponsored Instagram post.
But from there, progression can be pretty quick. Once you find yourself at the 30,000 follower mark, you could be looking at £750 per post and larger accounts can be looking at well into the six figures.
More often than not though, social influencer marketing is about building mutually beneficial relationships between brand and influencer, rather than a transactional relationship on a post by post basis. This means that along with the influencers fees (to be set and agreed upon between the two parties – like with any business arrangement), brands will often send free products in the hopes of being featured on their desired Instagram accounts.
Another reason that a long-standing relationship is usually preferred is because the endorsement seems more credible. Influencer marketing may seem like a bewildering new world for some, but you just have to look at it that the influencers are providing a channel for people to look at. In the same way you’d expect to pay premium rates for a billboard in a prime spot, you can expect to pay a lot of money for someone with hundreds of thousands of followers. And instead of you creating the advert that you’d like to be place, the influencer handles that side of things as well.
The benefit to this form of marketing over traditional ones (like print, or even Facebook advertising) is that the bond between an influencer and their followers is built on trust. Users will only follow accounts that they like and it’s the aspect of genuineness that attracts people to influencers. So when they promote a product, their audience are more likely to follow through and buy it. The rates you pay for an influencer post is not just about numbers, but about the fact that their audiences are engaged and interested in what they have to say.
So how about some examples? Well for Love Island stars such as Kady McDermott (1.1 million followers), you’d be looking at paying around £1,000 per post. For popular Youtuber, Zoe Sugg (10.3 million followers), it’d be around £10,000 a sponsored post. And if you really want to splash the cash then a post on the Instagram feed of the iconic Kylie Jenner (who has a whopping 120 million followers), then it’d likely cost you £750,000 for one post!
The price isn’t always that black and white though, as with Instagram’s many features there are now so many different ways in which you can pay for an influencer to promote your brand. You could be featured on stories, you could get a swipe up link to your site or you could get a shop now feature woven in. Either way, there’s no doubting it’s big money and a trend that’s set to continue storming the world of marketing for years to come.
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