Influencer Marketing pricing and rates (2019)
So, you want a campaign with a digital influencer, but how much will it cost? How much should you pay for a service?
Here are the criteria that will help you define which rate to apply to succeed in your digital campaign.
- The subscriber base’s level of engagement
- The scope of the influencer marketing partnership
- The choice of system
- The proximity between the influencer and the brand
- And how much does an influencer campaign cost for B2B?
The subscriber base’s level of engagement
First stage: defining the target influencer’s level of influence – also called a Key Opinion Leader.
To do this, there are two criteria: the size of the community and their level of engagement. The larger their subscriber base, the higher the rate that may be required by the influencer. That’s because building such a community and being able to engage with them on a daily basis is time-consuming. They will achieve a greater reach and therefore more impressions, and will help the brand benefit from maximum exposure.
In the same way as any form of media, the influencer is entitled to set their rate in proportion to the visibility that they can offer.
One criterion that is just as important as the number of subscribers: engagement. It is often one of the first indicators that lets you unmask fake followers.
If the level of subscriber involvement is low or unusual – numerous strange accounts commenting with relatively generic comments – their audience is not in fact actively interested in the content and the advertising message risks going unnoticed.
To be an influencer, you need to capture the interest of your audience, and this interest is measured accurately by the level of engagement in your publications. It is therefore crucial to get a balance between the size of the community and its average engagement.
The scope of the influencer marketing partnership
Does it concern publications only, of attendance at events? How many publications are planned? And above all, how many influencers are being used for the operation?
In brief, workload, the time invested, and non-financial compensation. All this needs to be defined before signing the contract and paying.
If you invite them simply to enjoy an exotic trip, they won’t ask you for the same rate as they would for creating high value-added content. Equally, simple product placement in a photo or video – without storytelling created especially for the occasion – will cost less than a campaign over several days in the form of a challenge, for example. It all depends on objectives, ambitions and expected results.
Don’t forget that they have turned their image into a business, a source of income, and that they are also demanding.
And if the partnership involves the use of an influencer’s image in places other than on their own social media, you’ll need to take into account additional budget for image rights.
The choice of system
A tweet, which is by definition short-lived, will not cost the same as a Facebook post. A photo on their Instagram account will not be the same cost as an Instagram Story.
They won’t ask the same remuneration for a video created by them and published on their YouTube channel than for a video created by you and published on your channel.
The proximity between the influencer and the brand
Last, but by no means least, the fourth criterion is the affection that the influencer has for your brand. If they feel concerned, if they are really interested in working for you, they may be less demanding when it comes to remuneration.
This also depends on the relationship that you create with them. If you treat them as equals, as an expert in their field they will better positioned to offer you their image for less. Managing the relationship with the influencer is therefore essential.
And how much does an influencer campaign cost for B2B?
An influencer marketing campaign for B2B generally follows the same mechanisms as a B2C campaign. The main difference is obviously the target market, which will impact on your choice of influencer.
But still, the pricing criteria will remain the same:
- The quality and size of the influencer’s community
- The scope of the influencer partnership to be established
- The ability to maintain a good relationship with the influencers
And the ability to accurately define your objectives and digital influence strategy before launching the influencer campaign.