How Much Does Social Media Influencer Marketing Cost?
Influencer Marketing is a big deal right now. It can work for a ton of industries, and not just B2C. But, like any good marketer, if you want to do influencer marketing, you gotta know how much it costs so that you can budget for it.
So. How much does it cost?
$5,000.
Kidding. It’s not that simple. That’s just the number you can expect to pay for an influencer who has 500,000 followers.
How much your campaign will actually cost depends on a few things:
- Social media platform. The cost for your campaign varies based on the platform you choose. Instagram is the top choice, but YouTube and Snapchat can be good too (depending on your audience.
- Following. More followers = higher cost. Pretty simple formula there.
- Engagement. Followers are easy to fake, but engagement isn’t as easy. Typically, influencers with higher engagement per post will charge higher rates.
- Product. General rule of thumb: the more your product costs, the more you’re going to pay for influencer marketing.
- Campaign. The extent of the campaign is going to affect the cost. Some questions to ask yourself: How many posts do you want from the influencer? Who creates the content? Do you want the influencer to keep the post on their profile permanently?
So what are the “market” rates for an average campaign?
- $10 per 1,000 followers
- $250 to $750 per 1,000 engagement/post
- Instagram Money Calculator is a great tool to help you price your Instagram campaigns
YouTube
- $20 per 1,000 subscribers
- $50 – $100 per 1,000 video views
Snapchat
- $100 per 1,000 views
- Don’t bother. With organic reach lower than ever, don’t even waste your money, unless you’re going to give the influencer ad-spend to run their own advertising campaign.
- Skip this one too, unless you’re willing to shell out some money for an ad campaign with your influencer.
Anyone have an Influencer Marketing success story? Hit that reply button, and let us know! If you’re lucky, we might just feature you in an upcoming Daily Carnage.
Too Little #TooLaterGram
Speaking of influencer marketing, wanna see how the World Wildlife Fund does influencer marketing? Believe us, you do. Because they killed it (hmm…maaaaybe not the best choice of words for an organization focused specifically on not killing things).
Anyway, travel influencers are always posting gorgeous pictures of amazing places they go to. You know the posts we’re talking about. The types that make you wanna quit your job and move there.
The WWF decided to take advantage of this with a little bait-and-switch. They had influencers post a series of pictures. In the first photo, it was the beautiful scenery. While the 2nd photo showed that same landscape destroyed by pollution, mining, clear-cutting, and a bunch of other forms of destruction.
Here are some examples of the posts themselves:
If you wanna see the video ad they created for the campaign, you know what to do…
Ads from the Past
Social Listening in 2018: 10 Ways for Brands to Succeed
Last week, we hooked you up with a stacked list of social media listening tools. Now, let’s go a little deeper.
Once you’ve got the tools, then what? First and foremost, you’ll understand your audience in more meaningful ways—ways that will help you differentiate your brand from your competitors. You’ll have better customer service, more competitive research, and the opportunity to boost your brand’s image.
The article below shares some of the ways your brand can use social listening to provide better service, outwit your competitors, and stay ahead of industry trends.
Here are a few to kick things off:
See customers hype you up
Sure, you’ll see those in notifications, but social listening software/tools give you a leg up over notifications. Synthesio, for example, notifies you when people mention your brand but don’t @mention you. Social listening tools can also reveal the clout of the person hyping you up.
Perform product research
Want to know how you can improve your existing products, or which new product lines you should prioritize launching first? Social listening provides an answer. Within one of your social media monitoring tools, create social listening feeds for the following:
Speak your customer’s language
Social listening helps you learn the voice, tone, and language of your target customer base. Let that inform the messaging on your website, social media, and marketing materials. What hashtags are your customers using? Are the long-tail keywords your customers using the same ones you’re targeting in your blog content?
Don’t forget images
Look for image analytics in your social listening software to regularly scour the web for shares of your brand assets. They’ll reveal additional opportunities from the list above, such as compliments and complaints, influencer mentions, as well as inclusions on roundup lists or product review sites.
For the full scoop, you know what to do →