Instagram has over a billion users. That’s one-seventh of humanity scrolling, liking, and sharing photos on Facebook’s ubiquitous photo-sharing social media app. That’s pretty impressive, and it’s also a massive potential market.
That’s why companies all over the world are starting to recognize not just the possibility, but the necessity of working with Instagram influencers to reach their hundreds, thousands, and millions of fans.
But working with Instagram influencers can vary wildly in cost. Things like their niche, audience size, and plenty of other factors all have impacts on what Instagram influencer pricing finally works out at.
Let’s have a look at the low-down on Instagram influencer marketing.
Followers and Engagement
Probably the biggest determining factor of Instagram influencer pricing is their follower count and audience engagement. Someone with 200 million followers who hang on their every word is going to be way more expensive than someone with a thousand followers who are only kind of paying attention.
This is why A-list celebrities’ Instagram posts can cost businesses more than a million dollars per post. But don’t despair, you don’t need Will Smith or Scarlett Johansson to market your business. What you need are top Instagram influencers in the right niche.
Finding the Right Niche With Instagram Influencer Pricing
Another key determinant of Instagram influencer marketing costs is their niche. If you run a fitness company, you’re in luck, there’s no end to the number of fitness influencers to partner with, which drives down price.
On the other hand, if your business is something obscure and esoteric, your choice of influencers who occupy the right niche is going to be a lot slimmer. That’s not too bad, though. After all, a smaller niche means a lower (but engaged) follower count, which can act to balance out the price.
As you price your Instagram influencers, niche and follower count need to be at the forefront of your mind.
What Kind of Post Do You Want?
A final essential part of Instagram influencer marketing is the kind of post you’re commissioning. If you just want an influencer to throw a shout-out and a hashtag in their photo caption, that’s really easy for them to do and won’t cost too much.
On the other hand, if you want a glossy photoshoot of your chosen Instagram star posing with your product? That’s way more effort, and they’re going to charge commensurately more.
So make sure you carefully consider the kinds of posts you’d like to commission and factor them into your budget. You won’t regret it!
Go Out and Get Influencing!
By planning ahead and knowing exactly what it is that you want, you can craft a campaign that both reaches millions and hits your goals for Instagram influencer pricing. By taking into account things like follower count, influencer niches, and post-type, you’re all but guaranteed a great campaign.
So what are you waiting for? Go make those posts!
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