Influencer Marketing Pricing: What’s It Cost in 2024?

What is influencer marketing?

Influencer marketing is a form of social media marketing where brands collaborate with an influencer to promote the brand’s offerings and generate buzz around the company.

Influencer marketing is an increasingly popular marketing tactic for businesses looking to engage in effective word-of-mouth promotion. An influencer’s following is largely built on trust, so when those followers see the influencer promoting a specific brand, their recommendation acts as social proof to your business’s potential customers.

Types of influencers

Today, there are four main types of influencers:

• Nano influencers: Influencers with fewer than 10,000 followers, all of whom are highly engaged and fall within a specific niche or market. Nano influencers typically foster stronger, closer relationships to their audiences.
• Micro influencers: Influencers with 10,000-100,000 followers. Though micro influencers have a larger following than nano influencers, their audience is still highly engaged and spans across a specific market(s) or niche(s).
• Macro influencers: Influencers with 100,000-1 million followers. Macro influencers are often people who have made careers out of their social media presence. In other words, they’re “Internet famous,” and have a much larger reach than nano and micro influencers.
• Mega influencers: Influencers with over 1 million followers, typically celebrities with expansive followings that reach various niches and demographics. Mega influencers’ followers are often less connected with their chosen influencer as opposed to nano and micro influencers due to the audience’s large size.

Influencer marketing pricing [summary]

What factors affect influencer marketing pricing?

There are a variety of factors that can influence the cost of influencer marketing in 2024, including:

Influencer Marketing Pricing Factors

• Pricing model
• Platform
• Content type
• Product or service being promoted
• Influencer type
• Point of contact
• Campaign lifespan
• Exclusivity

Pricing model

One of the most impactful factors that can affect the cost of influencer marketing is the pricing model. The most common pricing models for influencers are as follows:

• Pay-per-post: A go-to pricing model, pay-per-post scales off the number of posts requested. No matter the content type, from text to video, your business pays a flat rate. In some instances, influencers may set specific amounts, based on the post type.
• Pay-per-click: A performance-driven pricing model, pay-per-click depends on the number of clicks driven by a post. That means that users follow an influencer’s calls-to-action (CTAs) to visit your website, for example. While businesses like this pricing model, it’s uncommon for influencers to offer it.
• Pay-per-acquisition: A more aggressive results-driven pricing model, pay-per-acquisition scales off a post’s conversion rate. A conversion can range from someone purchasing your product to joining your email list. As influencers tend to help with brand awareness, it’s rare to see this pricing model.
• Pay-per-subscribers: Another common pricing model, pay-per-subscribers relies on an influencer’s subscriber or follower number. While a convenient pricing model, pay-per-subscribers is a vanity metric. In most cases, only some of an influencer’s followers see and interact with their content.
• Pay-per-view: A results-driven pricing model, page-per-view scales off the average number of views earned by an influencer’s content. This pricing model is more accurate than pay-per-subscribers, which is why it’s becoming popular among companies and even influencers.

Platform

Your preferred social platform where you be doing your influencer marketing can also affect the total cost of your efforts. An influencer marketing campaign on YouTube, for instance, can cost more than an influencer marketing campaign on Twitter. In some cases, however, these price differences are minimal.

No matter which platform you choose to target, it’s critical to select one(s) your audience is active on. Research your target audience before choosing an influencer so you can better understand who they are, what kinds of content they respond to, and most importantly, what platforms maximize your chances of reaching them through influencer marketing efforts.

Content type

When hiring an influencer, the type of content you produce with them can also affect the cost of your influencer marketing efforts.

For instance, if you’re partnering with an influencer on Instagram and want them to create a video post for their Story, they may charge a higher rate, especially if they follow the pay-per-post pricing model. In comparison, they may offer a lower price for uploading a photo to their Story.

In other words, content that requires more work will cost more.

Product or service being promoted

The price and target audience of your product or service can also impact your influencer marketing pricing. For example, if your company sells luxury watches with an average price of $1000, you’ll need to partner with an influencer that aligns with your high-earning target audience.

That’s why influencers that can reach high-earning audiences tend to charge more for their services. It’s also why companies with higher-priced products or services tend to pay more for influencer marketing.

Influencer type

Products and services aside, who you partner with will affect the price of your influencer marketing campaign. Influencers with a greater reach typically charge more for influencer marketing services, so you can expect to pay a bit more if you’re eyeing someone on the mega influencer side. And, of course, no two influencers are the same, even if they’re both micro influencers.

Point of contact

While many influencers have careers outside social media, others have made influencer marketing their full-time job. As a result, many partner with talent agencies to help manage their gigs. In cases like these, it means your point-of-contact for pricing may not be the influencer, but their agent.

Often, influencers with agents tend to cost more than influencers without them.

This price increase can result from a few factors. In most cases, these influencers often have a large following and higher engagement rate among their audiences. Influencers also must pay their agent commission, so their rates increase to cover that additional cost.

Campaign lifespan

For many businesses, influencer marketing encompasses more than a single post. With a series of posts, or a campaign, you you have a better chance of reaching your target audience and can make more of a lasting impact.

If you’re developing a campaign, you can expect higher influencer marketing costs. A campaign that stretches a longer lifespan, say, a two-week period with roughly five posts dedicated to your brand, will cost more money than a quick one-off partnership that lasts all of one video post. While some influencers may charge a flat-rate for campaigns, others may continue to charge per post.

Exclusivity

Finally, depending on your business, industry, competitors, etc., you may want an influencer to promote your content exclusively. While an exclusive agreement offers value, it also comes with a higher cost. By partnering with only your company, that influencer is turning down other partnerships for the time being (i.e., other additional sources of revenue).

Exclusivity, however, is not a long-term agreement.

In most cases, the contract between your business and the influencer specifies when an influencer can begin promoting other brands again. That’s why your team needs to consider if exclusivity is worth the additional cost — and if it is, how long should it last.

Average influencer marketing cost (by platform)

In today’s market, influencers range from well-known celebrities to everyday users. That’s why prices for influencer marketing range from $100 to $1 million per post. It’s also why companies often ask what a fair price for hiring an influencer is.

Facebook ($25 / 1000 followers)

With more than 1 billion daily active users, Facebook provides influencers and companies unprecedented access to consumers. That’s why influencers on the platform charge an average of $25 per post, per 1000 followers.

For perspective, here are some potential influencer marketing prices on Facebook:

1. An influencer with 10,000 followers could charge $250 per post
2. An influencer with 100,000 followers could charge $2500 per post
3. An influencer with 1,000,000 followers could charge $25,000 per post

In some cases, an influencer may exceed that average rate. For example, if you want an influencer to create a post with video content, they may charge an additional fee for creating the video. Or, if you invite an influencer to visit your location, they may ask you to cover their travel costs.

For a streamlined influencer marketing experience, Facebook offers Brand Collabs Manager.

On this platform, your business can find and connect with relevant influencers quickly. You can also discuss your desired price and deliverables before you sign an agreement. This feature ensures your company receives the services you want, as well as understands what an influencer can do for you.

Brand Collabs Manager only includes influencers with more than 1000 followers. With that range, your business can connect with micro- and macro-influencers. You can compare their costs, too, which can help your team make a decision.

The platform is free to use.

Instagram ($10 / 1000 followers)

With more than 1 billion users — 80 percent of which follow a business — Instagram is a go-to influencer hub. It’s also a cost-effective channel when it comes to influencer marketing, maintaining an average price of $10 a post, per 1000 followers.

For a bit of perspective, here are some potential prices for an influencer with more than 1000 followers:

1. An influencer with 10,000 followers could charge $100 per post
2. An influencer with 100,000 followers could charge $1000 per post
3. An influencer with 1,000,000 followers could charge $10,000 per post

In some instances, this price point can vary.

Celebrities, for example, can often increase their prices because of their reputation outside of Instagram. Some, however, accept lower price points than this average. Professional soccer player Cristiano Ronaldo, for example, has more than 140 million followers and earns $750,000 per post.

Based on the above average, however, he should earn more than $1 million per post.

While a celebrity partnership can gain your brand a lot of exposure, it’s often more beneficial to partner with an influencer in a niche part of your market. These are influencers that can speak directly to your audience, plus they tend to adhere more to the $10 a post, per 1000 followers price point.

For example, if you’re a manufacturer of running sneakers, you have a ton of niche markets, including:

1. Marathon runners
2. Casual joggers
3. Trail runners

As a part of your digital marketing strategy, you can approach influencers in each of these markets. With this approach, your team can connect with every segment of your audience. In comparison, if you partnered with a well-known Olympic runner, you would reach a broad audience that may not even have an interest in running.

If your company prefers a more performance-driven approach, you can also partner with followers that base their prices on engagement, versus follower counts. This strategy is smart because you’re paying for the results of that post, from a like to a comment to a share — which can support additional actions, like a purchase.

Influencers that follow this pricing model charge $250 to $750 per 1000 engagement, on average. That means, on average, 1000 users engage with that person’s posts. On Instagram, engagement can range from liking to commenting.

If you want to experiment with influencer marketing prices for Instagram, try this cost calculator.

X (Twitter) ($2 / 1000 followers)

With 330 million users, Twitter features a smaller audience than Facebook and Instagram. Companies, however, still use the platform to reach their target audience, and they don’t pay much to do it. At $2 per post, per 1000 followers, Twitter offers the lowest influencer marketing prices.

For perspective, here are some potential influencer marketing prices for Twitter:

1. An influencer with 10,000 followers could charge $20 per post
2. An influencer with 100,000 followers could charge $200 per post
3. An influencer with 1,000,000 followers could charge $2000 per post

In most cases, an influencer with more than one million followers will break away from this price average. If they have that many followers, they’re probably well-known outside of social media. That allows them to reach more people, which can provide your company with additional exposure.

Remember, however, that you want exposure in order to build brand awareness with your target audience.

Influencers with a mass following often have followers with a wide range of interests as well as reasons for following that person. That can result in a partnership that doesn’t deliver any long-term value to your company. It’s a case where you’re targeting too many people, versus focusing on a specific segment of your audience.

YouTube ($20 / 1000 subscribers)

With more than 1 billion users, YouTube offers businesses access to a whole new set of influencers. On average, influencers on YouTube charge $20 a video, per 1000 subscribers. YouTubers with audiences of more than one million subscribers tend to veer away from this price point.

For perspective, here are some potential prices for influencer marketing on YouTube:

1. A YouTuber with 10,000 subscribers could charge $200 per video
2. A YouTuber with 100,000 subscribers could charge $2000 per video
3. A YouTuber with 1,000,000 subscribers could charge $20,000 per video

Keep in mind, however, that after an influencer reaches more than one million subscribers, they have more freedom over their rates. According to analysts, YouTubers with that big of a reach can charge up to $50,000 per video.

Like Facebook, YouTube offers a platform for connecting with influencers, but it comes with a price.

The platform YouTube BrandConnect (previously FameBit) matches influencers and companies. It uses several factors, like your budget, target audience, and goals, to connect you with an influencer. While it doesn’t cost anything to join BrandConnect and find an influencer, the minimum project cost is $100.

BrandConnect also charges a 10 percent service fee once you’ve matched and approved an influencer’s content.

If you prefer a performance-driven approach, you can also base your influencer marketing prices on video views. Influencers charge around $50 to $100 per 1000 views. This price range often depends on the influencer’s number of subscribers, as well as their most recent stats when it comes to video views.

For example, if an influencer’s newest videos earn around 10,000 views, versus 5000 views like their earlier videos, you can expect to pay more. In the opposite scenario, the influencer would charge less for their services due to their decreased reach.

A YouTuber with fewer video views can still make an impact, though. If the influencer is connected with your target audience, or even a difficult-to-reach niche of your market, they can help achieve your marketing goals. Those goals can include everything from visiting your website, subscribing to your YouTube channel, or purchasing your product.

Snapchat ($10 / 1000 followers)

With an average of 188 million daily users, Snapchat provides companies access to a range of influencers. On average, influencers on Snapchat charge $10 per post, per 1000 followers. Influencers with more than one million followers can abandon that price point easily.

For perspective, here are some potential costs for an influencer with more than 1000 followers on Snapchat:

1. An influencer with 10,000 followers could charge $100 per post
2. An influencer with 100,000 followers could charge $1000 per post
3. An influencer with 1,000,000 followers could charge $10,000 per post

If you’re familiar with Snapchat, you may have spotted a problem with this pricing model.

On Snapchat, you can’t see how many followers someone has because it’s private. You can, however, see a user’s Snapchat Story view count. While some companies use that view number to estimate an influencer’s follower count, others use it for a different pricing model.

Instead of paying $10 per post, per 1000 followers, businesses pay $10 per post, per 1000 views.

Like YouTube, Snapchat also offers a matchmaking program for companies and influencers.

With Snapchat Storytellers, influencers provide your business with their services, as well as recommendations for improving your presence on Snapchat. This program, however, is limited to a select number of influencers and brands. The advantage is that Snapchat Storytellers doesn’t charge a finder’s fee, unlike BrandConnect.

6. TikTok ($5 / 1000 followers)

Clocking in at one billion active monthly users, TikTok holds massive potential for companies looking to invest in influencer marketing. On average, TikTok influencers charge $5 per post, per 1000 followers. However, the price point can fluctuate for celebrity influencers with more than one million followers.

For perspective, here are some potential prices for influencer marketing on TikTok:

1. A TikToker with 10,000 followers could charge $50 per video
2. A TikToker with 100,000 followers could charge $500 per video
3. A TikToker with 1,000,000 followers could charge $5000 per video

Because TikTok is an app that prides itself on authenticity, many of the best TikTok ads feature influencer-brand partnerships. These partnerships helps brands reach a wider audience and are more likely to capture users’ attention as they quickly scroll through their For You Page.

When considering the best influencers to partner with on TikTok, consider finding niche creators.

The For You Page is known for being highly targeted, with users jokingly saying that TikTok knows them better than they know themselves. Partnering with highly niched influencers can help you take advantage of this robust targeting.

Blogs ($60 / 1000 visitors)

While influencers are well-known for their social media presence, many also maintain personal blogs. Using their blog, influencers can reach, connect, and chat with your target audience in new ways. Influencers charge around $60 per post, per 1000 unique visitors for this service.

A few factors can shift this price point, including:

• Industry: If you’re in a technical industry, it’s essential to partner with an influencer that understands your market and target audience. Due to their expertise, however, they can often charge more than $60 per post.
• Topic: Your proposed blog topic can also increase your influencer marketing prices. For example, if you’re a luxury resort and want the influencer to write a post about their experience, you need to cover their costs of traveling and staying at your location.
• Length: For the best experience, your company should specify the desired word count for an influencer’s blog post. That way, you aren’t disappointed when your influencer forwards their draft. Depending on the preferred length, influencers may increase their rates.

While more expensive than other platforms, blogs can deliver the best results. In a recent study, analysis discovered that blogs were 37% more effective for influencer marketing than other social media platforms, like Facebook and YouTube.

How much do influencer marketing agencies cost?

On average, influencer marketing agency prices can range anywhere from $1000 to $18,000 per month.

While every agency varies, this fee tends to include the following services:

• Creating an influencer marketing strategy
• Researching and compiling a list of potential influencers
• Hiring and contracting approved influencers
• Developing creative content with influencers
• Tracking influencer marketing campaign performance

In some cases, an agency may base their price on the number of posts you want, the type of content you’re producing, and more.

Influencer marketing agency pricing factors

Much like working with an influencer directly, the cost of working with an influencer marketing agency can depend on a few different factors:

Influencer Marketing Pricing Factors

1. Posts
2. Followers
3. Views
4. Experience
5. Resources

1. Posts

In almost all cases, an agency scales its influencer marketing pricing by the number of posts requested. If you want five posts from an influencer, versus one post, you can expect a higher cost. That’s because influencers often charge on a per-post basis.

2. Followers

Depending on your influencer marketing company, their pricing may also rely on an influencer’s followers. If you want an influencer with 50,000 followers, versus 5000 followers, it will cost more. That’s because an influencer with more followers tends to earn more views. This isn’t always the case, though.

3. Views

Agencies can also use an influencer’s average number of views as a pricing factor. If you work with an influencer that earns an average of 30,000 views, versus 3000 views, you would have a higher cost. This pricing model tends to make more sense because it’s performance-driven, focusing on how your post will perform.

4. Experience

Your influencer marketing company’s background can also impact your influencer marketing pricing. Agencies with fewer years of experience tend to charge less than ones with decades of it. An agency’s expertise, however, can have a sizeable impact on your campaign’s performance and return on investment (ROI).

5. Resources

The resources available to your influencer marketing agency can affect pricing too. Resources can range from marketing tech, like our artificial intelligence and machine learning software, MarketingCloudFX, to industry veterans. While these features can increase your prices, they can also improve your campaign’s performance.

Whenever you research digital marketing prices, whether for influencer or social media marketing, remember that you get what you pay for with these services. If you go for “cheap” influencer marketing services, don’t expect any worthwhile results.

Due to the prevalence of agencies that promote “low-cost” or “cheap” influencer marketing prices, it’s critical to educate your team and company decision-makers about their non-existent value. For a business to get results from influencer marketing, they need to invest in an established and trusted agency.

How to choose an influencer marketing agency

Thinking of partnering with an influencer marketing agency? Great choice! Now comes the fun part — choosing the right agency for your business. When browsing the numerous agency options, there are a few things you should consider to help you narrow your list of potential partners:

Remember to Consider:

• Transparent pricing
• Portfolio
• Customer satisfaction
• Social media presence

Transparent pricing

With all this talk about influencer marketing pricing, it would be wrong if we didn’t mention price as a key factor to consider when choosing an agency for your business.

Your budget is important, and it’s crucial that you find an influencer marketing agency who’s cost doesn’t make you (and your wallet) sweat. But, remember that some agencies are priced higher for a reason, whether it’s extensive experience, expertise, a larger team, in-house technology on hand, etc.

Before you blow off any agencies that may be just outside of your budget, make sure you’re evaluating the services agencies offer in comparison to price. Are you getting what you’re paying for, or does it seem like you’re paying for a whole lot of nothing? Look at agencies with transparent pricing so you can see exactly what you’re getting when you partner with them.

Portfolio

Agencies can talk the talk, but can they walk the walk too? Another factor to consider when choosing an influencer marketing agency is the company’s experience. Do they have a portfolio? What about case studies? A great influencer marketing agency can drive results that matter, and they should have proof of doing so.

You can get a better sense of what an agency’s capabilities are when you look at the their past work, like how they run campaigns, how they measure success, and how they create plans for their clients. Most importantly, case studies and portfolios can help you determine if an agency truly knows how to run an influencer marketing campaign.

Customer satisfaction

The experiences of past clients can speak volumes about an influencer marketing agency (and any digital marketing agency, for that matter). When browsing agency options, be sure to look for any testimonials, reviews, and ratings from past clients that can help you gain some valuable insight into the company you’re considering. Look for reviews in places such as:

• Clutch
• Social media
• Agency websites
• Search engines

Social media presence

Finally, it doesn’t hurt to do a little old-fashioned snooping. Influencer campaigns are rooted in social media marketing, so do a little digging and see what presence each agency has across social media. How do they run their own social campaigns? Not only does this give you a better sense of who you could be working with, but it gives you better insight into the agency itself.