The power of influencer marketing is very apparent in today’s digital world, and it doesn’t seem to stopping anytime soon. And although many companies understand its importance, identifying the right amount of influencer marketing spend is still a bit of a mystery. To be honest, there is no exact answer for how much to pay social media influencers, but here are some guidelines to consider.
Before you determine how much to pay social media influencers, you need to consider the following factors:
Although there isn’t an exact answer for the right amount of influencer marketing spend, there are the following guidelines you can refer to:
Keep in mind that this is just a reference. Not all social media influencers abide by these guidelines.
In addition, I encourage you to negotiate pricing with any potential influencer. I have found that most social media influencers are willing to compromise on their prices.
If you're looking to set guidelines for your social media ad budget as a whole, I recommend downloading our free calculator tool: