Influencer Pricing Guide: How Much To Charge For Brand Partnerships
Know your worth.
“How much do I charge?” is arguably the most asked question in influencer marketing, and for good reason—the world of influencer content is still relatively new. But if you have set rates and a plan in place, you’ll eliminate a lot of the stress of partnerships and brand outreach.
When it comes to pricing for brand collaborations, there’s no perfect equation. As much as we wish there was a go-to price that works for content across the board, there just isn’t. That said, there are a few best practices you can follow to eliminate the confusion quite a bit.
The Industry Standard Equation:
For social posts: $0.01 x number of followers*
*if “like” engagement is over 2.5%, charge $0.02 or more per follower.
For blog posts: $0.10 x monthly site sessions
Before giving a final fee, run through the requirements for the partnership. Consider an add-on fee if...
You have to include more than 10 images in your blog post
You're giving the brand image rights
You're posting an Instagram Story that drives to your blog post
You’re required to share your blog post on Facebook, Twitter, or Pinterest
You have a manager with an overhead fee
You're working with a brand that requires certain verbiage
You have to travel
You have to buy props
You have to outsource any work (e.g., a photographer or makeup artist)
The project requires a lot of pre- or post-production
The brand requests more than one round of approval, extra images, additional links, or an unusual timeline
Consider the value of each of those asks. When finalizing pricing, think about how much time each task will cost you. Don’t be afraid to charge more if you see yourself putting a lot of extra time into the project!
When should I start charging?
The short answer? Now! If you’re able to offer a brand value, then you deserve to be paid. And the numbers above aren’t hard and fast rules: If you only have 5k followers but your work fits into a certain special niche, you don’t have to stick to the industry standard. If you believe your work is valued at a higher cost, charge what it’s worth.
Too many people think you have to wait until 30k or 50k followers to start charging for partnerships, but when you offer value to a brand, you should be getting paid. Think of it this way: Professional photographers charge thousands of dollars for social imagery, and many of them only have a few thousand followers on Instagram.
How do I have “the money talk?”
Talking about fees is uncomfortable—we get it. But if you have a strong media kit that shows analytics from your social platforms and website, it’ll do the talking for you. Data is the best way to prove a point.
If you’re partnering with a brand you really love and want to build a relationship with, consider being flexible the first time you work with them. Name your price, but don’t be afraid to offer a slightly discounted rate for more posts if you want to build a rapport and make it an ongoing partnership.
Do I need a manager?
Is it time to hire representation? That depends on several factors. Answer the following questions if you’re considering hiring out:
Do you spend the majority of your day answering emails?
Have you hit a wall when it comes to partnerships and outreach?
Do you feel like you just don’t have the right connections?
Do you hate handling contracts?
Do you feel like you know your branding well enough to relay that information to a manager to pitch to brands?
Do you have the financial stability to give up a portion of your commission to a manager?
If the answer to most of these questions is yes, then a manager might be worth considering. They’ll find potential collaborations, handle client back-and-forth, and have those difficult money conversations for you. But that doesn’t mean you’re entirely off the hook: Successful brand partnerships start with showing the value you can bring to a brand, so you still have to come to the table with strong branding, high audience engagement, or unique blog content as selling points.
How do I sell myself?
Consider your brand guidelines, website design, SEO, email and overall content planning. If you're constantly winging it, it’s going to be difficult to set goals for content and partnerships. At Flocke hq, we work on influencer growth through brand and marketing strategy. The best way to feel confident in your content is to have data that shows growth and a larger strategy that outlines your long term goals.
At the end of the day, your personal brand is yours. You call the shots and get to pick how you handle brand partnerships. Remember: Your pricing comes down to the worth of your work and the time you're putting into everything you do. Ultimately, you're the voice of your brand, and no industry standard is perfectly crafted to you.
As you take on this year, we recommend that you create a 30-, 60-, and 90-day content plan and a growth strategy that ensures brand partnerships are always within reach. If you need a little guidance or want to learn more about what performs best, head over to Flocke hq and find out what we can do for your brand!
Tyler Grove and Rachel Broas are co-founders of Flocke hq, a digital marketing consultancy geared solely to help influencers build and scale their personal brands. As influencers themselves (@rachellaurenlucy and @tytygrove), they know the hard work that goes into creating a successful empire off of your own personal brand.
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What One Founder Calls the Most Essential Skill to Starting
From the pop-friendly Studio DIY products to Baby Boy Bakery journals to Color Theory Premium Inks by Studio Calico (above), April Foster, CEO and founder of Inked Brands has launched some of the most beloved influencer products. A leader in influencer commerce, you come to Inked with a vision and they do the rest. But do they rest? That's a whole different question.
Which is why we caught up with the entrepreneur and mom of FOUR (!) to find out her thoughts on influencers, hard no's, and where she finds the time.
You’ve said that you’re an entrepreneur at heart. For young women wondering whether or not they should launch a co, what does that mean to you?
If you’re a creator and are constantly curious, inventing new things or if you see better ways of doing things, or a hole in the market that you know how to address; I think it’s just in your blood.
What do you consider the most essential skill when starting?
Paying attention. It’s about learning when the details matter and when they don’t and are just paralyzing you. It’s about paying attention to the numbers, to customer feedback, to your team and fixing what you can and letting go of what you can’t. Being disciplined in this practice and objective is extremely important, too. I can remember times as I was packing boxes I realized weights on them were wrong and I’d have to call back and unpack then repack half our orders for the day. That wasn’t pleasant, but it saved us money and helped us get to the next month. When I haven’t paid attention to the details that matter, mistakes are made, sometimes ones that are incredibly costly.
How do you know when it’s time to hire?
For me, I had to hire right away because I was keeping my day job so the profits could fund the growth of the business. Also, I was hiring for the positions that were most well-defined and easiest to monitor (customer service & fulfillment). This didn’t mean I wasn’t involved. In the early days, I answered customer service daily alongside my employees and packed boxes with them, too. I have strong opinions regarding understanding your business and customers, and the primary way to do that is to get in and get your hands dirty. Many founders of VC-backed companies are robbing their founders of this valuable experience. But, when the duties are compromising your ability to perform tasks that ONLY you can do, that’s when it’s time to hire.
Micro-influencers have played a large part of your strategy in growing your biz. For a long time they were overlooked by bigger brands. What do you think people aren’t paying attention to now that they should be?
There is so much media and investor attention towards fast growth, but it’s the slow and steady brand builders that will win the race. Influencers who become insta-famous, can just as instantly become irrelevant. I’m interested in the people and brands who want to run a marathon, not a sprint; those who want to get it right instead of just getting a quick paycheck.
"Influencers who become insta-famous, can just as instantly become irrelevant."
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What does Inked offer influencers that other companies don’t?
We combine products and content in a way that is meaningful and relevant to the influencer or thought leader and their followers. That’s our main differentiator. We work as a partner to develop, source, and design these products, then display and sell them in a unique and meaningful way whether that’s subscription, traditional ecommerce, or premium content such as online courses.
What do you as CEO offer influencers that other companies don’t?
The main reason I started this model three years ago was because I could see influencers’ desire to have long lasting revenue streams and not be overloaded with sponsorships that devalue and exploit their brands. I’m committed to that and our policies and practices align with that.
You’ve said not to surround yourself to “yes men,” what’s one of the hardest but most useful (in the long run) “no’s” you’ve ever heard?
I hear “no” every day and I’m probably not the only person that hates hearing it. The most useful “no” I’ve heard in my career came at a pivotal time for the business. My CFO/COO was diagnosed with terminal cancer, which was a resounding “no” that I wouldn’t be able to grow the company as I first envisioned. That “no” taught me that I’m not in control (which bugs the fire out of me!), it taught me patience and selflessness, and that my family and spiritual well-being are the most important. That “no” helped me more than any “yes” ever has.
Your pump up jam when you can’t seem to find the inspo?
Ha! I live for silence. With 4 young kids and never any alone time, if I can be by myself with zero noise, that’s the most refreshing thing ever. That’s probably not the answer you were looking for.
RIght so, uou have four kids, so we have to know… where is the time? What’s the most important mom lesson you’ve learned?
I’m forever wishing for more hours in the day! From the time I became a mom, I knew setting a routine would be so important to the well-being of our family. I thrive in a structured environment as does my husband. So, we stuck to a fairly rigid schedule that still works almost 7 years in. Our kids go to bed by 7pm and sleep 12 hours most nights (there’s an occasional potty emergency). That allows me to set a work schedule where I’m home in the evenings for mealtime and bedtime, then I have time after 7 to work on tasks that require undivided attention while it’s relatively early. As for a mom-lesson I’ve learned which is entirely the opposite of my work approach: have low expectations! With four little people each with minds of their own, I expect there to be misbehavior, I expect to wake up during the night, or to have a car that’s not pristine. I expect to not be able to eat organically or healthy all the time. By setting low expectations, I’m not disappointed nearly as often, I’m more patient and understanding, and in general, I’m a happier person and better mom.
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Still Wondering How to Partner With Major Brands?
Read this.
photo credit: The TomKat Studio
Are you wondering how to partner with today’s major brands? Want to know how to catch their eye?
Well, if you were at Create & Cultivate ATL you might remember the delicious Mediterranean-inspired dishes from lunch served up by Zoës Kitchen. Beyond filling our stomachs, they’re also filling our brains with useful info. We got the chance to pick the brains of the social media and marketing team behind the restaurant lifestyle brand.
They are sharing how they want to work with influencers and how influencers should approach them.
WHAT THEY’RE LOOKING FOR IN AN INFLUENCER
If you’re already a Zoës enthusiast, that’s great! They love seeing your passion for their brand. If you eat at the restaurant, let them know. If there is a dish you love, share it! The more often they see you interact with them online, the more confident they become in your authentic interest in the brand.
They’ll have ideas of their own, but are always interested in your take on how to deliver their message to your audience. You likely have a following that differs from theirs and you know how to best engage them. Share how you would engage your specific audience with a tailored pitch.
Getting your grid right is the first step to growing your audience. Elevated photography and feed aesthetic are key elements in selecting an influencer to represent your brand. Bonus points if you can offer photography that is so good that they would repurpose it in the future (crediting you, of course).
Don’t limit yourself to a certain category for collaboration. Brands like Zoës appreciate different types of influencers to break through the clutter. For example, if you’re a fashion blogger, sharing a food-related post will stand out from the rest of your feed and will captivate followers in a new way. Using food bloggers (or same-category influencers) has benefits of its own, but brands are always seeking refreshing and unexpected ways to be seen and share content.
"Don’t limit yourself to a certain category for collaboration."
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photo credit: The TomKat Studio
NEXT STEP: HOW TO GET THEIR ATTENTION
If you’re using a product or visiting a restaurant like Zoës, tag them in a photo or use their brand hashtag. That’s the first step to getting on a brand’s radar. The person monitoring their social media will be paying close attention to who is engaging with the brand.
If that doesn’t get a brand’s attention, the onus is on you to reach out via web or social. You can shoot them a DM or send a detailed, but succinct message of why and how you want to work with them.
Include examples of relevant brand partnerships. Numbers and analytics are a great way to show the brand the kind of impact you can make.
Remember, it’s all about the feeling. People don’t only come to Zoës Kitchen because the food tastes great. More often, the team says they hear that customers enjoy ZK because of how it makes them feel. They identify with the Mediterranean way of life – leading a balanced, active lifestyle, connecting with others, and fueling their body with food they can feel great about from the inside out. These are all points that you can work into your outreach to the brand.