The use of social networks is on the rise to this day due to the development of new platforms, such as TikTok, or consumer trends, such as X (ex Twitter). This increase encourages influencers to increase their budget to collaborate with brands, as their audience is getting bigger and bigger.
In the following article we will mention the multiple aspects related to the budget it takes for a brand to hire influencers to spread messages on social networks.
Collaboration with influencers
Developing an effective influencer marketing strategy is a dynamic process that requires continuous learning, particularly when allocating budgets to collaborate with influencers. Each influencer sets their rates for content creation, but it is crucial to consider the different adaptations that messaging may need to align with business objectives. This encompasses a variety of formats and approaches, such as paid posts, organic content, daily stories, videos, reels, image rights and more.
| Type of influencer | Number of followers | Price range |
|---|---|---|
| Micro influencer | 10.000 – 100.000 | 200 € – 1500 € |
| Medium size | 100.000 – 300.000 | 1500 € – 3000 € |
| Macro influencer | 300,000 – 1 Million | 3000 € – 7000 € |
| Mega influencer / Celebrities | +1 million | +7000 € |
It is important to understand that this is only an indicative table of possible prices charged by influencers for collaborations with brands, if you want to know how much an influencer marketing strategy can cost for your brand you can contact us and tell us about the campaign, your goals, budget and interests so we can offer you the ideal options for your business.
Factors influencing the budget
The budget varies depending on the different aspects mentioned below:
Number of followers
It is the factor that most influences the price of the collaboration, as this will determine whether your brand will be promoting a strategy with nano, micro, macro or mega influencers. This is why depending on the type of influencer you want to choose (or can) will depend on the price, since as the number of followers increases the rates are higher.
Daily influencer engagement rate
The engagement or interaction rate is the indicator that allows the brand to understand if the influencer you are about to choose generates engagement and interaction from your audience, since you will want your messages to have a high interaction rate, both for the influencer and for your brand (sales, website visits, etc.).
Type of content to be disseminated
Another factor that influences the price of the collaboration is the publication format to be used, whether it is just one or more than one. Formats can be stories, videos, reels or publications.
For example, the stories have a duration of only 24 hours, while the publications and reels remain visible on the influencer’s profile, so the price will be different depending on the format chosen.
Campaign duration
In turn, the amount of time that an influencer has to collaborate with your brand will make the price of the contract vary, since it is not the same a punctual and unique participation or a long term participation.
For example, a one-time campaign in which the influencer participates in a specific event usually has a lower cost than a campaign of longer duration, such as a Hot Sale-type digital event that lasts for several days. In addition, it is important to consider that long-term collaborations not only bring greater credibility and strengthen the relationship between the brand and the influencer, but can also result in better rates compared to hiring isolated actions.
Exclusivity
There are brands that have the conception that influencers who participate with them must have an exclusivity contract so that they do not have parallel collaborations with competing brands. That is why, if the brand wants the influencer to work exclusively for that brand, a higher price.
Platform to be used
Last but not least, the platform used will significantly influence the cost. Influencers can use Instagram, Facebook, Twitter, TikTok or YouTube, and each platform requires different types of content. For example, on YouTube, content tends to be more elaborate and longer in length, while shorter, more dynamic videos are preferred on TikTok. This variation in content type directly impacts campaign pricing and strategy.
However, you must understand that in a strategy with influencers you should not use all platforms, but the ones that your brand wants and understands that your audience is on. The important thing is to choose the right platform for each campaign and adapt the content and budget to it.
Unlock the Power of Influencer Marketing with Flow Flamingo
Collaborating with influencers can make all the difference in your marketing campaigns. At FlowFlamingo we understand the importance of choosing the right influencer for your brand. We specialize in making meaningful connections that not only increase your product’s visibility, but also generate authentic engagement with your audience.
Our expert digital marketing team handles the entire process, from identifying influencers that align perfectly with your brand’s values and vision, to negotiating and establishing contracts that ensure a smooth collaboration.
