From the outside looking in, the life of an influencer can seem pretty glamourous. But how much money can you actually make through Instagram and sponsored posts? Deciding to quit your full time job and take on a freelance lifestyle without the guarantee of a steady paycheck can be a scary.
There is no standard rate or pricing structure for social content, which can be both a good and a bad thing. Every influencer is different, and naturally, so are their rates of compensation. Here are some factors that affect the level of income you can make as a blogger:
Number of Followers
This one is a no brainer. Generally, the more followers you have, the more you can charge. As you increase the reach of your audience, you should also increase your rate per post. It is vital that your following be authentic for sponsored posts to actually perform, so avoid using bots or other third party services at all costs.
Level of Engagement
This is where things can get a little tricky. If you have a ton of followers but low engagement (likes, comments, link clicks, etc.) you’ll make much less money per post than someone with fewer followers but stronger engagement. Brands want potential customers interacting with the content/product being promoted, so your engagement rate is oftentimes viewed as more important than your actual follower count. #paid has a great tool that can help you determine your rate based on your engagement.
The Number of Social Channels You Are Active On (Instagram, YouTube, Facebook etc.)
More active channels means more opportunities to generate revenue. If a brand wants you to create a video on YouTube, you could also propose posting it to your Instagram and Facebook. Each one of these services is billable and can increase the overall cost of the campaign.
Type of Content (photo vs. video)
Simply put, photos are cheaper and easier to produce than video. If you are creating quality, professional video content, you can charge more than you would for a still photo. Don’t forget to consider how much time it takes to edit your content when you come up with your rates.
The size of the brand can also affect the way you price a post. Typically, the bigger the brand, the bigger the budget. Definitely something to remember when submitting a proposal to a smaller start-up versus a big brand. Never undervalue your work, but be flexible with brands that are just starting out if you believe in them.
For most, in order to produce high quality, branded content, you’ll need to hire someone to shoot it for you. When you are writing your proposals, pitch the brand a multiple post campaign. It doesn’t require you (as an influencer) anything more to shoot a second photo and that extra revenue can cover the cost of the photographer. Another great tip to maximize your time and money? Shoot multiple brands in the same photo shoot. Make sure to mix up your outfit and location!
Laura Davidson is a fitness and lifestyle blogger of My Sweat Story.