Do you ever wonder, how much you can make as an influencer on Instagram? Are you on the fence of diving into the influencer world, just curious or very new to the influencer scene. I have consolidated a few resources that will help determine what your rate is. Use the principles in this blog to determine what your rate could grow to be.
A basic rule of thumb is one cent per follower. This is the very base pay for a sponsored post but it definitely should really be a base. For example, if you have 1,000 followers, you should be starting at $10 per post, 5,000 followers equates to $50 per post, 10,000 followers equates to $100 per post and 100,000 followers equates to $1,000 per post. Yes, you can really get paid upwards $1,000 for one single photo. Although that seems like it is a lot there is a lot of behind the scenes to create one single photo, writing the caption alone can take up to 2 hours. Consider the cost for photographers, props, time to take the photo, editing, and any other post production activities.
The next valuable guideline is your engagement rate. If this is the first time you have heard that term, your engagement rate is basically the amount of comments and likes that you get on your post based on a ratio between your following. Suprinsgly there are two ways to calculate this engagement rate:
Option 1 Engagement/Followers: Likes + Comments / Followers * 100
This option puts a higher emphasis on your follower count and this is the standard way to calculate your engagement rate.
Option 2 Engagement/Impressions: Likes + Comments / Impressions *100
So in both scenarios you would take the average likes and comments and divide that over the impressions or followers and multiply by 100.
Lets say your posts were typically receiving 200 likes, 10 comments and you have 2,000 followers, your engagement rate would equate to: 200 + 10 = 210 / 2,000 = .105 * 100 = 10.5 % is your engagement percentage based on your follower count.
Why is this important? The higher your engagement rate, the more likely a brand will want to work with you and the higher your rate may be. You are essentially able to reach a larger audience and be able to actual make an impact on your followers.
Tip: Never engage in pods, use bots or apps to get more likes or comments. This is very wrong to do morally but also ruins your engagement rate in the long term. This is also very obvious to companies and you may be put on a “Do Not Work With” list if you engage in dishonest activity.
Use this calculator quickly calculate what your rate should be. This calculator takes into account your engagement rate and also your base cost of a post and provides you a range to calculate your own rate.
Please visit my recent blog post 5 Ways Strategic Way to Make Money as an influencer.