How Much Should I Charge as an Influencer in 2024? 15 Crucial Factors (+ Example Calculation)
How much should I charge as an influencer? I’m sharing the essential factors in this guide to calculate your best rate!
I get this question all the time from my influencer clients: “How much should I charge as an influencer?”. As a lawyer myself who drafts contracts for influencers like you, I have seen many different rates based on very different factors, and I’m sharing exactly what you need to know to set your own best rates.
You will learn the answer to the question “How much should I charge as an influencer?” and be able to create your own influencer rate card.
After learning about the crucial factors you need to answer the question “How much should I charge as an influencer?”, you’ll be able to set the best rates and get the most out of your brand deals!
This post is all about the crucial factors you need (including an example calculation) to answer the question, “How much should I charge as an influencer?”.
How much should I charge as an influencer?
Crucial factors for creating your influencer rate card
Before you can start calculating your influencer rates, you first need to consider a list of factors that contribute to your rate. It’s not as easy as figuring out the number of followers you have and then googling what other influencers charge with the same number of followers. Then, you might be underpricing yourself!
There are a multitude of factors that contribute to your rate, and you should revisit these factors for each brand deal to figure out the answer to your question, “How much should I charge as an influencer?”
Below, I have created a complete overview of the different factors that determine your SM and YouTube influencer rates.
1. General base rates by audience size
The first step is to figure out the base rate influencer charge in general (not taking into account any other factors yet) based on their audience size.
Here are the general base rates, which will vary over time and depend on multiple factors (which we’ll get into), but this is just to give you a general idea:
Nano Influencers (with 1,000 - 10,000 followers): between $10 and $100 per post
Micro-Influencers (with 10,000 - 50,000 followers): between $100 and $500 per post
Mid-Tier Influencers (with 50,000 - 100,000 followers): between $500 and $1,000 per post
Macro Influencers (with 100,000 - 1,000,000 followers): between $1,000 and $10,000 per post
Mega Influencers (with 1,000,000+ followers): more than $10,000 per post
2. Market rates for your niche
Now you know the base rate that influencers charge in general, but a major part of figuring out where on the spectrum your base rate should be in your niche. In certain niches, such as the finance niche, the rates are generally higher. In other (more saturated) niches, the base rate might be lower.
You need to research what other influencers in your niche (with similar follower counts and engagement rates) are charging to figure out at which end of the spectrum your base rate should be.
3. Engagement rate
To answer the basic question of “How much should I charge as an influencer?” your base rate should then be adjusted based on your engagement rate.
If you have no engagement, it means your audience does not consider your content to be valuable (and you may have purchased your followers).
More interaction with your content means more value (to both your audience and the brand), and this has a huge impact on the rates you can charge. If you have fewer followers but a higher engagement rate than other influencers (in your niche) with the same number of followers, you can charge a higher rate.
Let’s say, for example, your engagement rate on Instagram is 5%. In that case, you might want to increase your rate by 20%.
4. CPE (Cost Per Engagement)
That brings me to the CPE or Cost per Engagement. The CPE is how much each like, comment, or share costs.
Use your CPE to adjust your rate. If you have 1,000 likes/comments per post and charge $0.50 per engagement, your rate would be $500.
It can also be a useful metric to show on your influencer rate card if you have high engagement rates (to justify a higher rate).
5. Average views & impressions per post (CPM)
Even if you do not have a big audience, if your average views and impressions per post are high, that can increase your rate as it shows the reach and effectiveness of your content.
Based on your average number of views/impressions per post, you can calculate your CPM, or Cost Per Mille, which means the cost per thousand impressions and an important metric brands and influencers use.
You can then adjust your rate based on your CPM, for which you can use the following example:
Example: Your posts average 100,000 impressions. With a CPM of $20, your base rate could be:
Base Rate = (100,000/1000) × 20 = $2,000
6. Conversion rate or ROI
Once you have built up a track record of a few brand sponsorships, you can start adjusting your rate based on your conversion rate. Your conversion rate is the percentage of your audience that converts into paying customers for the brand. This is also considered the ROI, or Return on Investment.
The higher your conversion rate or ROI, the higher the influencer rate you can charge a brand.
For example, let’s say 5% of your audience converts into paying customers, and you can demonstrate this ROI to brands; you might justify a higher rate of, say, 20% more.
7. Audience demographics
Your base rate should then be adjusted based on the demographics of your audience.
Just like with your niche, certain brands targeting specific demographics will pay more if your audience matches their target audience.
For example, if your audience consists of mostly young professionals, brands that target this specific demographic might pay you more.
8. Type of platforms
Different rates are paid for different platforms due to differences in engagement, follower loyalty, and reach.
For example, a higher rate will be paid for an Instagram post versus a tweet.
9. Content type
The type of content also matters. A video requires more time and resources than photos.
You must also consider the type of content on the different platforms. In the case of Instagram, a different rate will be charged for a Story with a short lifespan than for a Reel that is posted on your feed.
10. Number of content pieces
When a brand wants you to publish multiple pieces of content, they’ll expect a discounted rate. More posts translate into more income but also more work, so you’ll want to find a sweet spot. For example, you could offer 5 Instagram posts over 2 months at a 10-20% discount.
And, when you offer a bulk discount on your influencer rate card for multiple posts, it might be attractive enough for a brand to want to do multiple posts instead of just one.
11. Rush fee
Some brands will ask you to create sponsored posts in a short amount of time, either because of a campaign they’re running, a limited-time offer, or they’re just needy.
In any case, you should charge a rush fee for a quick turnaround, as you’re putting in extra effort and rearranging your schedule for this brand.
If a brand needs a quick turnaround, include a rush fee to account for the extra effort and potential disruption to your schedule.
For example, you could state that you will charge an additional 20% for content to be posted with x number of hours/days.
12. Revisions
A lot of times, the revision rounds are not mentioned, but this is a crucial part. Revisions can become very long processes, which will not be worth the money if you don’t set any boundaries around them.
That’s also why I have crystal-clear terms on revisions in my brand sponsorship agreement templates.
And you want to clearly state the following in your influencer rate card:
Whether revisions rounds are included in your base rate
If so, the number of revision rounds included
A separate price for (additional) revisions
13. Geographical location
With the globalisation of work and information, your and the brand’s geographical location has become less important, but it remains a factor in how much you can charge.
If you live in New York City, your cost of living and the market conditions could justify a higher rate than that of someone living in Málaga, Spain. And, let’s say you’re a travel influencer. You might charge a hotel in New York a different rate than a local boutique hotel in the countryside in Scotland with room rates that are half the price.
14. Market conditions
Something you must also consider in the long term is the overall economic climate, which always affects the advertising budgets of brands.
When the economy is doing great, the advertising budgets of brands will also be greater, and you’ll be able to charge more. It also means that when the economy is bad, the advertising budgets of brands will get slashed first, which might mean you need to adjust your rates.
15. Long-Term Partnerships
There’s one last factor that you should take into consideration when answering the question, “How much should I charge as an influencer?”
You need to take into account the terms of your partnerships. If a brand sponsors you regularly, you should, even when your base rate goes up, offer the brand a discount on your base rate.
Even if it’s just a small discount of, say, 10%, it shows your appreciation for the brand, and the brand will want to keep coming back.
This small discount ultimately will earn you a higher and more stable income in the long term.
Example: Instagram influencer pricing calculator
Now, you know all the factors that you must take into account in answering your question of “How much should I charge as an influencer?”.
So, it’s time to start calculating your SM or YouTube influencer rates.
Here’s an example you can use to start calculating your own rate.
Note, however, that there are different ways to calculate your influencer rates, and this is not the only or best way to calculate your influencer rates.
Assumptions:
For our calculation, we’ll assume you are a micro-influencer on Instagram, and we’re taking a conservative approach for your base rate, so we’ll assume the following:
Base rate per post: $100
Number of followers on IG: 10,000
CPM: $20
The CPM of $20 is a mid-range figure commonly used in the influencer industry. It’s an average based on the difference between the lower CPMs that influencers with larger audiences have and the higher CPMs that are usually charged by highly engaged, niche influencers.
Calculation of the base rate using your CPM:
Formula: Base Rate = (Number of Followers/1,000) × CPM
Your base rate = (50,000/1,000) × 20 = $1,000
Adjustments based on additional factors:
Now, we know what the general base rate is for an average influencer. But now, you must adjust your base rate based on all other factors, which, for our example, are as follows:
Niche/market adjustment: +10%
High engagement rate: +20%
High ROI: +20%
Long-term partnership discount (5 posts): -10%
Usage rights for 1 year: +30%
Adjusted rate:
Adjusted Rate = $1,000 + (10% × $1,000) + (20% × $1,000) + (20% × $1,000) − (10% × $1,000) + (30% × $1,000)
Calculation:
Adjusted Rate = $1,000 + $100 + $200 + $100 + $200 − $100 + $300 = $1,800
So, in our example, you could charge approximately $1,750 per post, considering all the factors we took into account.
That’s the answer to “How much should I charge as an influencer?”
Now, you can play with your own numbers and calculate your influencer rate!
What influencer fees to charge on Instagram
These were all the basic factors all influencers must take into account when setting their influencer fees.
Now, let’s dive deeper into exactly what influencer fees you should charge.
Want to know exactly what you should charge on Instagram?
I’m telling you about all the influencer fees you should include in your influencer rate card for Instagram specifically (to increase your income) in my blog post on the 5+ Key Add-Ons for Your Instagram Post Price List to 3x Your Brand Deals (+ Example Calculation).
What you need after setting your SM and YouTube influencer rates
Now that you’ve set your influencer rates, you need to secure your payments and protect your money!
That’s what you need an iron-clad brand sponsorship agreement for with all the money protections you need.
Don’t have a contract template? Get your (influencer-friendly) brand sponsorship agreement on this page of my contract shop!
This post was all about the crucial factors to answer the question, “How much should I charge as an influencer?”.
Want to know how to maximise every brand deal? Read this blog post on how to Turn a $5,000 Brand Deal into $7,500 with Your Brand Sponsorship Contract (7 Essential Money Terms).
Want to know what you need to include in your contracts for your brand sponsorship deals? Read this blog post on the 9 Key Scoping Terms Every Instagram Influencer Agreement Template Must Have for Influencers.
Need a brand sponsorship agreement to maximise your income and keep your hard-earned cash? Get your contract template on this page of my contract shop!
