A Look at How Much You Should Pay Influences to Do Sponsored Posts
Social media influencers have skyrocketed in popularity over the last few years, much to the amazement of most marketers. These influencers give you the ability to tap into specific markets and audiences that you probably didn’t have access to before. However, this has led to the problem of marketers, and those in marketing executive jobs generally, not knowing exactly how much they should be paying these niche celebrities. Thankfully, according to a UK Blogger Survey by Vuelio, they have obtained some clarity in terms of how much to pay influencers.
Vuelio actually contacted and sent surveys to 7,500 bloggers and the resulting 787 responses were used to determine influencer pricing. It should be noted that 78% of the bloggers indicated that they were only paid for about half of the work they did. The bloggers who were paid for more than half of their work were those who were in specific niches and these include lifestyle, fashion and beauty, parenting, nature etc.
What Influencers Earn
Now, you may be wondering, exactly how much money are they paid? According to the survey and trends, these bloggers were typically paid up to £250 for any collaboration or blog posts. About 27% of the bloggers indicated that they charged up to £100 for a sponsored post whereas 30% charged between £100 and £250 per post. When it comes to specific collaborations, 29% of the bloggers charged between £101 and £250 and 23% charged only £1 – £250. 8% of the bloggers indicated that they didn’t charge any money at all.
The blogs that got paid the highest amounts of money were basically super sector and niche blogs. 2% of these bloggers indicated that they charged a hefty £1000+ per post and 4% of the bloggers charged £1000+ for collaborations. These type of bloggers were usually in the travel, food, wedding, political,marketing, fashion, beauty and media niches. So, now you have a better understanding of the cost for sponsored posts or blogs, you may be wondering which influencers are the best ones for your business and will deliver the highest ROI.
A Changing Social Media Environment
Unfortunately, social media on a whole is getting more saturated, which means that it is much more difficult for specific audiences to actually receive the messages you’re trying to communicate to them. Even though an influencer may have thousands of followers, this does not necessarily mean that this is a good influencer for your business or even that they are a significant influencer in general. Most audiences are becoming smarter about the business and are typically wary of influencers who try to sell them things. So, if you cannot create a partnership with an influencer that looks and feels legitimate, then you probably won’t be successful trying to sell to their audience.
Finding the Best and Avoiding the Worst
Additionally, as a marketer, you need to be aware that many of these so-called influencers fake their influence through purchased likes and followers. In order to spot these fake influencers, you need to do thorough research about any influencer that you’re considering hiring. You can do this by asking for detailed information such as their demographic details which includes location, gender, age etc.
You should also ask any prospective influencer about what metric or metrics they define their influence through. If they can’t answer these questions easily and thoroughly, then it may be best that you look for another influencer to promote your business. If you’re still not sure about an influencer, then you can look into using specific tools which were developed to identify these fake influencers. One of the popular ones is LikeWise, which was developed by the Social Chain Group. This tool uses artificial intelligence technology in order to spot any fake bloggers or influencers.
In one particular case, they found an influencer that actually faked their engagement rate. This person claimed that they had a 96% engagement while charging £800/$1000 for a post. In order to succeed with influencer marketing, you will need to create a strategy where your business and products are completely immersed with the influencer’s brand and you’re not just doing random posts and collaborations. So, this means that you need to take the time to find the right influencer, whether that person is niche or global and then create a long lasting and strong working relationship for your mutual benefit.