For brands
What influencer marketing really costs
Dasha Samoylenko
Author
The main misconception of influencer marketing is that it's very expensive and only big and famous brands can afford it. But it's not completely the truth. Social media has different types of influencers. So that even brands with small budgets can use such type of promotion.

Influencer marketing really worth its usage because 92% of brands which have tried it in 2017 considered its effective.

You may ask what are exactly social media influencers and what you can reach with their help. The answer is quite easy: they are the main driving force in advertising world now. Above all, nobody is better than they in the content creation. And it's well known that good content is very important for brand' successfulness.

Collaboration with influencers can easily help you to stand out from other brands. Let's just figure out on what factors depends influencer marketing cost.
1. Types of influencers
The number of creators' followers affect their posts' cost. Less followers-less cost. Therefore, posts of celebrities are the most expensive. But it's not reflected on the campaign effectiveness.

Nano and micro social media influencers have not less power than celebrities. They create more unusual and interesting content. Their posts often bring better results because they have a more engaged audience. Besides, micro-influencers followers frequently better match with brands' target audience. It happens due to the fact that they have a certain niche of interests.

If you are, for example, a cosmetic brand and your target audience constitute women at the age of 25 it's better to use micro-influencers in the beauty industry. As celebrities commonly have a lot of teenager followers, the audience of beauty-bloggers will be more relevant to your target audience.
2. Engagement rate
If content creators have a big engagement rate it means that they have a higher reach of posts. Thus, the post' price also depends on it. The more engagement rate has influencer-the more expensive will cost post. But the engagement rate of social media influencer (the coefficient of creators' likes and comments to the number of followers) is very important for campaign effectiveness. In order to have a good result, you should pay attention to this factor.
3. Social media
Advertising with content creators on each social channel differs in cost. The most expensive is on YouTube, then go Instagram, Facebook, Twitter and other. But according to the Hashoff research, Instagram is the most popular social media channel among brands and creators. So before running a campaign think about where it will be more profitable.
4. Type of the product
The price of the post either depends on the product' cost. If it's something expensive, posts will cost more. Also, if your product is from a unique category and narrow-focused, there are fewer content creators in your industry. It means that posts will be more expensive. But with influencer marketing you can run a barter campaign or try to reduce the price of social media influencers posts.
5. The number of action
If creators should just make a post about your product it will be cheaper. But if it's required more action (make more than one post; go somewhere and make a review with photos; make a video and edit it etc.; make a cross-post to all their social media profiles) the price will increase.
6. Ways of collaboration
Probably you need a smaller budget if you find influencers on social media on your own. But it's not the best and safest way. Unfortunately, there is no guarantee that if you pay creator, he/she will definitely make the post. If you want to secure yourself, it's better to create the campaign with the help of influencer marketing platforms or agencies.

Besides, these approaches provide you with a lot of benefits: from the easy way of influencers' finding to the full analytics at the end of the campaign.
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