In this digital world, influencer marketing is one of the major and effective ways to reach your target audience, particularly on social media platforms. But influencer marketing prices can vary widely based on your business goals, platforms you are targeting, business industry and posting frequency, etc. So, the question is how can you find the ideal influencer for your brand and at what price in Chandigarh?
Influencer Marketing Price in Chandigarh
In this article, I am going to share the major impact influencer rates, average influencer rates for the most famous social media platforms, the different types of influencer partnerships that you can get, and how to find an influencer that will work with you to take your business to next level. We all know influencer marketing expands your brand’s reach and speaks to a generation tired of overproduced and inauthentic advertising.
We must understand that consumers trust influencers’ recommendations as compared to a brand’s social media account’s recommendations. Even if you are familiar with influencer marketing and branded content then next it comes to influencer pricing and everyone seems to have an opinion. There is not a standard method to measure performance in influencer marketing, so getting the ideal influencer for your business, what platforms you want them to broadcast on, and how much you should pay them can be tough.
Social media influencers fall into certain categories that are based on their reach-
- Nano influencers- Nano influencers are those influencers who has 1 thousand to 10 thousand followers on particular platform.
- Micro-influencers- Mirco influencers are those who has followers in numbers from 10 thousand to 50 thousand on particular platform.
- Mid tier influencer- Mid tier influencers are those who have 50 thousand to 5 lakh followers on specific platform. ‘
- Macro influencer- Macro influencer are those who have followers in numbers from 5 lakh to 10 lakh on particular platform.
- Mega influencer- Mega influencers are those who have more than 10 lakh followers on specific platform.
Now we should know about the factors that must be considered before partnering with influencers in Chandigarh-
- Business Goals- To gauge the success of your partnership, you must write your business goals and specify key performance indicators (KPI) in a spreadsheet or planning document. Increase brand awareness, increase sales and increase followers are some of the KPIs that can be good starting point.
- Affiliate marketing- Affiliate marketing is a sales model where a business pays a third party to recommend services or products to their target audience. And in return the third party receives a referral commission. Most businesses have an affiliate program because it is low risk and a commission is only paid after products or services are purchased. When you set up an affiliate marketing program them you must make sure that you have set it up and track it properly.
- Production arrangements- Production arrangements are likely something that you would not need to worry about and it is still a good idea to be well versed on what that means. Relying on you brand and partnership you may need like if your influencers are expected to travel and what arrangements may need to be made, do they need to rent a studio and what type of equipment do the need for content creation.
- Timeline for content creation- This is one of the major factor that how long it will take for the influencer to produce the content your need. If you are asking for multiple posts on a short period of time then it might make your offer hard to accept, especially with in demand influencer who already have other contracts to fulfill. To take that into account, you can be banked on a few extra weeks for final arrangements and negotiations.
- Social media platform- Some social media influencers might charge the same rate for all type of posts no matter the platform it will be used on but much more likely that the rates will vary. After all, each social media influencer has a different type of audience and creator resources also vary from platform to platform.
- The reach of the influencer- Reach is that how many people the influencer has access to form their platform. Reach is based on how many followers or subscribers the influencer has and how many have the potential to reach audience. More often than not, the more followers an influencer has the higher the price are going to be.
- Follower engagement- You will find that influencer rates vary that are based on how much engagement and influencer generates on their organic vs sponsored content. You may think influencers with more followers are going to get better engagement rates but that is not usually true. The more engaged the followers of the influencer the better for your business.
- Industry or specialization- All businesses want to find an influencer who are specialized in the business industry you are in. Would you trust a fitness influencer who suddenly started talking about financial services, especially if they have never so much as hinted that finance was in interest of their before. Popular niches like fitness and beauty influencers are going to have a greater number of influencers available and the pricing can likely be lower than niches with a smaller number of available influencers. You can also take a look at the industries that are favored by an influencer’s audience to ensure that it makes sense to recruit them for your business.
- Type of content- Type of content that you are asking for is a major factor that can impact price of in influencer. This is because influencers will need to spend time, energy and resources to create the content and various types of content need various things. This includes considerations like how much content the influencer will require it create and whether they or you will be offering the necessary resources. The more effort and time it will take to create the content you are asking for then the more you can expect to pay for it.
- Demand of the influencer- In case, you are asking for a seasonal social media campaign then you can expect that it will come with a premium price tag. This is a standard economics as high demand led to higher rates. You can also run into this problem outside of seasonal campaigns if you are interested in an influencer that is particularly famous.
- Usage rights- If you are planning to repurpose on influencer’s content then you must be sure to discuss that with them ahead of time and outline the terms in the influencer contract. There are some influencers that will charge more for content that is going to be reused, so you must think of each use as an individual product once you have used the product up by having the influencer post a video about your products or services to the social media platform you have no product left to use in your advertisements.
- Type of product- The cost of the advertised product may also change the influencer marketing cost. It is something expensive such as cars or luxury accessories then the post will cost more than of you advertise, say, cosmetics are casual clothes. And, if your product is of different category and narrow focused then there will be fewer content creators in your business industry which mean that post will be more expensive because of lower competition.
- The number of actions- If a social media influencer should just make a post about your service or product then it will be cheaper. Bit on case you need more actions like influencer have to make more than one post, go somewhere and make a review with photos, make a video and edit it and make a cross post to all their social media profiles then the price will increase.
- The way of collaboration- It may look cheaper to find influencers by yourself, without intermediaries but you spend a lot of time searching and negotiating and the sample will never be large enough unless you spend more time in searching. You have no guarantees, so you just have you pay and wait to depend on the influencer’s decency and responsibility. It is difficulty to negotiate and you never know whether your price is fair enough.
- Exclusivity- Social media influencers make their money by promoting various businesses. It is possible that you might choose an influencer that you competitor wants to use, too. In this situation, you might want to ask the influencer to sign a non-compete agreement or exclusivity clause with their influencer contract that will restrict then from promoting a competitor for a particular period of time. But you should better be prepared to pay and quite a bit, too since you are essentially asking them to give up ither potential income.
How much do social media influencers charge per post?
As I have already mentioned that the amount social media influencers charge is dependent on quite a few numbers of factors. Now I am sharing the average influencer earning per post based on type of influencer and social media platform.
- You Tube- There are some You Tube influencers that their charges are based on video views as they are charging $50 to$100 per thousand views.
- TikTok- TikTok is banned in our country so there is no real neat and tidy way to determine how much Tik Tok influencer earn. Tik Tok has a number of followers who are not necessarily celebrities but who still have tens of millions of followers and these influencers can earn upwards of $10,000 per post.
- Instagram- A standard sponsored Instagram post usually include a photo and caption, but ins come cases the product is featured in the image. There are also some cases when a service is being promoted, the caption is more important. So, you might roughly expect a photo post to cost under $2,000 for accounts with under 1 lakh followers. For macro influencers you might expect to charge in the $5000 to $10,00. Adding a poll to influencer’s story is a low-cost way to learn more about an influencer followers.