How do you determine your rates as an influencer or Creator? Well, there are many factors that can influence your rates, many of which we will cover here. Some of these factors may be personal, others may be professional. The industry is still growing—and so are you! You may price a piece of content today at one rate and that same piece of content can grow in value as you do as a Creator. As such, it is important to price your content accordingly and consider the many variables at play.
Believe in Your Selfie
Before you pull out the calculator, push any limiting beliefs out of the way. If you produce content but don’t believe in your ability to monetize it, then you must identify any limiting beliefs that are holding you back and coloring your perception of your work and worth. If you’re not yet confident charging for your content, examine why that may be. Your influence and skill set can and will grow. However, if your self-esteem is keeping you down, you must challenge your feelings of doubt to move up the social media ladder.
Pricing Your Work
An influencer rate is shaped by several variables. No hard and fast rule determines what you can and cannot charge, but it is important to keep it realistic. Don’t overcharge if you can’t deliver, but don’t sell yourself short either. Ultimately, you are the authority on your content, you know what it takes to create it, and what your time is worth. Let’s begin with three buckets that can serve as a guiding baseline: content, channels, and overhead cost.
Begin with your content type—what are you making? The type of content you are creating is critical in determining your rate. Different types of content demand different production requirements. Are you producing a video, still images, or a 10-second Instagram story? Your price will be directly affected by your content type.
The time it takes you to create the content must also be considered. How labor-intensive are the tasks at hand? How many hours will you spend crafting the content? Some Creators have years of experience that allow them to execute content quickly. In cases like that, your rate will be more influenced by expertise than by the time spent producing content.
Your expertise and talent will also influence your content rates. Greater expertise can command higher rates, especially if the Brand will use your content for their promotional materials. However, quality content does not always translate to high production value. A piece of content may qualify as high quality if it consistently generates strong conversion rates for Brands, even if production values are modest.
Consider your channels of distribution. Where is your content being shown? Are you publishing it to your home feeds or is it strictly for Brand use? Are you sharing it on a social platform, or will it be featured on your blog? Given these considerations, your rate will be affected by where you share your collaborative content.
More often than not, influencers are sharing sponsored content on their platforms. If a Brand asks you to post on more than one platform, then your rates will increase per addition. Moreover, your rates will vary based on your performance metrics and follower count on each platform.
Here’s an estimated breakdown of cost for content types on popular platforms:
Link in Bio: $
15s Reel: $$
30s Reel: $$
60s Reel: $$$
Feed Post: $$$$
Link in Bio: $
15s Video: $$
30s Video: $$
60s Video: $$$$
Dedicated Video: $$$
Overhead costs can cover both production and administrative expenses. Costs related to production can include equipment, hiring creatives (such as makeup artists, photographers, or stylists), and possible location rental. You must account for these expenses when determining your rates.
Partnership requirements will change from Brand to Brand. However, most will require a degree of administrative work, which you should factor into your rates. Administrative work can range from pitches, revisions, and back-and-forth communications. Make sure you’re fairly compensated by setting rates that honor your time and effort.
Variables That Influence Your Rate
Pay rates are not standardized for influencers and Creators. These rates are influenced by variables that can change over time and per Creator. These include usage rights, exclusivity, follower count, engagement rate, audience, and values. Let’s delve into each of these below.
Usage rights dictate how long a Brand can use your content. It is common for Brands to have organic usage rights for 30 days. Anything greater than that is typically negotiated beforehand. If a Brand requests usage rights in perpetuity, they are asking to own your content forever. This is not uncommon and is often embedded into agreements for user-generated content (UGC).
Exclusivity plays a major role in determining your rate. Brands will pay an extra fee for exclusivity. Exclusivity is a clause in your agreement that prohibits you from promoting a Brand’s competitors for a set period. If exclusivity is requested, be sure to increase your rate as you will potentially have to turn down work from their competitors if it arises.
While a high follower count can justify a higher rate, it does not always guarantee it if your followers are inactive. Brands may prioritize follower quality over quantity, especially when it comes to audience demographics (see below). Despite this, many Brands partner with big influencers for their reach. An influencer with a lot of followers can greatly increase Brand awareness and visibility, which in turn will increase the cost of content.
If you have a highly engaged, trusting audience who are likely to purchase the products you promote. A high engagement rate may trump a high follower count if a Brand seeks loyal customers over greater reach. It all depends on the Brand’s goal for the collaboration and your ability to achieve it. Keep a record of your performance metrics from past collaborations to show Brands how brightly you shine.
Your audience demographics can impact your pricing if they mirror a Brand’s ideal customer profile. Thus, the more your followers align with a Brand’s target audience, the more valuable your collaboration will be. Having a niche audience can also boost your rate as these groups are hard to reach through traditional marketing channels.
Content creation requires an awareness of your audience and is a delicate play between what you have to share and what they want to hear. You must be mindful of your audience and the impact of content on your followers when accepting Brand deals. Ask yourself, is the collaboration aligned with your values and aesthetics? Does it impede your authenticity as a Creator? If there are any potential risks to your reputation or your audience’s reaction, then your rate will be affected if you choose to proceed with your paid partnership.
At the end of the day, you are working with Brands as a professional, and not out of the kindness of your heart. As such, you must treat your work and partnerships professionally. This means setting realistic rates that honor your abilities, audience, and worth. It also means maintaining professionalism throughout the collaboration. To be a professional, you must maintain proper communication, complete content promptly, and cater to your client’s requests so long as they do not compromise the agreement or your values.
Set Your Rates With Glewee
If you’d like to simplify the process, you can try Glewee’s all-in-one collab platform for Creators. With Glewee, you can set your rates per platform and piece of content for Brands to see. You can also find, join, and manage paid partnerships as well as monetize your user-generated content. Glewee features new Brand deals daily, so there is no shortage of opportunities to create, earn, and grow as an influencer. To join, download Glewee from the App Store or Google Play and apply through the app. Happy creating!