The majority of marketers use the one cent per follower rule to calculate the rates of a social media influencer. The pricing is mainly based on social media influencers’ impact and other factors. Based on 2020 data, Facebook influencers charge an average of $25 per 1,000 followers, while Instagram influencers ask $10 per 1,000 followers. Meanwhile, YouTube influencers cost an average of $20 per 1,000 followers, and Snapchat influencers charge $10 per 1,000 followers.
Several factors determine the rates of social media influencers in 2020.
Some of the considerations are:
- The total number of engagement their posts generate
- The total number of fans and followers of the influencer
- The relevancy of the advertisements (ads) with the influencer’s brand and following
- The number of posts you order and the platforms where your influencers will promote your brand, products, or service.
- The type of content you require like videos, images, audio, etc.