How Much to Charge for an Instagram Sponsorship?
What if you were told you would get paid to travel, eat, and dress awesome outfits, in exchange for a stunning selfie? Sounds great, doesn’t it?
What if we tell you that the influencer industry is now worth 15 billion dollars according to the Business Insider! And the industry is growing super rapidly.
We are quite sure you would want your share! So let us take you on a quick journey on how you can market & charge your skills rightly on Instagram.
Easily determine how much to charge for an Instagram sponsorship
- The 1% rule
Charging strategies vary from one influencer to another as there is no agreed-upon rule.
Yet, one strategy that could help you out is the 1% formula. What is it you may ask?
The formula is pretty simple: Charge 10$ for every Thousand followers you have.
For example, a micro-influencer who has 50k followers would charge 1% per thousand followers (50,000x0.01= 500$ __ A.E. Your Followers x 1% = $Your Rate).
Of course, this isn’t a must-obey rule. This one works perfectly well with micro-influencers and sometimes macro ones too. But macro and mega-influencers (people with more than 500k followers) can charge a little more!
Let’s check the next strategy, it might be the one for you!
- Rate through deliverables
Another way to determine your Instagram sponsored post price is through deliverables, time, expenses, licensing, and exclusivity…
Deliverables can be:
- Type & Quantity: How many posts or stories does the brand want for this collaboration? Will the content be an IGTV, REEL, or do they require a normal post?
Also, consider the engagement and views you get & the time taken to film or make the content.
The IGTV would be longer and would need more effort, for instance; so, charging 15$ to 100$ extra for them is very reasonable.
- Deadlines: Let’s say you can work on a piece of content and get the collaboration post ready in one week.
Nike reaches out to you and asks you to get this whole thing done in just 2 days because that’s how tight their schedule is… You’d necessarily have to hire extra hands to save time and deliver on time…
This is extra work, and extra work equals extra cash!
Calculate how much you’d have to pay a photographer or a video editor you had to hire (or any other skilled individual) and add the $$$ to the final bill!
- Licensing: It consists of the permissions the sponsors require from you.
For instance, the sponsoring brand wants to repost your work in their Instagram page without credits or feature your video in advertisements… you charge extra for that!
- Exclusivity: It refers to when a brand tells you to not work with their competitor for a certain period.
For instance you sign a contract with Nike for $15,000, with 4 months exclusivity; this means that you cannot promote any other sports brand for the next 4 months.
Even if Adidas wants to collaborate with you for $20,000, you will have to decline or postpone the offer as long as you’re still under the exclusivity agreement.
Ready to go to the next stage in your influencer’s journey?
Instagram has become the go-to platform for influencers wanting to earn greenback through sponsored posts and stories.
Here, we'll be listing some tips & tricks as to how any Instagram influencer can get sponsorships and charge for it.
Stick around and you’ll learn exactly how to win more instagram sponsorships and grow your account.
With no further prolongation, let’s get the party started!
- Build your asset
Your account and content are your biggest asset when it comes to getting sponsorships. You ought to be consistent with your posts & keep track of the time when your followers are most active.
Your posts carry your trademark; they should consist of content that adds value and attracts consumers simultaneously.
For instance, if you are active in the fashion modeling and makeup niche, tailor your efforts around producing content that helps people look and feel better about themselves.
Do this for long enough, and you’d start rapidly growing your engaged fanbase and attracting more brands to collaborate with.
- Standout with a modern Instagram Influencer Mediakit
A mediakit is your influencer’s resume or portfolio. It includes information about your career’s achievements, statistics about your content and profile, demographics of the audience… etc.
Typically, a content creator will get a PDF template and start checking each of his posts and channel’s statistics, then fill the boxes of the PDF mediakit template!
Only then, he’d be able to send it to brands and sponsors who as well need to go back to the influencer’s profile and double-check if the info presented is honest and sincere.
Let alone the pain of continuously updating the PDF thingy!
This whole process will extend the negotiation period and may result in misunderstandings or even end the collaboration before it starts!
Avoid this whole drama by using Mysocial’s mediakit!
With Mysocial App, it takes minutes to set up a professional influencer’s mediakit that will be updated automatically every single day!
Yes! All you need to do is:
- Download the app
- Complete your profile
- Connect your social media accounts
- Start sharing your mediakit!
- Reach out to brands
Being an awesome content creator definitely matters when it comes to getting brand deals. But unless you’re putting yourself on the radar of marketers and brands, you may not get enough deals to keep the wheel rolling.
Again, Mysocial got your back and offers you a list of no less than 3000 contacts of brands and marketers!
Using the Mysocial App, you’d access this massive database and be able to connect with influencer-friendly hotels, restaurants, clothing brands… and almost any industry you can think of!
- Network with other influencers
Networking with other influencers is crucial to grow your Instagram account and reach more people.
There are different ways you can connect and build friendships with influencers such as interacting with their content, sharing their posts and tagging them, or even DM them directly!
But again, Mysocial offers you the matchmaking extension, which allows you to network with like-minded influencers and Instagram content creators.
You can use filters to network with influencers near you, who operate in the same niche as you, and who share the same interest!
In a Nutshell
Download Mysocial App to benefit from all our outstanding features. You’ll be able to grow your Instagram account and start reaching out to thousands of sponsors with the tip of a finger!
Keep up the hard work, and as always, Stay Awesome!