Influencer marketing is growing faster than ever. More and more brands are realizing the value and power behind influencers and content creators, especially those that have super targeted and highly-engaged communities.
On the other side, the information and resources available for influencers to know their worth is still very limited and the majority of the time, they just end up undercharging what they’re really worth.
So make sure to read until the end to find out what can you charge for and how can you negotiate with brands that are asking for a lower fee than what you really deserve.
Why content creators and influencers are more important than ever?
Since 2020, brands realized the importance of having a strong social presence. And this doesn’t mean just activating their social channels.
As traditional marketing methods were not compatible with their audiences being locked up at home, brands started to turn out to content creators and influencers who are experts at creating creative content for their audiences.
Influencer marketing increased by 46% in 2020 and it is on track to become a $15 billion dollar industry by 2022.
Furthermore, 63% of marketers have stated that they intend to increase their influencer marketing budget in 2022.
So yes, the influencer and creator’s industry seems to have a bright future and as a creator, knowing where this industry is heading is essential if you want to succeed in a very competitive landscape.
The Industry Standard
Let’s begin with the industry standards, which you can find pretty much anywhere online.
You should charge 1% of your followers or $100 for every 10,000 followers.
Now, that might not seem like a lot and you might think.... well, to make good money as an influencer I need to have at least 100,000 followers...
The 1% rule is your BASE FEE. But there are so many more factors that affect this including your engagement rate, exclusivity, content usage, white-listing, and other deliverables the brand could ask for.
So let’s dig more into these.