The Upfluence software provides you with a “Suggested Price” for each influencer, which is calculated based on the influencer’s audience size and engagement data. This number can be used as a guideline, but an influencer’s asking price can vary depending on many elements:

  • Their industry

  • Their location

  • Their occupation, social status, experience on social media, etc.

  • The type of collaboration between your brand and them (how many posts, campaign timeframe, which social media channels, etc.)

  • The product that you’re sending them (or other types of compensation)

  • Time of the year (Holiday season might be more expensive, for example)

  • Their audience size on other social media channels

  • And many more!

Because of this, keep in mind that influencer marketing relies a lot on communication, negotiation, and building long-term relationships. Here are some tips to keep influencer payments as low as possible:

  • Micro and mid-size influencers can charge less (or may only require free product), compared to macro-influencers

  • Find influencers that can relate most to your product and brand, since they are more likely to exchange collaboration with samplings

  • Long-term partnerships will save you in the long run

  • What does the influencer offer at at lower price point? (Example: Story vs. Instagram post, Instagram post vs. Youtube video, etc.)

  • Can you send the influencer a wider range of products (or for a longer term) in lieu of payment?

Blogposts: Influencer Payment vs. Product, Negotiating With Influencers

Report: The Ultimate Guide to Influencer Marketing Budgeting

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