Before we jump into the $$ talk, we have to implore you…don’t start a blog or “influencer” account to make money. It is SUCH hard work and truly necessitates authentic passion and resilient patience. Turning your life into a business is only right for those who really love the grind and their online community first. Also, NEVER take on a paid collaboration if you don’t really love the product you’re getting paid to advertise. Discrediting your trustworthiness with your followers is not worth the one-time payment; trust us!
OK enough of that, on to the question that has you reading this article in the first place: How do you know what to charge for collaborations as you grow and start monetizing your Instagram?? There are a million ways that influencers and brands decide their starting numbers, but here are two general rules of thumb for determining your fee per-post.
- Historically a fairly common starting place is to charge $100 per 10,000 followers. However, engagement percentages can significantly impact this one way or the other (low followers with high engagement can mean more to a brand than high followers with low engagement… see more on that below)
- Another way is CPM (the cost to reach one thousand people). To calculate this, take your follower count and divide it by 1,000. Then multiply that by $5-$15 to get your fee per post. We know $5-$15 is quite a range. The right number that applies to you is strictly based on your engagement percentage. AH! #moremath …How do you determine your engagement percentage??? Websites like @Fohr.co can be really helpful here. Otherwise, you can figure out your engagement percentage using this equation: average likes + average comments / total number of followers x 100. Note: to get your average likes + comments we suggest using your last 20-30 posts. If your final engagement score is 1%-3% then you are on the lower end of that $5-$15 range vs. if you score is 5%-8% you are on the higher end and can charge more.