It’s no secret that marketers love working with influencers.
They rely on the relationships they build with them to help spread brand awareness.
And while blogging and creating content across channels may be a hobby for some people, for others it’s a career.
And as a full-time gig, it’s obvious that influencers need to monetize their efforts to earn an income.
The amount they get paid depends on several factors, like the scope of the work, their niche, fan following, etc.
Here, we’ll take a look at how much a typical influencer can make.
But before we do, we’ll quickly discuss some of the ways influencers can make money.
1. Digital Products
Digital products allow influencers to create and distribute something tangible.
They can sell them to their network an earn an income for their knowledge, expertise, and influence.
These products can take the form of ebooks, guides, audiobooks, etc.
Podcasts are another good way for influencers to distribute their content and connect with their audience.
Podcasting takes a relatively low investment.
All you need is some basic equipment and you’re ready to use it as a revenue stream.
Primarily, podcasters charge a small fee from their subscribers to download and listen to their content.
Much like podcasting, webinars are also a cost-effective revenue stream for influencers.
It allows you to provide information in a more engaging and tutorial-style format.
These can be live or pre-recorded, and can be shared across platforms.
Usually, influencers charge a fee for access to this content.
4. Brand Ambassadors and Endorsements
One of the best ways for influencers to earn money is to collaborate with brands to help promote their products.
This can take the form of brand endorsements or content creation for the brand and their products.
Influencers are often brought on to serve the role of brand ambassadors for a certain duration.
Typically, businesses like to collaborate with influencers who align with the brand and have the right target audience.
You can use platforms like Influence.co to meet and connect with brands to see if they are a good fit.
5. Sponsored Posts
While brand ambassadorships are usually more long-term partnerships, sponsored posts are often one-off or short-term.
Sponsored posts (on social media or blogs) are when a brand leverages an influencer to create content that features the brand.
These posts can vary in number from just a couple to a full series of them.
Instagram happens to be one of the most popular and effective tools that influencers rely on to apply their talents.
Now let’s move on to look at how much you can earn as an influencer on Instagram.
We’ve used the influencer rate map from the Influence.co platform to determine these rates.
We’ll go through some key demographics by using the filter option to vary the search parameters.
- Overall: Looking at data from influencers across industries, age groups, following, and location, the average cost per post is $162.64.
- Male Influencers: Male influencers usually charge around $188.75.
- Female Influencers: Their rates are around the $150 mark.
- Age-wise: Average influencer rates per post vary with age groups too.Those under 18 charge around $116, $107.50 for 18-24, $173.20 for 25-34, $168 for 35-44, $214 for 45-54, and $182.60 for 55-64.
Rates by industry:
- Fashion: The average influencer rate in the fashion industry is $184.10 per post.
- Fitness: In fitness, it’s $172.51 for a single post.
- Health: Health and wellness influencers typically earn $185.68 per post.
- Travel: The travel industry sees an average cost of $181.79 for a post.
- Food: Influencers in the food industry usually make $156.50 from each post.
Influencer costs per post can also vary depending on the number of followers they have on Instagram.
- <2000: Typical charges are $119.68.
- 5k-10k: Instagrammers in this range have an earning of $88.41 for every post.
- 25k-50k: The average here is around $173.
- 100k-150k: We see a major price hike in this category, with earnings just over $330 for a single post.
- 500k-1M: The average more than doubles from the previous range, touching $793.
- 1M+: Unsurprisingly, influencers with such a vast fan following usually earn $1753.10 for each post.
Influencer marketing is, clearly, a lucrative option if you’re thinking of pursuing it as a profession.
Regardless of whether it’s a full-time job or something to supplement your income, it’s worth considering.
So long as you feel you can cut it as a social leader in your niche, you’ll do well.