The Golden Rule: How to Find Your Influencer Rate
We work with a lot of influencers to create their brand partnership contracts and the question we get asked the most is: what should I charge?
So we started using the Golden Rule to determine the influencer rates for our clients. Here it is:
1. The Golden Rule
The typical starting point is one cent for every follower. So if you have 10,000 followers, you’d charge $100 per post. For 100,000 followers, you’d charge $1,000 per post.
2. Factor in Engagement
Brands are relying on engagement rates more than follower counts lately. You need your engagement rates to be at or above the average for your number of followers. If you’re above the average, you can charge 10-20% more than the Golden Rule. If you’re below average, work to increase your rate or you’ll have to charge about 10-20% less than the Golden Rule.
Wondering what’s average? Here’s a quick breakdown:
1k followers = 8%
5k followers = 5.7%
10k followers = 4%
100k followers = 2.4&
100k+ followers = 1.7%
3. Add in the Partnership Details
The rate you charge will depend on the type of partnership you create with the brand. Here’s what we recommend:
Instagram Post: Follow the Golden Rule
Instagram Video: 2x the Golden Rule
Instagram Giveaway: 1.5x the Golden Rule
Instagram Story: ⅓ the Golden Rule
Instagram Story Takeover: 1.5x the Golden Rule
Blog Post: 2x the Golden Rule
Pro tip: Consider clustering your partnership options into monthly plans. You could offer 5 instagram stories per month at a discounted rate. Also consider a 3-6 month minimum with packages so that brands can get the full benefit of the promotion.
4. Lock it Down with a Brand Partnership Agreement
We’ve heard so many stories of brands + influencers who haven’t lived up to their end of the agreement. A contract ensures that you get paid for your posts, while avoiding lawsuits, FTC fines, and all of the drama!
We help our influencer clients create personalized brand partnership agreements that they can reuse for all of their deals. If you want a brand partnership agreement, let’s chat!