Compensation is one of the biggest questions for marketers and influencers alike. Influencer marketing campaigns don’t have an established pay scale. Brands struggle to set budgets while influencers struggle to put a price on their time, content creation skills, and access to their curated audience.
Fortunately, IZEA has tracked and analyzed influencer payments since 2015 and can shed some light on compensation.
Can you trade products for social media posts?
For starters, you might wonder if you can send an influencer a free product in exchange for a promotion or a review on Facebook. While it is possible, particularly with small audience influencers, it’s not ideal. Just 5.7% of Facebook influencers are willing to work for product-only compensation while 70% prefer a free product and compensation.
Factors that influence compensation
When it comes to campaign payment, costs often vary. What’s behind the sliding scales of payments? There are a handful of factors that can drive costs up, such as:
As you might suspect, influencers with mega audiences often charge more. Kim Kardashian, for example, who has 306 million followers on Instagram, charges $300,000-$500,000 for one endorsement. While her payscale is certainly on the high end, it does show a direct correlation between compensation and audience size.
Type of content
Different types of content require different time commitments. A Facebook image can cost less than a video. A product review will cost less than an ebook. The more work it takes to create the content, the higher the cost.
A seasoned influencer will provide engagement rates for everyday traffic and for sponsored posts. Influencers with great engagement can charge more. Average engagement rates are between 2-3% are average; rates from 4 to 6% are excellent, and anything in the teens is considered viral.
If you find an influencer that really connects with your audience, you may want the influencer to work with your brand exclusively. If that’s the case, an influencer must sign a non-compete agreement and receive compensation that makes up for potential lost income.
How much do Facebook influencers charge?
To get a better handle on how much a Facebook influencer charges, IZEA conducted a study. By analyzing the payments of more than $60 million influencer marketing campaigns across all channels, the IZEA State of Influencer Earnings™ 2022 provides an average cost by platform.
Average cost for a sponsored post on Facebook
The chart below shows the average cost for a sponsored post on Facebook is $833. It’s the second most affordable option, behind Twitter. You’ll notice YouTube is the most costly channel for influencer marketing, with videos costing $4,491 on average.
When you compare the cost of Facebook endorsements to YouTube endorsements, YouTube is seven times more expensive than Facebook.
Average cost of a Facebook post combined with post on another platform
When a brand commits to an influencer marketing campaign, it makes sense to get as much leverage out of the campaign as possible. As a result, more brands want influencers to create content for multiple sites.
The chart below shows the average costs when you pair Facebook with another platform.
Here’s a breakdown of platform combos:
- Facebook and an Instagram photo: $2,208
- Facebook and a blog post: $2,586
- Facebook and an Instagram Story and photo: $3,054
When you add platforms, the cost almost triples. The cost goes from an average of $833 for a Facebook post to $2,000-plus to add a blog article or Instagram content.
Average cost of a sponsored Facebook post by audience size
Audience size plays a role in campaign costs. To access audience sizes, influencers are broken into groups. The tiers are as follows:
- Nano-influencer: 1,000-9,999 followers
- Micro-influencer: 10,000-49,999 followers
- Mid-tier influencer: 50,000-199,999 followers
- Macro-influencer: 200,000-499,999 followers
- Mega-influencers: 500,000-999,999 followers
The State of the Influencer Earnings 2022 shows payment across all platforms based on an influencer’s audience tier. You’ll notice compensation increased from 2020 to 2021 for all tiers.
In 2021, a nano-influencer charged right around $800. The next tier up, a micro-influencer, charged around $1,500, while mid-tier influencers charged about double, around $3,000. Macro-influencers charged about $5,000 and mega-influencers topped the chart at almost $7,000 per post.
All of these rates represent record highs since IZEA started tracking payments in 2015.
As you can see, compensation for Facebook influencers isn’t exactly straightforward. However, these benchmarks give you a good starting point to discuss compensation. If you’d like more in-depth statistics on campaign compensation, get the State of Influencer Earnings 2022 report from IZEA today.