📓 The Cost of Influence(rs)
If you’re considering influencer marketing, this Shopify guide might be helpful. I’m partial to the price benchmarking equations:
Instagram
Rate = ((# of Followers / 10,000) * $100) * # of posts + additional required expenses (as agreed to)
or
Rate = (# of Followers * 4%) * # of posts + additional required expenses
TikTok
Influencer CPM = Average # of views + likes + comments for last 5 posts / cost of content production
Hidden costs:
- Usage rights
- Exclusivity
- Agency / management cut
- Long running campaign partnerships
- Cross-platform posting
- Short turnaround time
- Adding a link
And maybe see if you can get a wholesale or AAA member discount.