One of the biggest questions I get in DMs on Instagram is “Okay, I’ve been chatting with a brand and they asked me for my rates! What do I do?” or “Can I really be charging for my posts? I only have X amount of followers!”
The answer is YES! You should absolutely be charging brands for your hard work. Knowing your worth as a content creator is one of my absolute favorite topics – check out this blog post for more info about why YOU SHOULD be charging brands.
Know Your Worth
If you came here, it’s because you know your worth! That is awesome. As influencers, we deserve to be compensated for our work. Think about it – if the brand didn’t have you working on their sponsored content, they’d likely be creating traditional ads. For traditional ads, the brand would need to hire a photographer, models, stylists, hair and makeup, editors, graphic designers, marketers, and more. All those costs add up QUICK! You do it all. The brand should ABSOLUTELY compensate you for your time and efforts.
Getting Started
Ok – pep talk over. Let’s talk rates. When I first started out, I was super nervous to ask for even $50 for a sponsored post. I felt like I couldn’t charge anything because I didn’t have “enough followers.”
I became a bit more confident when I began working with influencer platforms that have paid collaboration opportunities available. I started applying to these opportunities and realized my applications were often accepted. It was then that I began taking myself and my content seriously and asking to be compensated for my work.
Now that I’m a little further into my journey as a content creator, I do feel that influencer platforms severely underpay influencers. They are a great place to get your start, but now that I am close to 20K on Instagram, I find that brands are much less willing to meet my rates on these platforms. So, take these with a grain of salt. Use them to gain confidence with brands and try to move negotiations off-platform when you’re further into your career as a content creator.
Be Wary
When you are first starting out, you may hear a few myths about how to determine your rates. The biggest one floating around the industry is “A penny per follower.” Meaning, if you have 100,000 followers, you could charge $1,000 per post. This rate is absolutely below industry standard in 2021. I am typically making more than that per campaign with 19K followers. Unfortunately, there is no standardized rule or magic bullet answer.
When I am asked for my rates or my rate sheet as an influencer, I rarely provide the same set of rates. I personally do not like to use a rates sheet as I feel it boxes me in to just what is included on the pricing sheet. Instead, I say something along the lines of the following:
My standard base rates are as follows for each type of deliverable. Please note that these rates are subject to change depending on required exclusivity, usage, timeline, and content guidelines.
- Instagram post (static): $x
- IG Story (3 frames): $x
- Blog post (300-500) words: $x
- Pinterest share with an original pin: $x
- Instagram reels or TikTok: $x
Please let me know if you agree that we could be a great fit for a partnership! I’d love to know how best I can support your marketing needs.
Give this method a try and let me know how it goes! Now, let’s talk about determining what to charge as your rates when working with brands.
Questions to Help You Determine Your Rate
What deliverables are you providing?
Your rates SHOULD vary depending on the service you are providing. A static post requires far more effort than a simple IG story. A video takes even more production than a static post. Think about your time. Take that into account when calculating your rates and ask for an outlined set of deliverables before providing a rate.
What are your costs of creating content?
Consider costs for you as the creative such as studio rentals, public transportation, props, and clothing budget. Do you plan to shoot at a specific location? Do you need to drive there or take public transit? Do you need to bring certain props? Do you use a clothing rental service? These are all FIXED costs that you must pay in order to produce content for a brand. Factor these costs into your rates!
Additionally, do you work with any professionals to help create your content? For example, a photographer? Or maybe you get a blowout at your favorite hair salon before shooting. You have to pay for those services! Consider your costs when determining your rates.
Lastly, have you invested in camera equipment or lighting gear? What about a vlog camera? Do you have a laptop or an iPad you use to create content? Think of even your wifi costs or what it takes to keep your blog up-and-running month-to-month. Incorporate these costs into your rates.
What is your knowledge or level of expertise?
Have you purchased a course to help you boost your engagement? What about all that time you dedicated to listening to podcasts, hopping in Clubhouse chats, and watching Youtube videos to learn about influencer marketing? You can and SHOULD charge for your expertise. You know what works for your audience. As an expert on your personal brand, you know when your post will receive greater engagement, how to get your audience to interact with your content, and what their interests are. This level of expertise is VALUABLE. Charge for it!
Are you locked in to exclusivity?
For example, say you have agreed to work with Target, and they ask that you not work with any of their competitors for 3 months after your post. If Walmart approaches you and offers double the bid for a post, you are contractually obligated to Target. You can ask Target to compensate you upfront, knowing that you might run into this dilemma. If the brand is unwilling to compensate for exclusivity, I ask them to remove that clause from the contract. I also offer some different pricing and rates based on various windows of exclusivity (2 weeks is a lot different than 3 months).
What is the turnaround time for this campaign?
Is the brand requesting a super quick turnaround? I have personally asked for additional payment when this is the case or an extension. I work a 9-to-5 job and only shoot on the weekends, so its important to consider my time commitment. When the turnaround time is less than 2 weeks, I typically ask for a rush fee of $250.
How does the brand plan to use your content?
Will the brand be reposting to their social accounts? Will they be creating ads with your content? Could they be placing your photos on a billboard? Are they whitelisting your content? It is important to understand how they are using your content. The more items they are using your work for, the more you can charge. A tool that has helped me price out some of these terms of usage is Getty Image Price Calculator.
Additionally, for me, my licensing fees for social media usage look quite different than my rates for extended usage in ads, email marketing, or print marketing, for example. My usage rates vary drastically depending on the term of usage as well, so pricing for 6 months would be far less than pricing for usage for 2 years. I typically try to steer clear from agreeing to usage for more than 2 years and especially usage in perpetuity. You never know when a brand may come under fire for past actions and I personally would not want to be associated with a brand that has been “cancelled.” That being said, it is important to do your due diligence and research the brands you are working with to make sure that you agree with their mission and values.
Is this a large corporation or a small business?
Know that your rate CAN vary depending on the brand. Is the brand a smaller business? Are they just starting out? Or are they a larger corporation with a massive marketing budget? I am more willing to partner with small local businesses on a smaller budget or gifting basis as I am a huge believer in supporting local business. However, a multinational corporation is an entirely different story. They absolutely do have a budget to pay influencers and if they say they do not, they likely aren’t being truthful.
What is the brand’s marketing budget?
You CAN ask the brand what their budget is or if they have a budget for the campaign FIRST when discussing deliverables. I often do this when trying to get a feel for what my rate should be for that specific project. This question is also a nice way to segue into a conversation about a paid collaboration instead of a gifted one.
What are some tips that have worked for you when determining your rates? Have you used any of these resources before? Did you ever consider some of these items when pricing out a collaboration?
I hope this helps you gain confidence in your rates and determining what to charge per each request!
Are you a new blogger or content creator looking for more resources? Check out these recent posts:
- How to Choose the Best Platform for Blogging
- How to Provide Quality Content to a Brand
- My 2021 Content Calendar
- 9 Blogging Essentials You Need
- How to Maintain Relationships with Brands
- Pitching to PR Contacts (+ How To Find Them)
- Boost Your Instagram Story Engagement
- How to Get Noticed By Brands for Collaborations
- Pitching to Brands as an Influencer (+ real email templates that I actually sent!)
- The Tea on Instagram Giveaways
- Influencer Marketing Platforms to Help You Make Money
