As we learnt from Essena O’Neill, it can be a hard life being pretty and sharing photos of yourself using a tanning cream or sea salt hair spray to rake in the cash.
But with the occupation of ‘influencer’ becoming increasingly popular, advertisers and marketers can’t ignore their ability to boost a brand.
So how much do these influencers actually charge? How many are charging? And is it worth it?
A new report from GroupHigh has done the hard work and found out just how much your brand is worth when marketing on the social platforms of young, hip millennials with a knack for taking selfies.
The study found that 85 per cent of influencers surveyed accept monetary compensation for posts, while just over 11 per cent do not, and the rest only accept products for posts.
Based on these figures, GroupHigh said it’s time to “re-evaluate where marketing dollars are being used”.
“With over 86 per cent of influencers reporting that they accept monetary compensation, marketers should align their outreach plans and strategic partnerships accordingly. The budget that was once used for traditional advertising tactics is arguably better used when put toward influencer marketing.”
“The key to being an effective digital influencer is having an authentic voice,” influencer Jenny Bakos said. “It’s completely okay for influencers to accept money for paid sponsorships, so long as those paid posts accurately reflect that influencer’s persona in a genuine, non-salesman way.”
On how much influencers charge for a cheeky post, GroupHigh found on average, a mid-level influencer charges around $200-$500 per post, with 37 per cent charging under $200, and around 20 per cent charging between $500 and $1000 for a shout out.
The report stated, “Influencers are aware of their power to cause brand lift,” and thus they will expect compensation for featuring a brand or product. But trust of a post that promotes a brand is another issue, and it’s a fine line between authentic content and sponsored.
“Balancing authenticity is difficult to do when you are mixing in paid posts. Your followers are naturally turned off by it,” influencer Dante the Don said.
Savory Experiments’ Jessica added, “For me, I only accept agreements from brands that I truly believe in, being genuine and real is what my blog is based on. I’ve turned down very well paid programs due to not feeling in-tune with the message or product.”
In an attempt to boost their credibility, influencers are using things like media kits, links to social channels and screenshots of Google Analytics to justify compensation from brands.
But those poor little influencers told the survey they don’t feel like other marketers appreciate their service, with almost half responding ‘no’ to the question of if they feel valued and compensated.
However, it doesn’t seem to have affected their egos too much…
“As influencers, we can’t forget that we are a gold mine to companies because of our targeted audience who trusts and values our advice,” Primally Inspired’s Kelly Winters said.
“We deserve to get paid very well for all the hard work that went into creating our brand trust and loyalty.”
Another influencer Dawn Sandomeno added, “I believe that you can strike the right balance between authenticity and making money from posts, if you create content that has as much value for your reader as it does for your bank account. When one is greater than the other the model falls apart.”
Influencers surveyed by GroupHigh said when it comes to compensation for posts about brands or products, money remains king. Almost 70 per cent said monetary reward is expected for their services, 11 per cent want free products, and around four per cent prefer either an affiliate partnership or ads on the blog.