We’ve all heard all those crazy stories about people making money on Instagram. But there are many fakers out there promising that you too can make millions of dollars for posting to Instagram. It’s not that easy. In order to truly make money from Instagram sponsorships and become a successful Instagram influencer, you need to have a robust account with targeted followers that convert.
You’ve probably been asking yourself “how much should i charge for a sponsored post?” Before we tell you how much you can charge as a social media influencer (and really – you can charge whatever you want….whether you get it or not, that’s another thing), take a few seconds to read through to see if you truly are one (and always – ALWAYS make sure that you follow the law and Instagram TOS. The last thing you want is to end up in legal proceedings because you did not disclose an advertiser relationship).
Traits of a True Social Media Influencer
A high instagram following means nothing. Yup – you heard me – NOTHING! “Influencers” can easily purchase Instagram followers for a mere $5. These followers will most likely be fake, they won’t engage, and they certainly won’t add value to your sponsors. Instead, you need to concentrate on engagement. If your engagement is high and continuously increases, then you have a chance to charge a higher dollar amount.
How do you measure Instagram engagement?
We’ve got a nifty little piece that teaches you how to measure Instagram analytics. But here’s the formula in case you need that quickly. A good engagement rate is about 3%, so anything above that means you are a solid Instagram influencer.
((likes + comments)/followers )100 or (418/7000)100 = 5.97%
So, if you have 7000 followers and your last picture got 400 likes and 18 comments the formula would look like this. That means your engagement rate is 6% and you are doing well.
I said above that the number of followers does not matter, but I added a caveat…if they don’t convert. If you’ve been working your account and increasing your engagement rate, now you’re ready to worry about numbers. Why? Because the more followers you have, the more people you can influence. You’re probably not going to attract sponsors if you have a mere 100 followers. But once you start getting to 50,000, you can charge some serious bucks.
A Strong Bio with a Clear Call to Action
You can’t ignore your bio. This is pretty much the first thing people will notice when they browse your profile. Is it professional? Do you clearly communicate what your brand is all about? Do you have a clear call to action letting your audience know exactly what you want from them? Then you’re doing well. Your sponsor will want to see that you are goal minded, and that you are not afraid to ask your audience to click over or perform the desired action of your sponsor.
A true influencer is active on a consisten basis. This ascertains that the level of engagement stays high, and that his/her audience can convert. This can be easily achieved by using a Social Media scheduling dashboard like Socialdraft.
What Can An Instagram Influencer Charge For?
New Video is live! (Link in bio)! I’m showing you how to perfect a messy just out of bed hairstyle. Check the video description box for a @walgreens coupon so you can get your hands on the @axe products I used for the look! #FindYourMagic #Walgreens #Spon #menshairstyle #menshair
This is when you craft an image post and include your sponsor’s @handle in the write up. What’s great about these is that you can choose your image (so that you keep the aesthetics of your brand intact). The best way to do this is to craft an image that is relevant to your sponsor and include their handle on the top of the write up so that they are above the fold and get good visibility and click thru. Include a call to action for your audience to check them out. Note the #Spon hashtag that lets you know this is a sponsored post. How Much Can You Charge Per Shoutout Captions 800k+ followers = $80 300k+ followers = $30 150k+ followers = $15 50k+ followers = $5 Picture & Caption Sponsorships
Wearing my Gioia Fascia bra from @intimissimiofficial ? that pushup tho – I have boobs! Gotta love it! #ThePerfectBra #Intimissimi #ad A photo posted by Angelica Blick (@angelicablick) on
Your sponsor chooses the image and write up that you are going to post to your account. If you choose to opt for this type of sponsorship, you may need to discuss the aesthetics of your brand, this way the image does not affect your aesthetic. The above example is a perfect one for this type of sponsorship. Angelica has maintained her aesthetic while seamlessly integrating her sponsor. The engagement is very nice (21k+ likes, 116 comments), and she has disclosed that this is an ad. Since you are basically selling them your Instagram real estate, you will be able to charge more for this type of sponsorship.
800k+ followers = $160
250k+ followers = $60
150k+ followers = $30
50k+ followers = $10
This is when you screencap the account’s home page and post this to your account. It gives your audience a feel for their aesthetic and ideally gives them a reason to follow your sponsor. While this allows you to charge more, it will affect the look of your account, so most screen sponsorships are temporary (meaning you delete them within a day or a few hours). You can charge more to leave it up longer (a day, a week) or to leave it up indefinitely.
800k+ followers = $250 1/2 day
250k+ followers = $80
150k+ followers = $40
50k+ followers = $30
The only place where a link can be added on Instagram is your bio. This makes bio links incredibly powerful. If your sponsor wants this type of ad unit, then you’re in luck….but vet your sponsor first. The last thing you want is for your link to lead to spam sites, viruses, or something that is completely unrelated to your brand. This link is really good for people and businesses who are selling a product. This type of ad is not permanent, so you can charge according to the duration of time you keep the link up on your profile.
800k+ followers = $120 1/2 day
250k+ followers = $50/day
150k+ followers = $25/day
50k+ followers = $10/day
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This one is the best when it comes to you making money…and you really don’t need a sponsor if you are signed up to affiliates yourself. Just make sure that you disclose that you are sharing an affiliate link so that you comply with FTC rules. For this type of sponsorship, you can create an entire package – mostly because you want to convert your users in to an action (a buy). So you should be combining your images, captions, bio and link in order to get the click thru and the conversion. How much you make is up to the affiliate you’ve chosen and how many people click through and purchase. While this is quite rewarding, it’s also hard and requires a lot of planning.
Remember that these are just guidelines. You may get a lot more or a lot less depending on the advertiser or sponsor, and depending on how much you are willing to do for them. The big key is how you measure your results (and we’ve got a complete guide for you here).
Where to Sign Up For Instagram Influencer Campaigns
There are sites out there that sign up Instagram influencers so that they can more easily connect with brands looking to capitalize on their influence. If you do this, you won’t have to worry about how much to charge for Instagram sponsorships. They will do it for you, but will take a cut of your profits. This may be ok if you don’t have the time to manage and bill your sponsors. A few sites that can help you with this are:
How to Manage Your Instagram Accounts
Socialdraft is an all-in-one Social Media Dashboard that helps you manage Instagram. It is the most robust and simple tool for agencies and teams to effectively handle social media. With Socialdraft you can:
Schedule posts to Facebook pages, Twitter, Instagram, LinkedIn Business Pages (and one LinkedIn account) and Pinterest Boards
Schedule posts individually, as recurring posts, or bulk upload them as CSV
Easily re-schedule with a drag & drop action
Schedule GIFs to Facebook and Twitter
Download content calendars as PDF
Find content on Instagram and easily schedule reposts not just to Instagram but to all other social networks
Engage on Twitter, Facebook, and Linkedin
Download Facebook and Twitter reports
and tons more…
If you are curious about Socialdraft, take it for a risk-free trial. You’ll get to try out all the features and decide if Socialdraft is right for you.