This is the second post of the series for Social Media Influencer 101. If you are interested in becoming a Social media influencer, or just in general are curious about how this industry works, this series will help you to understand social media influencer better. I suggest you read the first one Understanding Engagement Rate before you read this one to get a systemic view of it.
Since I started to mentor others about how to grow their Instagram account, I have heard the same concern over and over. I DON’T HAVE ENOUGH FOLLOWERS! In today’s social media world, you don’t have to have a million followers to be an influencer. At this moment, if you have 1000 followers on Instagram, you can be an influencer. You may think, what?! Only 1000? Yup! You hear me right, but you must have very high engagement rate like at least 10%. Those influencers are called Micro Influencers.
An Instagram account has less than 10k followers, usually called Micro-influencer. They are those folks who have a deeply engaged, niche audience and they do offer opinions that are deeply trusted by their followers, who are generally like-minded folks looking for real talk. So basically, you can think of micro influencers are ‘normal’ people just like us but already build a small tribe online.
The Pros of Being a Micro Influencers
Micro influencers work in a similar way to word of mouth. Since there was no brand would work with them at the very beginning, so everything they have talked about are paid by their own hard earn money. People love to hear the real reviews from a real user. Because the authentic content they keep putting out there, they have earned deep trust from their followers too.
They usually have a high engagement
Since they have a quite small fan base so they physically are able to have very timely and deep conversation with everyone has liked or commented on their posts. You often see super long and meaningful comments under their post and conversations back and forth. The most crazy part is, sometimes they got more comments than likes on a post. You will almost never see this happening on an account has more than 10k followers.
They are mini converting machines
More and more smaller brands started to realized how powerful those small accounts can be. One post maybe only received 200 likes but there are almost 180 comments. Among those comments there are a lot of questions about the product or service and the end result is maybe 20 of them have decided to buy it. Again, if you don’t have this type of engagement, you will have a hard time to promote anything.
The average price for a micro influencer
Now, you may think, ok, it all sounds pretty good. I will start to build my engagement. But how much am I looking for making after I reach the high engagement rate?
On average, a micro influencer costs from $25 to $180 per post on Instagram. Below are some easy online calculators to use for your reference. I used my account as an example, they are all different numbers but at least give you a range to consider.
Based on this one, my Estimated Earnings Per Post is from $399 to $655.
Based on this one, I can charge $418 per post.
Based on this one, I can charge $747.58.
Again, you have the final say about how much you feel comfortable to charge based on the type of work and how much time you have to put into.
Now you know you need to build high engagement rate and how much you can charge for each post. Come back to read more later about the tips of working with brands.
Photo credit: Grace Liang
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