How much should I pay for a micro-influencer? This is a common question that every brand asks themselves before collaboration. 

Yes, micro-influencers are more cost-effective than macro and mega-influencers. But that doesn’t mean they come cheaper. Micro-influencer pricing depends on their influence, audience (demography), and more. And therefore the prices may vary. 

In this blog, we will help you understand how much do micro-influencers cost and what are the factors that affect them. 

Let’s start by understanding the different payment structures accepted by micro-influencers. 

7 Different Payment Structures Widely Accepted by Micro-Influencers

Influencers, in general, accept multiple or various payment structures, and it's the same with micro-influencers. The following are some of the most common payment methods or structures.

Payment Method 1 - Fixed Rate per Campaign

As the name indicates, here the micro-influencer will agree on a fixed rate for a specific task or campaign. The details of the fee will be agreed upon prior to the campaign, and will not change regardless of the campaign's performance.

Pros

• Easy budgeting with predictable cost

• Straightforward agreement without much complex analytic

• Clearly defined deliverables

Cons

• Have to pay in full even if the campaign underperforms

• Influencers may not be motivated as they are guaranteed pay

Payment Method 2 - Pay per Post (or Content)

Here, the payment will be based on the number of posts, stories, or any content pieces created. For example, a micro-influencer might charge a specific rate for an Instagram post or YouTube video.

Pros

• Clearly defined cost or payment

• Easy to scale up or down based on your budget

Cons

• Influencers might be more inclined to quantity over quality for more payment

• Pay irrespective of the post's performance

Payment Method 3 - Commission Based

Micro-influencers may charge based on the sales or leads generated through their promotions. The conversions are tracked through affiliate links or discount codes. The most common use case of this method is in eCommerce.

Pros

• Influencers are more motivated to bring in sign-ups

• You only need to pay for the results they bring in

Cons

• It might be hard to track and attribute exact sales or leads generation channels

• The price can fluctuate, making budgeting harder

Payment Method 4 - Product Exchange

This is a common payment structure followed by smaller businesses or newer influencers. Instead of monetary payment, micro-influencers will be happy with receiving free products.

Pros

• Very cost-effective as there's no financial outlay

• Influencers showcase products directly to their audience

Cons

• Not every micro-influencers might be interested in this type of payment

Helpful Read 💁: Product Seeding: What is it and why consider it? 

Payment Method 5 - Performance Based

Don't get this confused with commission-based. Here, the micro-influencers don't need to bring in sales or leads. They just need to show how engaging their content pieces are. The performance metrics include but are not limited to engagement rate, follower growth, and website visits.

Pros

• Payments are tied to measurable success

• Incentivizes micro-influencers to achieve specific metrics

Cons

• Might be complex to track and measure specific metrics

• Disagreements may arise on the metrics to track

Payment Method 6 - Monthly Retainer

It's like having a temporary employee for your brand. You can pay them on a monthly basis until you reach the campaign goal. The monthly task can include creating a set of posts and other promotional activities.

Pros

• Provides ongoing consistent promotions

• Encourages long-term relationship

Cons

• Requires long-term financial commitments

• Monthly payment irrespective of the campaign performance

Payment Method 7 - Revenue Sharing

Again, as the name indicates, a percentage of the revenue gained will be shared with the micro-influencer. This is highly common in cases of long-term partnerships.

Pros

• Beneficiary for both parties

• Only pay for the actual revenue generated

Cons

• It can be complicated to negotiate and track

• Unpredictable costs based on sales performance

Apart from the above seven, you could also try a mix of everything. But keep in mind that depending on certain factors this can vary widely. 

Now, let’s see how much do micro-influencers cost. 

Micro-Influencer Pricing: How Much Does It Cost

We will be sharing insights on how the charges range on different platforms for different aspects. But, please keep in mind that what we discuss here is a compilation of data from sources like Influencer Marketing Hub. The exact pricing could vary depending on certain factors, which we will be discussing further down the lane.

Now, we have discussed a lot of different payment methods. While we can't offer clear insight into all those methods, we can help you understand an idea of how pricing works.

So, with that in mind let's have a look at them.

Instagram Micro-Influencer Pricing

Instagram is one of the most influential platforms for influencer marketing. In general, an Instagram influencer with 10K followers can charge you $100 per post. But we are here for micro-influencers, so let's look at them.

Typical rates

• Per Post - $100 - $500

• Ig Stories - $50 - $1250

• Ig Reels - $100 - $7,000

The factors that affect the pricing are -

• Focused and engaged audience. The higher the engagement the higher the pricing.

• Post-frequency can be a factor. If you can negotiate for multiple posts, maybe you can lower the per-post rate.

• High-quality content requires significant production effort, resulting in higher fees.

• Agreements that restrict influencers from promoting competing brands may increase costs.

TikTok Micro-Influencer Pricing

Second only to Instagram, TikTok also provides a layout for brand promotions. Similar to Instagram, here also the micro-influencers have a follower range of 10K to 50K. So, what's the pay range like? let's have a look.

Typical rates

• Per Video: $25 - $125

What are the factors affecting here?

• Influencers who produce viral content may charge higher rates.

• Micro-influencers with niche expertise can demand higher rates (due to their targeted reach).

• High-quality and well-edited videos often justify higher fees.

• Higher engagement rates can lead to better promotional outcomes. Therefore, higher costs.

YouTube Micro-Influencer Pricing

YouTube Influencers or YouTubers are in high demand, especially vlogs on travel, food, and entertainment. Since YouTube videos retain viewer attention for a long time, the rates are higher than Insta and TikTok.

Typical Rates:

• Per Video: $200–$5,000

What are the factors influencing rates?

• Influencers may charge based on expected video views or engagement.

• Depending on the type of content the prices can vary.

• High-quality production and editing can increase costs.

• Channels with high engagement rates can command higher fees.

Now that you have understood the pricing range of micro-influencers on each platform, let’s see how you can find them. 

How to Find Micro-Influencers in Your Budget?

The budget is not the same for every business. Some might have it, some might not. This is why partnering with micro-influencers who fall within your budget is crucial.

However, finding the right micro-influencer within your budget can be challenging. However, it's not impossible.

Here are some steps you can consider to shortlist micro-influencers for your campaign.

Step 1 - Define Your Budget

How much are you willing to spend on influencer marketing? Defining this will help you down the lane to shortlist potential micro-influencers.

Step 2 - Use Micro-Influencer Platforms

There are many ways to go about finding micro-influencers. But, by far, the way is using micro-influencer platforms.

Use tools like impulze.ai for the purpose. It houses more than 250 million influencer databases and offers an AI algorithm to swiftly find influencers. The filter options on the tool can help further narrow down the micro-influencers based on -

1. Locality

2. Engagement rate

3. Posts per week

4. Niche & more

Take a look at the top micro-influencers in the US and get a sneak peek into the influencer data you can get with impulze.ai.

Step 3 - Analyze Micro-Influencer Metrics

Examine key metrics to ensure you're getting value for your money.

• A high engagement rate often means more interaction with the audience, providing better ROI.

• Match your budget with influencers' follower count using industry benchmarks (e.g., $100 per 10,000 followers on Instagram).

• Evaluate the performance of past sponsored posts to understand potential ROI.

Step 4 - Research and Shortlist

Look for micro-influencers with engaged audiences matching your target market. Also, see if there is niche relevance. Afterward, identify and shortlist all the potential candidates.

Step 5 - Check Authenticity

If you are using micro-influencer platforms like impulze.ai, you are safe. The tool will offer you insights into influencer metrics like follower growth, demographics, and more. This way, it will be easier for you to shorten the shortlisted lists.

What you need to look for in influencers are -

1. Steady growth in followers

2. Assess content quality

3. Percentage of fake followers

4. Accurate engagement rate

Once you have done with it, move on to the next one.

Step 6 - Request Rate Sheets and Case Studies

When you are contacting be straightforward about what you are expecting and your budget. Along with that request them to provide the rate they charge and the case studies that support their rates. This way, you will have a clear idea of whether to take on a micro-influencer or not.

With respect to the rate sheet, request them to provide rates for all different platforms (and posts).

Step 7 - Negotiate Terms

Now that you have all the info you need, use them to select the influencers.

Discuss the type of content you want, the time frame, and so on. Use your budget and the influencer metrics to negotiate for better rates. Finalize the type of payment as well.

Don't forget to get all these into the influencer contract. You can avoid a lot of confusion and back-and-forth conversations by signing the contract.

Et voila!

An example of this approach is as follows.

Imagine you own a coffee shop in LA with a marketing budget of $2,000. You want to partner with local micro-influencers to promote your new product line. Here’s how you can find influencers within your budget.

1. Your budget - $2000.

2. You used impulze.ai to find potential micro-influencers in LA with a niche audience.

3. You looked into influencer metrics and shortlisted relevant micro-influencers.

4. The influencer reports on impulze.ai provided insights into who all are authentic. you used the insight to choose the micro-influencers.

5. You contact these influencers to request their pricing sheets and case studies. One influencer charges $300 per Instagram post and provides a case study showing successful promotions for a similar business.

6. You negotiate a package deal with this influencer for five posts over a month, bringing the total to $1,500. You finalize the terms, ensuring everything is clear in the influencer contract.

And that’s it. Hope this was helpful. 

If you are finding trouble mustering email content to reach out to influencers, don’t panic. Here are some outreach email templates you can use. Simply copy-paste them, do the required customization to make it yours, and click send.