The most common question I get is: “how much should I charge for a sponsored Instagram post.” Does that sound familiar? I wish I could give a straight forward number that would make everyone’e life easy. But the truth is, there are many factors that go into setting your rate for sponsored Instagram posts. Years ago when I first started landing paid Instagram collaborations, I asked fellow Influencers what they charged. The answer I got was the 1% rule, $100 per 10K followers and that’s what I used to set my rate. It was not until Influencers and bloggers started talking about their rates openly did I understand how wrong I was! In this blog post, I share tips you should consider when setting your rate for paid Instagram posts.
“How Much Should I Charge For A Sponsored Instagram Post?”
Tips On Setting Your Best Rate For Sponsored Posts On Instagram
Set An Hourly Rate.
You should get into a habit of calculating the number of hours it will take you to complete a project. With this knowledge, you can determine how much to charge as an hourly rate. For example, it may take you 2 hours to create content ideas, shoot and edit photos or videos. Then 1 hour to write an Instagram caption, submit to the brand for edits and another hour to post and engage with your audience. That’s a total of 4 hours. If you accepted $100 for this project, then you will make $25 per hour. Everyone’s hourly rate may be different but most freelancers are charging much more than $25 per hour. And so can you! When setting your hourly rate, don’t forget to add on the time it takes to go back and forth with a brand to come to a contractual agreement. That is time you can be paid for.
Charge For How Your Content Will Be Used
How the brand plans to use your content is important to setting your rate. As an influencer, you can charge for usage rights, whitelisting and much more!
Add The Cost Of Props, Travel & Other Miscellaneous Items.
Along with charging for your labor and content usage, you need to add on the cost of props you may need to purchase, travel time and any other miscellaneous items. Did you have to hire a photographer? Did you have to pay for gas or tolls? Consider all these expenses when setting your rate.
Have A Quick Turn Around Time For Completing Deliverables? Charge More.
Does the brand want you to complete the project as soon as humanely possible? The faster the turn around time the more you can charge! As a reminder, you do not need to accept the time frame that is given to you by the brand. You can say no and set a time frame that works for you.
Decide When You Are Willing To Take A Pay Cut.
There are times when you may be willing to take a pay cut. Such as working for a rescue or nonprofit organization. Or signing a year long contract. Or Working with a dream brand. Decide when you’re willing to reduce your rates and stick with only those instances.
Charge More For Your Expertise & Uniqueness.
Charging more for your expertise should seem like a no-brainer to most people. But some don’t realize that they are an expert in their field because it comes easy. If you have taken courses or you have honed your craft through practice then you are an expert! You should also charge more for unique situations. For example, if a brand is looking for a dog that can do over 100 tricks and you have that type of dog then you should charge more for your dog’s unique ability.
Consider Charging Less If Your Main Goal Is To Gain Experience.
If you are just starting out as an Influencer or have not worked with many brands, then consider charging less to gain experience and build your portfolio.
Charge More For The Holiday Season.
There’s something about the holiday season that makes people wiling to spend more. Companies know this. As an influencer, you too can charge more!
Do Not Go With The 1% Rule AKA $100 per 10K Followers.
Every time I hear a person mention the 1% rule I cringe and want to correct them. Sure, if you are brand new to influencer marketing then start with 1% as your base pay. But DO NOT ONLY charge 1%. There is so much more that goes into setting your rate! Unsure how how much to charge for sponsored instagram post? My workbook “Roadmap To Landing More Brand Partnerships On Instagram” breaks it down for you with a rate formula. This way you will know exactly what you are worth without hesitation. Buy it here!
Negotiate and Ask For More Money.
It is always okay to negotiate and ask for more money. In fact, I almost always negotiate. Simply ask, “is there room in the budget” or “I charge X for this kind of work.” This way you will know you didn’t walk away leaving money on the table.
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