Are you unsure how to price your work as an influencer? You’re not alone. According to SevenSix Agency‘s latest report, Lifting The Lid: The Influencer Pricing Report 2021, 78% of influencers who responded said they don’t (or only sometimes) feel confident in pricing themselves.
This survey result is nothing new. The influencer marketing industry is still incredibly new, and there is no real pricing standard (yet). Working with influencers was once even referred to as “the wild west of marketing” during a meeting of mine!
So, as a quick introduction to better pricing yourself, I invite you to have a read through this post, download the report, and set about rejigging your rates…
Influencer Pricing Made Clear
Late last year, SevenSix Agency conducted an industry-wide survey into influencer pricing, collecting data from over 275 influencers, brands and agencies in the UK and beyond. Ethical Influencers supported this survey by sharing it with the community, and then hosting a webinar with SevenSix’s Founder, Charlotte Williams.
In the report, Charlotte and her team uncovered a number of unfortunate realities about the influencer marketing industry, specifically pertaining to the lack of pricing standards which in many cases led to payment disparities. And not only that – pricing disparities were often linked to ethnicity and race.
Within the report, there were two key areas that really jumped out at me: first, the fees that brands and agencies expected to pay were almost consistently higher than what influencers charge, and; that an influencer pricing standard is possible!
What Are You Worth?
So, over to you – what are you charging? And how does it compare to what is outlined in the report?
While Ethical Influencers doesn’t manage influencer budgets on a regular basis, the scale outlined in the report has definitely provided a helpful guideline of what to expect as influencers working in this space.
And, as Charlotte shared in our recent meet-up: it’s important to also know the value of the content you’re creating, alongside the platform you have created for yourself, as well as knowing the kind of influence you have.
Do you have a loyal following, who will follow any brand you feature in your content? Or do you have a huge reach, providing incredible exposure for the organisations who work with you? Or do you have deep connections, enabling your followers to buy better and make sales with brands who work with you?
It’s worth knowing this, alongside the price to charge, when pitching to brands.
About Besma Whayeb
Besma Whayeb is the Founder of Ethical Influencers. As an ethical influencer herself, she created the platform to connect likeminded people spreading positivity across the internet.
Together, she believes we can all raise our profile and the causes that motivate us.