You’re really excited that brands want to work with you, but have no idea what to charge. Sound like you? Keep reading for some guidelines on how much your services are worth.
It Depends
The first thing to understand is that there are no hard and fast rules for what to charge companies. It depends on a lot of different factors. For example, bigger companies are going to have bigger budgets for influencer marketing. A local mom-and-pop store might not have a budget at all and is likely to offer you compensation only in product. Before accepting product-only compensation, consider whether there is a greater benefit besides money. Maybe the company has an audience you’d like to reach. Instead of compensation, you can insist that the company cross promotes your blog post on their social media.
General Guideline
I’ve heard and read that a fair price to charge for a sponsored post is $100 for every 10,000 page views (per month). Similarly, you can charge $100 per Instagram post for every 10,000 followers.
Also Consider
Also consider the value of your time. If you were working at a traditional job, would you want to be paid $10 an hour? $20? You can use this as a guideline depending on how long the project will take. In addition, consider all of your other expenses. Do you pay for a photographer? I always include a Dropbox of professional quality images with all of my posts and I make sure to mention that to companies as it’s a major added value for brands.
Negotiate
Prices are always open to negotiation. I recommend that your opening offer be high so there’s room to negotiate down. If the brand throws out the first offer, make a counter and back it up with why you’re worth more money (social media followers, email subscribers, professional photos, etc.).
List Prices in Your Media Kit
You want to appear as though you’ve worked with brands before, even if you haven’t. The last page in my media kit is titled ‘Next Steps’ and includes services that I offer (outfit post, product review, social media posts, etc.) along with each of their prices. I also have bundled rates for brands that want multiple posts. You can also note that these prices are open to negotiation. (More on media kits here)
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