Influencer Marketing Costs 2024: Influencer Rates per Channel

Long before it was dubbed “influencer marketing,” consumers looked to celebrities and public figures for inspiration. Today, the practice is widely embraced by brands of all sizes, especially as it has become more affordable for smaller companies with smaller budgets. No longer limited to celebrities, influencer pricing spans a wide range depending on the channel, audience size, engagement rate, and other factors.

So, how much does influencer marketing cost in 2024? Let’s break it down by channel.

Table of Contents

• How Much Does Influencer Marketing Cost?

• What to Consider When Researching Influencer Rates

• Instagram Influencer Pricing

• YouTube Influencer Rates

• TikTok Influencer Pricing

• Facebook Influencer Marketing Rates

• Snapchat Influencer Marketing Rates

• Twitter Influencer Rates

• Payment Options for Influencers

• Choosing the Right Influencers for Your Strategy

Tip: Download our free influencer rate card and be aware of the influencer pay gap.

How Much Does Influencer Marketing Cost?

The cost of influencer marketing is an ever-changing landscape, and pricing will continue to change as the perceived value of influencer marketing continues to increase.

For example, in 2021, our State of Influencer Marketing report revealed that sponsored Instagram feed posts increased by 26.7% and sponsored Stories had increased by 33.5%.

See the updated State of Influencer Marketing Report (2023)!

Today, most marketing teams say that they have a dedicated budget allocated for influencer marketing. More than 11% of marketers say they spend more than $500K on influencer marketing. A larger percentage still devote significant funds toward this marketing channel: 22% say they spend between $10K-$50K.

What to Consider When Researching Influencer Rates

The type of influencer you’re working with will greatly impact the kinds of rates you see, but don't let this deter you. While celebrity influencers charge more than nano-influencers or micro-influencers, it’s actually the micro-influencers who are driving growth across the industry.

Another factor to consider is the type of content an influencer is producing for your brand. It takes significantly less work to post a photo on social media than it does to write a long-form blog post or create a product review video.

The type of content produced will be largely driven by the social media platform you choose. Take advantage of unique social media features on each platform, such as Instagram Reels, Instagram Stories, and the exclusivity of original sounds on TikTok.

To gain a better grasp of the cost of influencer marketing, it’s helpful to look at channel and influencer type simultaneously.

Instagram Influencer Pricing

Considered by some as the “OG” channel for influencer marketing, Instagram remains a hotspot for brands aiming to get their products in front of engaged audiences. Out of more than 2 billion Instagram users, 90% of them follow at least one brand on the platform. It’s also a platform where ads are welcomed by users: 70% of users say they like or don’t mind viewing advertisements while engaging with Instagram content.

Tip: Learn How to Use Instagram Ads

As for Instagram influencer rates, a single post can cost anywhere from $10 (nano-influencers) to $10K+ (mega & celebrity influencers). 

For Instagram Stories, expect to pay anywhere between $53 to $1,205.

Here’s a visual breakdown of Instagram influencer pricing based on feature and level of influence. (Source: Influencer Marketing Hub)

According to our 2022 State of Influencer Marketing report, 53% of brands using Instagram run campaigns via the Instagram Story feature. Most campaigns also include one to four Instagram posts in the feed.

With this in mind, a low-end campaign budget using a nano-influencer averages about $313 for four in-feed posts and one Instagram Story. Using micro-influencers, expect to pay about $780 for the same amount of content.

For further pricing model details, Klear has an excellent Instagram influencer pricing calculator that calculates costs based on specific influencers.

YouTube Influencer Rates

About 32% of influencer campaigns include YouTube, according to the State of Influencer Marketing report. This is the platform where many influencers started their journey.

Although Shorts on YouTube are gaining steam, this platform remains ideal for long-form content. Many brands post on more than one platform, and YouTube’s video-only approach makes it a viable choice for multimedia engagement. However, because of the time and resources it takes a YouTuber to create video content, brands should note that YouTube is one of the more expensive influencer marketing channels.

Based on YouTube audience size, brands can expect to pay an average of...

(Source: Influencer Marketing Hub)

Tip: Take a look at The 20 Biggest Australian YouTubers

TikTok Influencer Pricing

TikTok has surpassed YouTube when it comes to video influencer content. About 13% of brands use the short-form video platform as part of their influencer marketing campaign. TikTok has seemingly infinite niche audiences to tap into, allowing brands and influencers plenty of creative freedom for content creation.

The app is gaining steam. In 2022, TikTok was the most downloaded app worldwide, earning 672 million new downloads. The app has given rise to a new era of influencer marketing, particularly in terms of content that can’t be recreated on any other platform.

• Nano influencers on TikTok charge between $5-$25
• The price for micro influencers on TikTok is between $25-$125, while influencers with larger followings (but not quite Mega) are between $125-$1.2K
• Macro influencers have a price of $1.2K-$2.5K
• Mega influencers on TikTok charge 2.5K or more

Source: Influencer Marketing Hub

In terms of TikTok influencer pricing, similar rules apply based on audience size. Data shared by Business of Apps estimates that nano-influencers earn between $5 and $25 per post, while micro-influencers charge $25 to $125 per post. Mega-influencers are charging upwards of $2,500 per post.

Facebook Influencer Marketing Rates

• The average cost of a Facebook post from a nano-influencer: $25-$250
• The average cost of a Facebook post from a micro-influencer: $250-$1,250
• The average cost of a Facebook post from a mega-influencer: $25,000

(Source: Influencer Marketing Hub)

Category also affects the cost of influencer marketing on Facebook. Lifestyle and food posts tend to be the most expensive.

Tip: Take a look at the best global food influencers to inspire you.

Snapchat Influencer Marketing Rates

Snapchat continues to play a role in influencer marketing despite its slowdown in growth. It wasn’t until recently that follower count on Snapchat was made public. Before that, marketers used reach and views as a means of influencer marketing measurement.

Using views is still a preferred way to pay for Snapchat influencer marketing. Here’s a breakdown of view-based pricing from Business of Apps:

View-Based Snapchat Influencer Pricing

Now that follower count is available, marketing professionals can use the following breakdown from Buffer to estimate marketing costs:

Snapchat Macro Influencer Pricing

Snapchat Micro Influencer Pricing

Broken down by followers, brands are paying an average of $2 to get in front of 1,000 followers when working with micro-influencers.

Twitter Influencer Rates

Twitter doesn’t claim the same amount of excitement when it comes to marketing with influencers, and that remains the same in 2023 after rebranding it as "X". However, it is still an option for the right brand working with the right influencer. 

The audience here has historically been highly engaged, but brands should be aware of the shifting audience demographics and stay up-to-date on Twitter stats since the platform's rebrand.

According to WebFX data (link above), brands typically pay $2 per Tweet from an influencer with ~1,000 followers or as much as $2,000 per Tweet from influencers with a million followers.

Payment Options for Influencers

Payment terms may impact influencer rates. Some influencers work for a fee, while others are happy to post content in exchange for free products. There are multiple payment options based on your campaign type, such as:

• Pay-per-click
• Pay-per-post
• Pay-per-acquisition
• Performance-based payment (such as affiliate marketing coupon codes, clicks, or redemptions)
• Pay per new subscriber

The industry also influences cost. Posts related to travel tend to command the highest price, as production costs tend to be higher. Of course, all brands should approach the true cost of influencer marketing on a case-by-case basis and take into account their unique needs and variables.

Choosing the Right Influencers for Your Strategy

Clearly, there is no single influencer marketing cost that brands can rely on without doing a bit of research. Influencer pricing is subject to change based on follower count, subscriber growth, type of deliverable, target demographic, and myriad other factors. There are also additional costs involved should you choose to use an influencer marketing agency to find influencer partnerships.

Using an Influencer rates calculator is a great way to go into influencer negotiations with an informed mindset. However, consider these estimates as starting points as you explore the value an influencer can bring to your brand.

Meltwater’s all-in-one Social Influencers suite helps you manage the influencer marketing process from end to end. From setting up contracts to making payouts, you can gain a bird’s-eye view of your entire strategy. You can also manage non-monetary processes, such as sharing your company's privacy policy, non-compete agreements, target audience information, advertising guidelines, and more.

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