2024 Influencer Pricing Guide: Costs on TikTok, Instagram, YouTube

The cost of hiring influencers can vary widely, depending on multiple factors. If you’re trying to pinpoint an exact number for influencer pricing, you might feel like you’re navigating a labyrinth. However, there are industry benchmarks and research data that can help you make informed decisions when budgeting for influencer marketing.

Industry Benchmarks for Influencer Advertising

According to a 2024 Statista survey, 22.4% of marketing agencies and brands allocate 10 to 20% of their marketing budget to influencer marketing. Interestingly, 26% of brands are spending more than 40% of their budget on influencer advertising, reflecting a significant trend in digital marketing investment.

Understanding Influencer Budgets: The Numbers Behind the Spend

In 2024, Influencer Marketing Hub revealed that nearly half (47%) of brands spend less than $10K on influencer campaigns. However, some brands are spending anywhere between $11K and $500K. This shows the wide range of influencer marketing budgets, with some brands opting for top influencer agencies or large-scale influencer partnerships.

Factors Influencing Influencer Marketing Pricing

The cost of influencer marketing services depends on various factors, including:

• Social media platform: Different platforms have different pricing tiers for influencers.
• Influencer type: Influencers are categorized based on follower count, affecting the cost.
• Content format: Videos, images, and text posts have different price points.
• Engagement rate: Influencers with higher engagement typically charge more.

Top Social Media Platforms for Influencer Marketing

Based on The State of Influencer Marketing Benchmark Report 2024, here are the top platforms for influencer marketing:

1. TikTok – 68.8% of brands are using this platform for influencer collaborations.
2. Instagram – 46.7% of brands invest in influencer campaigns here.
3. YouTube – 33.1% of brands prefer YouTube influencer marketing.
4. Facebook – 27.5% of brands leverage Facebook influencer marketing.
5. X (formerly Twitter) – 9.9% of brands engage in influencer partnerships on this platform.

The data suggests YouTube is the most expensive platform, followed by Instagram and TikTok. The cost is often higher on these platforms due to the investment required for video production.

Influencer Types Based on Follower Count

The cost of an influencer also depends on their follower count. Here are the different influencer tiers:

• Nano Influencers (1K–10K followers): Lower cost, but higher engagement rates.
• Micro-Influencers (10K–100K followers): Effective for niche targeting campaigns.
• Macro-Influencers (1M–10M followers): High reach, but less personal engagement.
• Mega Influencers (10M+ followers): Broad reach but lower engagement rates.

Popular Influencer Partnership Types

Here are common types of influencer partnerships:

1. Sponsored Content: Influencers create posts about your brand, including text, visuals, videos, or podcasts.
2. Affiliate Marketing: Influencers promote your products and earn a commission on sales through unique affiliate links.
3. Product Seeding: Sending products to influencers for free in exchange for reviews.
4. Takeovers: Influencers take over your brand’s social media account for a specific period.
5. Events and Experiences: Hosting influencers at events or experiences to generate buzz.

What Does Influencer Pricing Look Like?

Here’s a breakdown of suggested influencer pricing based on platform and influencer type:

• Nano-Influencers:
  • TikTok: $5–$25 per post
  • Instagram: $10–$100 per post
  • YouTube: $20–$200 per video
  • Facebook: $25–$250 per post
  • X: $2–$20 per post
• Micro-Influencers:
  • TikTok: $25–$125 per post
  • Instagram: $100–$500 per post
  • YouTube: $200–$1,000 per video
  • Facebook: $250–$1,250 per post
  • X: $20–$100 per post
• Mid-Tier Influencers:
  • TikTok: $125–$1,250 per post
  • Instagram: $500–$5,000 per post
  • YouTube: $1,000–$10,000 per video
  • Facebook: $1,250–$12,500 per post
  • X: $100–$1,000 per post
• Macro-Influencers:
  • TikTok: $1,250–$2,500 per post
  • Instagram: $5,000–$10,000 per post
  • YouTube: $10,000–$20,000 per video
  • Facebook: $12,500–$25,000 per post
  • X: $1,000–$2,000 per post
• Mega Influencers:
  • TikTok: $2,500+ per post
  • Instagram: $10,000+ per post
  • YouTube: $20,000+ per video
  • Facebook: $25,000+ per post
  • X: $2,000+ per post

Conclusion: Setting Your Influencer Marketing Budget

When planning your influencer marketing strategy, keep in mind that influencer pricing varies based on multiple factors, including platform choice, influencer tier, and content type. By understanding these variables, you can choose the right influencer partnerships and set a reasonable budget for your influencer PR and online influencer marketing campaigns.