As a content creator, one of your biggest challenges may be setting the right fee for your Instagram collaborations. How much should you ask for? What’s a fair fee? What factors should you take into consideration?
Our newly released Instagram Pricing Calculator will provide you with a starting price range, which are based on your performance in engagement and reach. From there, you’ll be able to adjust the calculated fees by taking into account other relevant factors, such as content quality and campaign deadlines.
How does the Instagram Pricing Calculator work?
Our Instagram Pricing Calculator takes your engagements, impressions, cost per 1,000 impressions (CPM), and cost per engagement (CPE) into account in order to calculate your starting price range.
Using our Pricing Calculator is a simple 2-step process. You can find the Calculator here.
Fill in your Instagram handle and the number of Instagram posts and stories the brand is asking for. Then, click Calculate.
You’ll be provided with the following information:
– Estimated price range: This is the price range you can charge for a collaboration. Depending on different collaboration factors, you can set varying fees within the range provided.
– Estimated reach, post impressions, and story impressions: These numbers are your estimated results for a collaboration. This provides you and the brand an idea of what results you can achieve.
– Engagement rate vs. Benchmark: This compares your average engagement rate to our benchmark estimates. Our benchmark estimates are based on over 2,000 recent inzpire.me collaborations, and it gives you and brands an idea of what engagement rates you should have for your follower size.
What other collaboration factors can I take into account?
Once you’ve calculated your starting price range, you can adjust your price by taking other relevant factors into account. You should determine whether to ask for a price at the lower or higher end of the starting price range by asking yourself:
- Are the demands of the collaboration high?
- How much can I contribute to the brand’s collaboration goals?
If the collaboration is not demanding, or if you’re unable to contribute greatly to the brand’s goals, consider asking for a price at the lower end of your starting price range. But if the demands are high, and you’re able to bring value to the collaboration, then consider asking for a price at the higher end of your starting price range.
Here are some relevant factors you should consider:
Brand’s collaboration goals:
- Content quality: If a brand wants to generate content to reuse, content quality will be important to them. Your photos and videos should be: (1) clear and well-composed, (2) eye-catching and creative, and (3) optimized for the platform it’s on.
- Audience demographics: A brand may want to target a specific audience in their campaign. It would be a big asset if the majority of your followers are, for example, located in a country they want to reach.
- Reliability: In order for collaborations to run smoothly, brands want to work with creators they can rely on. They’ll be looking for positive reviews and recommendations on your inzpire.me profile from brands you’ve previously collaborated with.
- Brand fit: To ensure sponsored posts resonate well with your followers, brands want to work with creators who fit their image. They’ll look at the type of posts you typically publish, your category, and your personality traits analysis on inzpire.me to determine whether you’re compatible with their brand.
- Production costs: You should consider whether you’ll need to travel or hire a photographer to create content for the collaboration.
- Time constraints: If you have many collaborations already scheduled, you might have to shuffle your other tasks around to make time for the collaboration.
- Deadlines: If the brand sends you a collaboration request with a tight deadline, you may have to work quickly and prioritize the collaboration.
- Full content usage rights: The brand may want to reuse the content you produce in ads, websites, and more.
- Exclusivity: The brand may request that you avoid working with any competitors for a specified amount of time after the collaboration is over.
- Campaign complexity: The collaboration may have logistical matters to consider, such as picking up or purchasing brand products.
- Influence: The brand might want to collaborate with you if you have a great connection, and thus influence, over your followers.
Why don’t you price based on follower size?
Using follower size to determine your collaboration fee is unfair to brands. As we’ve learned in our Instagram Benchmarks Report 2019, creators reach a smaller proportion of their followers when it increases in size. If you’re a creator with a larger following, and you base your fee on follower size, you’ll overcharge brands for followers you’ll never reach.