Knowing what to price creators can be tricky. You want to make sure creators are feeling valued, and are given a fair offer, but you also don't want to overprice your collaborations, and get a low return on investment.
There are 3 main things to consider when pricing a creator collaboration:
A creators price requirements: What is the creator is asking for? What are their expectations?
The average market rate: What are similar creators being paid? What is a typical CPM (Cost per 1000 impressions?)
Your campaign goals: Is the creator offering what I need? Will the value they deliver justify the cost?
A creators price requirements
You can view creators’ price ranges for different types of collaborations under the Pricing tab in their Creator Profiles.
To do this, first go to Discover Creators. Next, click View Profile next to the creator you're interested in collaborating with.
Under the creator’s profile you'll find the Pricing tab where you can view the creator’s collaboration options and pricing.
Instagram collaboration options
For Instagram, you'll have a few pricing options for different types of collaborations:
1 Instagram post: Creators create 1 standard post (photo and caption) for a flat fee.
1 Instagram story: Creators create 1 story (lasting a minimum of 15 seconds or 3 still images) for a flat fee.
1 Instagram reel: Creators create a video for 1 Instagram post (maximum 90 seconds and caption) for a flat fee.
1 Instagram carousel: Creators publish a series of 2 or more photos in 1 post (photo slideshow and caption) for a flat fee.
Instagram ambassadorship: Creators work with a you for a set period of time, publishing sponsored content on Instagram regularly.
Instagram package: Creators package various types of Instagram content (e.g. 2 posts and 2 stories) and offer this service for a reduced price.
If a creator hasn’t added Instagram pricing options yet, a price for 1 Instagram post is set for them automatically, based on our Instagram Pricing Calculator.
Collaboration options for other channels
Creators can also choose to add pricing for collaborations on other social media channels, including:
YouTube video: Creators create 1 video with a sponsored segment for a flat fee.
TikTok video: Creators create 1 video with a sponsored segment for a flat fee.
Snapchat collaboration: Creators publish 1 standard post (photo or video and caption) for a flat fee.
Facebook copy: Creators create 1 standard post (photo or video and caption) for a flat fee.
Podcast collaboration: Creators create 1 podcast with a sponsored segment for a flat fee.
Each collaboration option the creators add will have a price range next to it to indicate how much the creator expects to be paid for that type of collaboration.
👋 Note: The price ranges will be shown in the display currency that you selected.
The average market rate
Making an offer within the price range the creator is requesting will give you the best chance of them accepting your booking request. This saves you time, since you’re likely to onboard creators faster. You’ll also avoid leaving creators a bad impression of your brand because of low offers.
However, the price the creator is asking for is just one factor you should consider when making an offer. You should also understand what price would be considered the average market rate.
Our Instagram Pricing Calculator on platform is designed to give you a guide price based on the creators performance (i.e. the number of impressions we expect the creator to generate in your collaboration, using first party data), and the average CPM (cost per 1000 impressions) for influencer marketing collaborations on the platform.
This guide price is also useful in incidences where the creator might not have provided their desired price range. In this case, you can start by offering a price within the average CPM range, as a reasonable place to begin negotiations with the creator.
To understand how our Instagram Pricing Calculator works, click here.
To learn more about Instagram pricing strategy, click here.
👋 Note: We currently only have a pricing calculator for Instagram, but plan to develop similar tools for TikTok, YouTube, and Snapchat.
Your campaign goals
Knowing how much the creator wants to be paid, and understanding the average market rate are great first steps towards nailing your pricing strategy.
The final piece of the puzzle is evaluating a creators value with your specific campaign goals in mind. Creator Profiles allow you to assess whether the profile is going to be a great match for your brand, and are likely to deliver the on your campaigns goals (e.g. create quality content, reach your target audience, or generate sales). This part is highly subjective, and is down to you to decide based on the information you have, what fee would be most appropriate.
Once a creator receives your booking request, they’ll then evaluate whether the fee and collaboration terms are adequate. They will either accept, decline, or negotiate the budget that you’ve offered. You’ll receive a notification when the creator responds to your booking request.
Questions? Send us a message!