The Instagram Pricing Calculator on the platform will help you develop a fair pricing strategy based on your actual performance, and your target CPM range (Cost per Mille, i.e. cost per 1000 impressions).
To access the Instagram Pricing Calculator, click My Pricing in the sidebar menu.
Here’s how the Calculator works:
To generate an Instagram Calculator Price using data pulled from Instagram, make sure your Instagram channel is connected to your inzpire.me profile, and is up to date. If you’re required to reconnect your channel, you can use the Reconnect button.
Enter the number of Instagram posts and/or stories you’d like to price.
If required, enter your own target CPM range, or use the slider to adjust the target CPM range. A target CPM range of €25 - €30 (or equivalent in your display currency) is set by default, since it is the average CPM for collaborations on inzpire.me.
Your Instagram Calculator Price, along with some key performance metrics will be calculated on the right-hand side!
How the Instagram Calculator Prices are generated
To generate the Instagram Calculator Prices, we use a CPM based model that takes your estimated performance into account, as well as your target CPM range. If you’ve connected your Instagram account, we’ll use first-party Instagram performance data to estimate the total impressions you’re expected to generate for the collaboration.
If you haven’t connected your Instagram account, we don’t have access to this first-party data. Instead, we estimate the total impressions you’re expected to generate based on our benchmark estimates.
Selecting your target CPM range
CPM (Cost per Mille) is a measurement used by marketers to measure and compare the cost of different marketing campaigns, including influencer marketing. It measures the cost per 1,000 impressions, i.e. how much it costs for a piece of content to be viewed 1,000 times.
The target CPM range on the Instagram Pricing Calculator determines how expensive your collaboration will cost, compared to other creator collaborations. The higher the CPM is, the more expensive the collaboration is.
By default, the target CPM range is set to €25 - €30 (or equivalent in your display currency), the average cost per 1,000 impressions for collaborations run through the inzpire.me platform.
If you set your CPM to above €30, the Instagram Calculator Price will be higher when compared to the average cost of collaborations through the inzpire.me collaborations. Below €25, and the price will be below the average cost.
Hover over the info icons in the on-platform Instagram pricing calculator to learn more about the different CPM ranges for collaborations run through the inzpire.me platform.
The target CPM range you choose for a specific collaboration will depend on a number of factors, including;
Your unique qualities, such as content quality, your audience demographics, the level of influence you have, etc.
Collaboration considerations, such as the relative effort of the collaboration, the brand reputation, etc.
When adjusting your target CPM range, consider how your unique qualities compare to other creators on the platform. We recommend you balance this with keeping your fees competitive. It’s important to brands that they offer you a fair price, but if they can collaborate with a creator very similar to yourself for less - they will!
What’s the difference between the Instagram Pricing Calculator on the platform and on your webpage?
Here’s an overview of the main differences and similarities between the Instagram Pricing Calculator on our platform, and the Instagram Pricing Calculator on our webpage:
Both calculators use a CPM based model.
The Calculator on the webpage is available to everyone. You must be registered with inzpire.me to access the Calculator on the platform.
The Calculator on the webpage only uses our benchmarks to estimate your performance. The Calculator on the platform can use first-party Instagram data to estimate your performance, when available. That’s why the Calculator on the platform estimates your performance and calculates prices more accurately.
You can price any creator with an Instagram Business/Creator account using the Calculator on the webpage. You can only price yourself with first-party Instagram data using the Calculator on the platform.
Only the Instagram Pricing Calculator on the platform allows you to adjust your target CPM range. The Calculator on the webpage uses a set CPM range of €25 - €30 (or equivalent in the selected currency)
It’s important to note that the Instagram Calculator Price should be used as a guide. The Instagram Pricing Calculator was designed to give you a good starting point to help you understand and justify your pricing strategy. The price you ultimately offer and agree on with a brand will come down to more than just your target CPM, and your estimated performance.