This is a three-part series taken from Babe Box’s recent workshop - Instagram Workshop: How to Book Collabs, Take Insta-Worthy Pictures and Get Paid.
With over 2 billion US dollars going into social media marketing, paid Instagram posts is trending in the marketing world right now. So, why not reach out and grab a piece of this delicious money pie?
Do influencers make money off every Instagram post? No. It could cramp their creativity with forced, paid posts. But if you put a lot of effort into building your Instagram empire, it’s totally okay to mix in sponsored Instagram posts every now and then.
I’ve been using this equation for Babe Box’s sponsored post and the price seems to be very fair. Cost per thousand (CPM) is a marketing term used to denote the price of 1,000 advertisement impressions on one webpage.
A good average CPM for a sponsored post is usually anywhere from $5-$10. $7 is a good place to start because it’s right in the middle. If you have really good engagement you could shoot for $10 CPM.
Math:
Take the number of your followers and divide it by 1,000
Multiply that number to the CPM you want to charge ($5-$10)
It could be a little nerve-wracking to send your price list to brands but what’s the worst that can happen if you give it a shot? If the brand reaches you to you first, it’s a little less awkward to pose the question “do you have a budget for something like this?” The worst they can say is no. Then it’s up to you whether or not you want to continue with this brand partnership. If it’s a brand you really love, or a product you’re personally curious about trying, I say go for it.
Posting non-sponsored posts are still great. Getting product to review/test still gives you great content, Plus, if it's product that you truly enjoyed, that's a win-win situation!
On the flip-side, you should never work with a brand solely because they pay well. This is a bit of an extreme example, but if you’re a beauty blogger and a fishing company reaches out wanting you to post about their new line of fishing poles and offers you a $10 CPM don’t do it. Always make sure that the brand fits you and your brand.
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