The Untapped Potential of Social Media Influencers and Why You Should Look Into It [infographic]

Social media and content marketing is pretty much just how things are done these days. If you have a product or a service that you are trying to promote on the Internet, these are the two most effective avenues for you to look into. A sort of amalgamation of these too is having an influencer market your products. Influencers are basically charismatic personalities that have large followings on social media. You can hire them to review or sample your products, or you can just pay them to market the positive aspects of the products that you are selling.

Hiring an influencer can be tricky business. This is because of the fact that you often don’t really know what you’re buying, the things that influencers do are difficult to describe sometimes even though it is clear how effective they are at bringing you the right kind of traffic. The infographic below, create by Aspireiq, will tell you how much influencers are going to cost. This will help you make sure that you always end up getting your money’s worth when you are paying an influencer to market a specific product, service or some kind of content that you offer.
Related: 12 Best Tools for Hassle-Free Influencer Outreach
For companies that are new to influencer marketing, it can be intimidating trying to find out how to begin. Who are the right influencers to approach? How do I find them? And perhaps most commonly, how much should I pay them. As a starting point, Aspireiq has collected data from thousands of influencer collaborations to provide brands with key points to consider when determining how much they should spend on partnership with social media influencers.

Key takeaways from above visual:

A post with 1000 likes on Instagram would cost $140 on average.

A mention in a YouTube video can cost $40 / 1000 views.

You rarely see influencers have their largest following on Facebook, Twitter and Pinterest. Usually, influencers will charge a small fee, ranging from $50 - $100, for social implications on these platforms.

Micro-influencers, those with between 10,000 and 150,0000 followers, come at a modest price while still giving your brand exposure to a highly engaged audience, they have an average of 2.9 percent engagement rate.

Influencers with an audience greater than 1,000,000 generally have engagement rates ranging from 1.5 percent to 1 percent.

Read Next: Marketing Hacks - Using Influencer Generated Content to its Fullest Potential (infographic)
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