What should I charge?
One of the hardest decisions for any entrepreneur is determining the cost of their services, and this is no different for content creators. While there is an average range based on follower size, there are still wide disparities between two creators with the same following.
It’s important to have a set starting price for their posts, stories, blogs, etc., but the ultimate price is always negotiated on a per campaign basis as there are so many variables.
– Length of campaign (longer campaigns come with a discount)
– Deliverables required
– Timeline (premium is often charged for rush content)
– Gifted product value (or your desire for it)
– Affiliate pay / commission being offered
When deciding your price for each campaign, you should keep this formula as a starting point – $200 per post and $150 per story (or story set) for every 10k followers.
So if you have 5k followers your base rates would be $100 per post and $75 per story set.
If you have 20k followers your base rates would be $400 per post and $300 per story set.
Increasing your rate if you have really good engagement or you know you drive sales for your collaborations (and can show proof to the brand) is also acceptable.
Keep in mind the following factors which change from campaign to campaign:
– Props you would need to purchase
– Cost of shooting location if other than your home
– Amount of time editing
– Cost of professional photographer if you require one
– Exclusivity if requested by the brand
A word about exclusivity – some brands ask for exclusivity especially if they are in a category where it would be hard for the creator to authentically to promote two brands simultaneously (kitchen appliances or breast pump for ex.).
However, this is a cost that can also be prohibitive at times to smaller brands who have limited marketing budgets. If you enjoy working with a brand or really like what they are all about, honouring exclusivity even if they aren’t paying you for it not only helps your relationship with them but it provides a greater sense of authenticity to your audience.
There are cases, for example with beauty products or food items where it is very common to use more than one brand, that exclusivity should be something you are paid for if the brand is adamant.
You don’t want to lose out on brand deals while not being paid for exclusivity but you also want to show the brands you are currently working with that you value the relationship. It’s a fine line and one that should be based on each particular situation.