What is an Influencer Calculator?
An influencer calculator is a vital tool in influencer marketing for both a brand and an influencer.
An influencer rate calculator utilises a formula that is used to derive how much a brand gets charged for the influencer’s time, skills, expertise and audience (outreach). It depends on the interest around the post(s), how often you are posting and the sort of engagement you are having with your audience.
How is an influencer rate calculated?
Beyond the algorithm and formula, the variables the calculator takes into consideration are:
a)The size of your following
When influencer earnings are calculated at a higher estimate, it helps to have a high follower count. Size does not matter, but your follower count should be genuine (not having fake followers); brands will be drawn to you when they see a high follower count.
b)The quality of content you are producing
Ensure that the content you are posting is up-to-date.
A brand will reach out to you if they see that your aesthetic fits their aesthetic. It is for this reason that your Instagram page’s feed should match the potential audience and brands you are trying to attract.
c)The type of campaign
If a brand’s campaign is lengthy, then, irrespective of the influencer engagement rate calculator, it is at the discretion of the brand to decide the period that they will hire the influencer.
Websites that offer influencers marketing hub calculators include:
- Influencer Marketing Hub
- Inzpire Me
- Influencer Bay
- Ninja Outreach
- Feed Pixel
Why is the calculator important to consider?
Social media can be a quick and easy way of making money but it is not based on a vanity metric (as some people would like to believe). When an Instagram account is being run strategically for business (as opposed to pleasure), it will be evident through the account’s overall engagement metric.
The reason brands reach out to influencers in the first place is to push their goods and services to a different audience – the influencer’s audience – so if that audience is not ‘real’ then there is no point in spending that money on the influencer.
For the influencer, it is beneficial to work with a lot of brands as it encourages their own page’s growth; the more brands they work with the more work opportunities they receive and the higher their value on the influencer calculator becomes.
A big follower count and blue checkmark mean nothing if an influencer is not engaging with their audience (and vice versa) or if their followers have been bought. The brand has to ensure that the influencer is credible and make the brand’s money’s worth – if the influencer does not have an authentic reach, it is a waste of money for the brand.
Despite having an Instagram influencer calculator, it helps to have a predetermined rate or commission-based compensation.
Measuring the overall effectiveness of the calculator is not easy nor is it accurate; the calculator, without the use of a platform or agency, is the closest way a brand can tell an influencer’s engagement numbers.