Tech Company Tribe Reveals The Average Revenue of Influencers
We've all heard wild Instagram star success stories and by now, we know that being a social media influencer can actually turn out to be quite a lucrative career.
However, when it comes to estimating how much these influencers actually get paid- or even make per post- the details are a little bit fuzzier.
Luckily, Business Insider spoke with Lisa Targett, the UK general manager of Tribe, a tech company that "provides an online marketplace where brands can match their briefs with influencers", and she was able to shed some light on the issue.
What was most clear, was that everyone is different. "We have people on our platform that have 400,000 followers, and up to one million," she said. "It's different strokes for different folks. Some topics, like fitness, naturally appear to a bigger scale of audience, whereas vegan dog food isn’t for everyone."
However, Tribe does have a "rate card" which helps give a better idea of what different groups of influencers are earning.
The following are the company's ballpark figures of what influencers can charge per post based on their number of followers:
* 3-10K — £50-£100
* 10-25K — £100-£180
* 25K-50K — £180-£250
* 50K-100K — £250-£350
* 100K+ — £350+
Tribe does not usually work with Instagram Megastars with followers in the millions, but rather with "micro influencers" for the most part. These are defined as people with 3,000 to 10,000 followers on average, either on Facebook, Twitter or Instagram. However, these followers are usually more heavily concentrated on Instagram where the solely visual content is considered more "inspirational.
Tribe's top UK-based influencers make £110 per post and can earn up to £600 per week on the platform.
Targett makes the point that because these influencers have a smaller audience, the followers actually tend to have a more active engagement. She continues, "Now the metric brands should be looking at is the cost per engagement — the cost of the post divided by the number of comments, likes, and shares — because these days anyone can buy reach." According to Targett, anything under 30p is considered good from a cost per engagement perspective (the lower the better.)
Usually, tribe users have developed this engaged following by blogging about their passions and are careful to remain genuine, consistant, and not to upset their followers. Targett comments, ""Being authentic is their main asset," she said. "So if they're writing about something they love, other people will love it. And this is really 'word of mouth' gone global enabled by tech".
She explains that it can also help when influencers categorize themselves as "Lifestyle" or "Luxury" because it allows them to explore a wider range of content. Though many still choose to focus on a niche subject. "You don't need to have four to five million followers. This is another route for brands to try out ideas, talk to a niche, or to a different audience. It's quick and easy with a person with 10,000 followers."
Actually, working with a celebrity or major influencer, the number of exchanges involved in a single post can quickly amount to a slightly tedious endeavor. Brands will brief several influencers, wait for ideas, work on developing content, and will then attempt to get the influencers to agree to post the content. However, on the Tribe platform, brands will upload their briefs to the app, where influencers answer directly. The brand then picks its preferred influencer, pays them and instructs them to go live. This provides a simple and alternative route.
Since Tribe was launched in the UK, it has worked with 400 brands and 3,500 influencers. This is on top of its 3,600 global brand campaigns and 20,000 influencers in its Australian office. Tribe's main campaigns so far have included Selfridges, Moët Hennessy, Burt's Bees, Unilever, Canon, VitaCoco, HSBC, Bumble, Berocca, Carling, Starburst, Adobe, Kettle Chips, Sanctuary Spa, Lufthansa, SwissAir, and Bulmers.
Tribe maintains that the best advice it can offer aspiring influencers is to be authentic. "On Instagram, which is where 90% of our creators are, it's all about being visually inspired. It's a core platform for self expression. Although people carve out their niche in a driving passion, whether it's beauty, food, or photography, there's a complex person behind that and originality and authenticity have to be at the core of defining that in a unique way."