How to set an influencer marketing budget.
If you are looking at an influencer with 50,000 followers, we suggest paying them between $200 and $450 per piece of content. 50,000/1,000 = 50 50 x $4 = $200 and 50 x $9 = $450
Quick TipIf you have decided you'd like to work with a maximum of 20 influencers and have a maximum spend per influencer of $500. 20 max number of influencers x $500 max spend per influencer = $10,000 Total campaign budget = $10,000
You have the ability to compensate your influencers with a product, cash or a combination of both. If you're including a product as compensation, remember to include the retail cost of the product when calculating your budget. Using the scenario from the previous example, if your product has a retail cost of $200, you'll compensate influencers with the product and up to $300 in cash to reach the $500 per influencer budget.
How to set-up your budget in a campaign
Step 1 In the top navigation, click Program and select Campaigns from the drop-down menu.
Step 2 Click the Edit Campaign icon.
Step 3 In "Step 1. Campaign Basics", enter your budget in Campaign Budget and click save.