Calculate your Campaign's budget based on the calculations we've provided within this article. Once your Budget is established, you are able to save it within each campaign to easily keep track of the cost of your collaborations.
In this guide, you will learn how to:
How to set an influencer marketing budget
To calculate your budget per influencer we suggest budgeting $4-$9 USD per 1,000 followers. To calculate your total campaign budget, multiply your maximum spend per influencer by the maximum number of influencers, you'd like to work with.
For example, 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 total followers / 1,000 = 50
50 x $4 = $200 or 50 x $9 = $450
Budget per infleuncer = $200 or $450 per piece of content
If 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 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 v2 campaign
Step 1 Click Program, within the navigation bar, and select Campaigns from the menu.
Step 2 Click the Edit Campaign Details icon .
Step 3 In 'Step 1. Campaign Settings', enter your budget under Campaign Budget, and click save.
Step 4 Your Campaign Budget can be viewed within the Campaign Workroom under the Reporting tab. You will be able to easily view where you are in compared to the Total Spend.