So though I’ve shared with you this formula, I’m also going to share that you should NEVER set your rate simply based on this formula. Instead, keep it in the back of your mind to use as a base and to understand a starting place.
TIME
USAGE/LICENSING
BOOSTING/WHITELISTING
DELIVERABLE TYPE
EXCLUSIVITY
I typically like to follow a calculation of Follower Count x [1% + (engagement percentage / 2)] = Rate For example: 50,000 x [1% + (2%/2)] = $1,000 for a Instagram Static Post
For a carousel post, you are taking more photos which could bring along more engagement,. Typically, for these type of posts, you add on $100 per each additional photo on top of the pricing you would charge for a static post.
When charging for Reels, I use the static post calculation and then add a per hour rate for how long it would take the video to create and edit. If your Reels are consistently doing phenomenal, also consider simply pricing just by 2% of your average views. So, if you’re someone that typically gets 100k views, instead of using the static post + per hour rate, you would charge $2,000 as the base rate.
For Instagram Stories, you’ll typically want to create a package price that connects with any another Instagram post, but in some cases, you’ll have brands who only want Instagram Stories. – 0 – 10,000 Followers: $100 / $175 – 10,000 – 50,000 Followers: $350 / $ 500 – 50,000 – 100,000 Followers: $500 / $700 – 100,000 – 300,000 Followers: $750 / $1,000 – 300,000+ Followers: : $1,500 / $2,000
A brand may ask you to host an Instagram Live as those are also getting great engagement and typically bring you and the brand new followers. When pricing on an Instagram Live, you’ll want to price this per hour as if you were being pulled into a modeling job, but in this case, they wouldn’t be covering food costs, travel, or the link since you can host the Live from your home.
LICENSING
For usage and licensing, the brand is asking to purchase the right to use the content that you have created for a period of time with the granted permission that they may change it to make it fit their marketing efforts. They are basically taking control from you. Know that usage and licensing of an image isn’t based at all on your follower account, engagement, or anything to do with your social media, because you aren’t posting. You are creating content that they may have asked you to post previously, but now they are buying it from you.
WHITELISTING / BOOSTING
Whitelisting and boosting is also another additional charge that you add onto your rate, and this rate, similar to licensing is based on length of time, so make sure that you are always considering timing when it comes to determining how much to charge per Instagram posts. By general rule of thumb, I typically aim to charge 50% of the rate for ever 30 days of whitelisting and/or boosting.
Now that you have a general understanding on how much to charge per Instagram posts, you can now use the same type of thinking and formulas for other social media posts. With many of the platforms having the same type of post types and looking at the same analytics, brands will maintain the same type of structure on pricing in their own internal guides as well.