Regardless of which side of the coin you are on, be it an influencer or a marketing agency, determining how much a piece of content is worth for a brand campaign can be a challenge. This is especially true in the ever-changing creator economy, and an influencer- marketing industry that is projected to be worth up to $15 billion by 2022. The ability to make money off sponsored content has created a burgeoning industry of creators with a wide range of follower counts on various platforms.
While it’s true that there’s no single way to classify every tier of influencer, marketers use terms like nano, micro, and macro, to help categorize a social media star’s influence, and in turn, determine rates for their services..
Award-winning influencer marketing agency Viral Nation has categorized influencers into seven different tiers in order to help you understand the difference in pricing and engagement across each social media platform.
Using this method of classifying influencers can assist marketers in understanding who to hire based on the overall goal of an influencer marketing campaign. This can be anything from promoting a new product, creating brand awareness, or even converting followers into paying customers.