YouTube influencer marketing is on the rise. Celebrities and every day people alike are turning to YouTube to promote products and services. Why? Because it works! In fact, a study by Mediakix shows that 80% of marketers who used influencer marketing found it to be successful. But what about the cost of YouTube influencer marketing in 2022? How much will it cost to work with top YouTubers to promote your brand or product? In this blog post, we will explore the cost of working with various types of YouTube influencers, and offer tips on how to keep costs down while still achieving maximum results.
YouTube influencer marketing is a type of social media marketing that involves collaborating with popular YouTube creators to promote your brand or product. YouTube influencers have a large and engaged audience, and they can use their influence to generate awareness and drive traffic to your website. To be successful, it's important to choose an influencer who aligns with your brand and whose audience is interested in what you have to offer. You should also provide the influencer with clear guidelines about what you expect from the collaboration. When done correctly, YouTube influencer marketing can be an effective way to reach a new audience and drive sales.
There's no question that influencer marketing on YouTube can be costly. But several factors contribute to the cost, including the size, reach, follower engagement, Industry or niche, the type of content they produce, and the length and frequency of their videos.
Influencer size: The size of an influencer's audience is one of the most important factors that determine cost. The larger the influencer's following, the more expensive it will be to work with them.
Reach: Another factor that affects cost is how widespread an influencer's reach is. An influencer with a large international following will be more expensive than one with a smaller national following.
Follower Engagement: How engaged an influencer's followers are is also a factor that affects cost. An influencer with high engagement (likes, comments, and shares) will be more expensive than one with low engagement.
Industry or niche: The industry or niche an influencer specializes in can also affect cost. For example, an influencer who specializes in the beauty industry will be more expensive than one who specializes in automotive repair.
The type of content they produce: The type of content an influencer produces can also affect cost. An influencer who produces mostly short-form videos will be less expensive than one who produces long-form videos.
The length and frequency of their videos: The length and frequency of an influencer's videos can also affect cost. An influencer who produces one long-form video per week will be more expensive than one who produces three short-form videos per week.
That said, there are also several ways to minimize the cost of influencer marketing on YouTube. By working with smaller influencers, or those who produce shorter videos, brands can get their message out there without breaking the bank. Additionally, many brands are now turning to YouTube influencer marketing agencies to help them identify and secure partnerships with the right influencers for their budget. These agencies generally charge a percentage of the total campaign budget, making them an affordable option for brands looking to get the most out of their YouTube influencer marketing campaigns.
While it's true that YouTube influencer marketing can be expensive, there are several ways to keep costs down while still achieving maximum results.
Here are a few tips:
Choose an influencer with a small but engaged following.
Collaborate with an influencer who produces content in your industry or niche.
Work with an influencer who produces short-form videos.
Limit the length and frequency of your influencer's videos.
Provide the influencer with clear guidelines about what you expect from the collaboration.
According to Business of Apps, in 2019 YouTube influencer marketing cost $6,700, in 2017 it cost close to $8,000. However, in 2018 prices dipped to $4,085. The cost is based on YouTube influencing charging $20 for every 1,000 subscribers an influencer has on her or his YouTube channel, a scale that continues up to $20,000 for an influencer with 1 million subscribers.
In 2022, you can expect to pay $50-$100 for every 1,000 views. Keep in mind that this is in addition to the cost of creating the video itself. That being said, if you can find the right influencer who resonates with your target market, then YouTube influencer marketing can be a very effective way to reach a large number of people at a relatively low cost.
While YouTube influencer marketing can be more expensive than other forms of advertising, it can also be more effective in reaching your target audience. If you're considering using YouTube influencer marketing to promote your business, make sure you factor in the cost before you get started.
The amount influencers earn per post can vary widely depending on their number of followers and engagement rate. Below is a list from Influencer Marketing Hub of how much influencers earn per video on YouTube based on follower size.
Nano-influencers (1,000–10,000 followers) - earn $20–$200 per video.
Micro-influencers (10,000–50,000 followers) - earn $200–$1,000 per video.
Mid-tier influencers (50,000–500,000 followers) - earn $1,000–$10,000 per video.
Macro-influencers (500,000–1,000,000 followers)- earn $10,000–$20,000 per post.
Mega-influencers (1 million+ followers)- earn $20,000+ per post.
Some influencers charge based on sponsored video views and not per post/video, charging $50–$100 per 1,000 views.
As a business owner, you're always looking for new ways to reach your target market. Traditional advertising methods like TV commercials and print ads can be expensive, and you may not be sure if they're really reaching your target audience. That's where YouTube influencer marketing comes in. Working with popular YouTube personalities can help you reach a whole new group of potential customers. There are several benefits that brands can enjoy by investing in YouTube influencer marketing. Some of the most notable benefits include:
Reach a large audience: By partnering with an influencer who has a large following on YouTube, brands can reach a much wider audience than they would be able to through traditional advertising channels.
Build trust and credibility: YouTube influencers have built up trust and credibility with their followers by providing them with valuable content regularly. As a result, their endorsement of your brand can go a long way in helping you build trust and credibility with potential customers.
Generate leads and sales: YouTube influencer marketing can be an effective way to generate leads and sales for your business.
Increase brand awareness: Working with an influencer can help to increase brand awareness and reach among potential customers.
Improve search engine ranking: YouTube is the second-largest search engine in the world, behind only Google. As a result, partnering with an influencer who has a large following on YouTube can help to improve your brand's search engine ranking.
YouTube influencers have a lot of influence over their fans. When they recommend a product or service, their fans are more likely to check it out. This is because fans trust influencers and see them as credible sources of information. YouTube influencers can also help build brand awareness and create a buzz around your product or service.
If you're thinking of working with YouTube influencers, make sure you choose ones who align with your brand and have a large, engaged following. You should also provide clear guidelines about what you expect from the collaboration. By doing this, you can ensure that you get the most out of your YouTube influencer marketing campaign.
While influencer marketing can be an effective way to reach a large audience and build trust and credibility for your brand, there are some potential disadvantages that you should be aware of. These include:
It's time-consuming: Influencer marketing has become one of the most popular and effective ways to reach a target audience. However, it can also be time-consuming to find the right influencers and create meaningful partnerships. In addition, influencer marketing requires ongoing communication and content creation in order to be successful. As a result, brands need to be prepared to invest both time and resources into their influencer marketing programs. While the initial investment may be considerable, the payoff can be well worth it in terms of reach, engagement, and sales.
It can be expensive: Working with popular influencers can be expensive. In addition to paying the influencer for their time and content, you may also need to budget for production costs, like video editing, equipment rental, and travel expenses.
Fake followers: Some influencers have been known to buy fake followers to inflate their numbers. As a result, brands need to be careful about who they partner with and make sure to do their research before entering into any agreements. According to Forbes, some accounts have skyrocketed by purchasing fake followers and these kind of accounts do not influence their followers.
It can be difficult to measure results: Measuring the results of your influencer marketing campaign can be difficult, as there are several factors to consider, including the size of the audience, engagement rates, and post frequency. In addition, it can be hard to track ROI if sales are not directly attributable to the campaign. As a result, companies need to carefully consider their goals and objectives before embarking on an influencer marketing strategy.
High Risk Involved: Influencer marketing has become increasingly popular in recent years, as companies look for new and creative ways to reach potential customers. However, there are some risks involved in this type of marketing, as influencers may not always be honest about their relationship with a brand. Additionally, influencers may not have a large or engaged enough audience to make a significant impact on a company's bottom line. As such, it is important for brands to carefully consider the risks and benefits of influencer marketing before taking the plunge.
Working with the Wrong Influencers Can Do More Harm than Good: When it comes to promoting your brand, it's important to choose the right influencers to work with. After all, their followers will become your audience, and you want to make sure that you're putting your best foot forward. Unfortunately, working with the wrong influencer can do more harm than good. For example, if they have a negative reputation, their followers may see your brand in a negative light as well. Additionally, if they have a small following or aren't particularly active, they won't be able to do much to promote your brand.
Influencer Marketing Mistakes Can Cost Your Brand: If you make a mistake with your influencer marketing campaign, it could cost your brand. For example, if you fail to disclose that the influencer is being paid to promote your product, it could result in a fine from the Federal Trade Commission (FTC).
Despite the potential disadvantages, influencer marketing can be a great way to reach a new audience and build trust and credibility for your brand. If you're thinking of working with YouTube influencers, make sure you do your research and choose ones who align with your brand and have a large, engaged following. With careful planning and execution, you can create a successful campaign that generates real results.
In conclusion, while there are some risks involved in YouTube influencer marketing, the potential rewards make it a worth while investment for many brands. When done correctly, influencer marketing can help you reach a new audience, build trust and credibility for your brand, and generate real results.
What do you think? Is YouTube influencer marketing worth the cost? Let us know in the comments below!
Business of Apps. (2021, June 16). Influencer marketing costs. https://www.businessofapps.com/marketplace/influencer-marketing/research/influencer-marketing-costs/
Geyser, W. (2021, June 28). Influencer rates: How much do influencers really cost in 2021? Influencer Marketing Hub. https://influencermarketinghub.com/influencer-rates/
Pfund, C. (2019, December 17). The Pros and Cons Of Influencer Marketing For Your Brand. Forbes. https://www.forbes.com/sites/theyec/2019/12/17/the-pros-and-cons-of-influencer-marketing-for-your-brand/?sh=6d9f16335ed0
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