Influencer worth is a hot topic these days, not because it’s debatable whether influencer marketing works, but because marketers keep discovering new ways in which influencers generate returns. Simultaneously, social creators are coming to terms with their worth. Equitable pay for influencers is a growing movement as brands move away from traditional (and costly) ad and content design.
The most popular influencer performance metrics are:
- Influencer media value
- Reach
- Content
- Engagement
- Conversions
Initially, influencer marketing was primarily a go-to strategy for young DTC, eCommerce brands. Though now, major manufacturers and distributors are finding ways to leverage influencers and support retail partnerships. However, as eCommerce grows, so do all the ways that brands choose to leverage social media creators for awareness and sales. Among the leading industries for influencer marketing currently are:
- Fashion
- Health, wellness, nutrition, fitness, etc.
- DIY
- Travel
- Gaming (eSports)
- Entertainment and media streaming
Brand awareness is often the most-cited reason for collaborating with influencers. As a result, influencer reach becomes a critical metric.
A creator’s reach usually matches their follower count. That’s why marketers categorize influencers by how many followers they have, as such:
- Nano – 1,000-10,000 followers
- Micro – 10,000-100,000 followers
- Macro – 100,000-1 million followers
- Mega/Celebrity – 1 million followers or more
Unfortunately, though Influencer marketing gained popularity, Influencers have not attained that height, both in terms of fame and earnings.
While asking about the paycheque of an influencer or blogger, Mumbai based influencer Saina Poddar said, this space is fragmented and requires a more systematic approach, this is not only better for the influencers, it is good for the brands as well to find the right kind of influencer for their products. As of now, the paycheque of an influencer varies somewhere between INR 1,000 to INR 1,00,000; it even increases if the influencer is a celebrity, though payment patterns are very volatile and there is no guarantee of timely payment.
While asking of being hobbyists, Saina Said, I will not completely deny this fact that influencers are mostly hobbyists; this sector is still unorganized and lack of seriousness is an issue.
