The real price of Mexican Influencers

Public Relations

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Generally and specifically, LATAM Influencer Marketing is an extremely new model. However, digital influence in countries like Mexico can be traced up to 10 years ago (Werevertumorro, for example, opened its YouTube channel in 2007, and Yuya in 2008). This mismatch between the power to reach millions of people and the ability to market it, led to the emergence of an improvised industry, where without many bases, began to create price lists, and the idea that the most important was how many Followers/Fans do you have was built, so: the more followers, the more expensive the influencer.

This idea, which was also wide world, is perhaps one of the biggest obstacles marketers face when we offer and activate Influencer Marketing strategies. It not only promotes unethical practices (like fake followers purchasing) but fundamentally ignores the Social Networking Strategy key rule: It's all about engagement, baby.

It is useless to reach millions of people with content, if none of them pay attention to it.

So, how do you measure real influencers value? How do you establish a price? And more importantly, how do you get ideal outcomes?

1.- How much do influencers charge?

Depends on who you ask! In general, each influencer has a booker/manager/broker who distributes benefits and press kits of each of his/hers assets to different agencies and brands. These numbers vary greatly from each other and may even vary from other factors such as season and management agency, to mention a few. Another interesting fact to consider is that 72% of influencers surveyed as part of a study of Marketers and Influencers in the USA consider that they are not paid "adequately", while 30% of the brand Marketing Executives considered Difficult to allocate budgets for this type of tactics.

This means that having an expert agency in this type of marketing is very important, as it will not only be responsible for creating effective and appropriate strategies for your brand, but also execute them with efficient budgets that promote a win-win.

At this point we can also mention the fact that 30% of marketers point out that "negotiating the terms" with influencers and "3rd party content creators general handling" is a major challenge, which certainly explains why this type of marketing is increasingly common in Digital and Public Relations agencies.

A good agency should make you pay what influencer worth, not what they charge.

Leading to the next point:

2.- How much are influencers shares cost?

The influencers value is and always will be contextual. Meaning, for example, a vegan chef with low audience, represents zero value for a hamburgers chain, but it can be very useful for a small company of vegetarian products.

Similarly, the type of payment is also variable. Although there are brands with budgets of Influencer Marketing always-on, there are also who choose for short campaigns with precise short-term objectives (launch, GTM, etc).

So budgets can fluctuate and even fail to show up in monetary payments. Around 34% of brands have activated exchange models (experiences/products in exchange for shares), according to 16% of 170 MKT B2C specialists surveyed for another study in 2017 were the most effective. But the post-video payment format remains the most common, applied by 54% of specialists.

However, there are a large number of case studies for different payment formats, a good starting point, from a metric point, is to measure the value of an influencer under the following bases:

Average commitment of each influencer
Sentiment mapping of each influencer (how positive or negative is the generated engagement)
Real audience size (botless numbers)
Audience characteristics (how accurate is the audience of each influencer when analyzing it against the target audience of the brand).
Average ROI per posting (this estimated price can be calculated with different tools)

3.- How to get good outcomes with Influencer Marketing?

Success has many faces, and depending on each strategy and its KPIs you can define how good is the outcome.

To learn more about Best Practices, and how to build a successful influencer Marketing campaign, we recommend checking our specialized guides on this here.