How to Find and Use CPM in Influencer Marketing

It could be the economy. Or opportunity. Or greed. But I’ve become fed up with the ever-increasing price tags influencers and content creators are putting on brand engagements. For you brands and agencies out there, I’m guessing you might be as well.  In the most recent edition of my monthly email newsletter, I shared some tinkering I’ve been doing with ideas that might help us know when we’re being fleeced by an influencer’s inflated prices. It has involved posing and testing hypotheses around various analytics and whether or not we could use common language from other marketing channels to understand influencer costs and value more clearly. I’ve gravitated to what I think is a fair assessment of the CPM, or cost-per-thousand impressions, an influencer may produce. But it’s not as simple as comparing it to CPM rates from other channels because those channels aren’t communicating messages of validation via a trusted third party. The channels are also not the same because the costs are very different. You simply can’t engage most influencers for the same cost as running a pay-per-click ad. Or sending an email. Today on Winfluence, I’m going to share a lot of my thinking on how to adequately produce a CPM rate for influencers. Then I’m going to share several CPM rates of creators and influencers I’ve calculated based on rate cards and other information I’ve gathered from several creators across content verticals and social channels.  I’ll point out the trouble spots and cautionary tales for how to use and not use this approach, too.  My hope is that we can start to analyze and understand the cost and the value of influencer marketing engagements in a more sophisticated and analytical way … We can know when someone is charging far too much … and perhaps even start to convince those who hold the purse strings, be they bosses or clients … that there is a way to know an influencer or content creator is worth the investment. A lot of the analytical data you’ll hear me talk about in today’s episode is information I’m pulling from Tagger. It is a complete influencer marketing software platform that allows you to find, engage, book, collaborate, pay and measure influencers. Tagger is also the presenting sponsor of this podcast and the platform I use in my day-to-day work at Cornett to manage influence marketing efforts of our clients. In fact, I wouldn’t be able to get as deep into these ideas without Tagger because it offers a couple of critical pieces of information for my calculations. I’ll explain more of that in the episode. But I highly recommend you give Tagger a look-see. When I have a new project for influencers, I have my campaign up and running, build my lists of potential collaborators, spit out one-page profiles of each for my clients to review and load in contracts, creative briefs and more, all in just a few minutes, provided I have the briefs written, of course. Tagger is good but it can’t write them for me.  When my creators post on their social networks, the data is pulled into Tagger automatically, so I can kick out analytics reports for our campaigns to give to our clients every day if need be.  All I ask of you is to do a demo of Tagger. See it for yourself. Go to jason.online/tagger and sign up for a free demo today. It might just be the influence marketing management solution you’re looking for. It certainly does wonders for me, my team at Cornett, and our clients. That’s jason.online/tagger. Learn more about your ad choices. Visit megaphone.fm/adchoices

Om Podcasten

There's a different in having TikTokers and Instagrammers post about your brand and actually driving influence. Welcome to Winfluence - The Influence Marketing Podcast, where we explain the difference and help your brand shift from influencer marketing to influence marketing. Hosted by industry expert Jason Falls, acclaimed author of "Winfluence: Reframing Influence Marketing to Ignite Your Brand," this podcast takes you on a strategic journey through the world of influence marketing. Jason's wealth of experience ensures that your influence efforts are not just about buzz, but also about real, measurable business impact. And you'll learn that influence marketing (without the 'r') is more than just social media. It can involve offline influence, media, thought leaders, community members and beyond. 🎙️ Episode Highlights: Join us as we dive deep into enlightening conversations with a diverse range of guests, including brand managers, agency strategists, software vendors, and influencers themselves. Get ready to uncover the intricacies of the art and science behind influencing audiences to take action, whether that's trying, buying, or thinking differently. 🔥 What You'll Explore: 📊 Strategic Insights: Gain a new perspective on influence marketing by understanding how to align your influence efforts with concrete business objectives. From increasing brand awareness to driving tangible sales, we unveil the strategic keys to success. 🤝 Collaborative Brilliance: Delve into the secrets of successful collaborations as we chat with brand managers and influencers who have perfected the delicate dance of co-creation. Discover how authenticity, alignment, and creativity drive powerful partnerships. 🔬 The Influence Science: Explore the science behind influence, dissecting the psychological triggers that inspire action. Learn how to craft messages that resonate deeply with your target audience, prompting them to engage, purchase, and advocate for your brand. 🌐 Beyond Online Borders: Dive into the world of offline influence and discover how it complements digital strategies. Unearth the strategies that translate seamlessly from online to offline, creating a unified brand presence that captivates audiences across all touchpoints. 📚 Learn from the Best: Benefit from the wisdom of industry leaders who have mastered the delicate balance between utilizing influencers and creating genuine influence. Gain practical insights that empower you to create meaningful, lasting connections. 🚀 Stay Connected and Informed: If you're committed to turning influence into impact, Winfluence is your one-stop source of inspiration and knowledge. Subscribe now to receive a steady stream of episodes that will revolutionize the way you approach influencer marketing. 🎧 Where to Tune In: Listen to Winfluence wherever you get your podcasts or watch the show on its Tuesday streams at 11 a.m. ET/8 a.m. PT on YouTube, Facebook, LinkedIn and on @jasonfalls's Twitter stream. 📲 Engage and Connect: You can find Jason Falls on most social media platforms @jasonfalls or look for Winfluence on YouTube or Facebook.