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How to Assess How Much Money Social Media Stars Make
In a world ruled by technology, social media influencers have become one of the most influential careers. Whether it's YouTube stars like Nelk and Dude Perfect, or Instagrammers with millions of followers, social media stars can make serious money. But how do they actually do it? With a bunch of assumptions and a bit of math, it's possible to assess how much money these influencers can make.
Understand the Setup
To start, you should understand the types of deals that influencers are signing. A lot of influencers are sponsored by brands. They are paid for promoting or endorsing a product or service in exchange for money, products or services. Others may be paid for appearances at events, or sponsored content created from lifestyle articles, videos or even photoshoots.
It's also important to understand the particular viewer and follower base for each influencer. Knowing the size of the influencer's audience can help you assess their worth. You can do this by looking at the following metrics:
- How many views and shares an influencer's videos get
- Ad clicks and how much revenue it generates
- Likes, comments and impressions on Instagram posts
- Number of subscribers to a YouTube channel or followers on Instagram
Access Audience Engagement Numbers
Once you understand the setup and what types of deals influencers are making, you will need to understand how their followers are engaging with the influencer's content. You need to access the actual analytics within whatever platform they use. If they use YouTube, you'll need to access YouTube Analytics. If they use Instagram, you'll need to access Instagram Insights.
Once you have access to the engagement numbers, you'll be able to see how many followers and views the influencers are getting. This can give you an idea of how valuable they are. Additionally, you will be able to see how often the influencer posts and the types of content they post.
Calculate their Worth
Once you understand how much engagement influencers get and what type of content they post, you can start to calculate their worth. You can do this by taking all the numbers you've gathered and applying them to the influencer's pay rate - typically it's between US$10 and US$75 per 1,000 followers or viewers.
For example, if an influencer has 10,000 followers, and the current pay rate is US$20 for 1,000 followers, the influencer would be worth US$200 for promoting and endorsing a product. But of course, this number can fluctuate based on the innate value and engagement of the influencer's content.
FAQs
How can I calculate how much money an influencer is worth?
To calculate how much money an influencer is worth, you will need to access their analytics and examine their engagement numbers, such as video views and followers. Then use these numbers to calculate the influencer's pay rate, usually between US$10 and US$75 per 1,000 followers or viewers.
What metrics should I look at to assess an influencer's worth?
To assess an influencer's worth, you should look at metrics such as the number of views, likes and comments on content, number of subscribers to a YouTube channel and followers on Instagram, as well as ad clicks and revenue generated from these activities.
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