A recent analysis conducted by digital marketing firm IZEA looked at the expanding costs of sponsored content on various social media platforms including Facebook, Twitter, Instagram, Blogs, and YouTube.
The result of their survey showed that the budget for influencer marketing has increased significantly over the past five years. In fact, the marketing firm claims that brands are even willing to add to the already exploding budget to get influencers to promote their products and services.
The company also noted that on Instagram, the average cost of the sponsored photo has increased 44 percent between the years of 2018 and 2019. The cost was somewhere around $381 in 2015 and has now reached a whopping $1,643.
Read next: Instagram Users Want Authentic Influencers, Study
The result of their survey showed that the budget for influencer marketing has increased significantly over the past five years. In fact, the marketing firm claims that brands are even willing to add to the already exploding budget to get influencers to promote their products and services.
The company also noted that on Instagram, the average cost of the sponsored photo has increased 44 percent between the years of 2018 and 2019. The cost was somewhere around $381 in 2015 and has now reached a whopping $1,643.
"The average cost of a sponsored blog post has risen from $7.39 in 2006 to $1,442.27 in 2019, an increase of 195x.", explained IZEA team in a blog post.Similarly, influencer post on Twitter has reached $422 this year from a limited $34 in 2015. YouTube also remains to be a profitable platform for influencers where a sponsored video costs around $6,700. However, YouTube did see its all-time high in 2017 where influencer videos averaged at $8,000.
Read next: Instagram Users Want Authentic Influencers, Study
