One of the most frequent questions I get in my private Facebook group is “How much should I charge for a sponsored post”. So today I thought I would be pen to paper…errr..fingers to keyboard and give you a quick math equation that you can use to determine a price for your sponsored posts efforts, but also some key factors that go into determining your price.
Plus, as a bonus, I’ll give you a sneak peek at what other bloggers are charging below!
When it comes to sponsored posts, companies are looking for one (or both) of two things: Traffic or a Niche audience. They are either looking to drive a lot of traffic to their products or services or they are looking to get in front of a highly targeted niche. For example, let’s say a Horse saddle company is looking to partner with bloggers. Does it make sense for them to spend big money on a sponsored post with a “pet blog” that gets 300,000 views a month or does it make sense for them to spend their money on a Horse Riding blog that gets 50,000 views a month? To be quite honest, they should do both and most do. This is why getting traffic to your blog & selecting a niche are soo important to your blog monetization efforts.
How to determine what you should charge for a sponsored post
Take the number of daily page views you receive and divide it by 10, this equals your ‘magic number’. This the price you should charge for a sponsored post. For example, if you receive 500 page views per day, you would charge $50 per sponsored post. That isn’t a perfect formula, however it seems to be a good starting point for most bloggers.
Reasons why you could charge more
In some cases, you can charge more for sponsored posts and that depends on a variety of factors, below I will list out the reasons why you may want to charge more than your ‘magic number’ for some sponsored posts.
There is a lot of work involved: Some brands require more than others. Some companies may you go to the store, buy the item, do something fun with the item, take pictures, write a blog post and share on social media. Whew…that’s a lot of work. There is no way you are going to want to charge your minimum price on an sponsored post like that. In this case, you’ll want to add up all of the extra time that it would take you to complete the post (not including writing the post or sharing it) and give your time a fair hourly rate and add it to your magic number. For example, if you determine it’s going to take you and extra 1.5 hour to complete the sponsored post and you think your time is worth $50 per hour, add an additional $75 onto your magic number.
You have a VERY niche audience: As I mentioned before, if you’ve got a blog devoted to a very narrow niche, you can usually charge more for a sponsored post. Niche audience is a highly engaged readership focused around one thing.
You have a VERY large social following: Let’s say you have a blog and it gets decent traffic, but for some reason you have a Pinterest, Instagram or Facebook account that has a HUGE following…then you should charge more for sharing it on that particular network. Consider it an upcharge.
**IMPORTANT** Now that you have a rough idea of what you should be charging for a sponsored post, I want you to keep it a secret. I do NOT want you to tell the company seeking a sponsored post unless you ABSOLUTELY have to. Here’s how to handle the conversation instead,
Hi Jane Blogger,
We are interested in having you do a sponsored post for our company, would you mind sending over your rates.
Here’s how I want you to respond:
Hi Company X,
Thanks for reaching out to me regarding a sponsored post with your company. I have enclosed my traffic stats, social followers and examples of sponsored posts I have worked on in the past. I trust that your company pays bloggers fairly and look forward to seeing what your budget will allow on this project.
Here’s what you’ve done…you’ve just put yourself in the best position ever…because now THEY have to say the first number..and if you know anything about negotiation, he who says the first number loses. Not only that, but you’ve flattered the company by saying “I trust that your company pays bloggers fairly” which will hopefully prompt them to come back with a ‘fair’ number.
Possible Comebacks & How to Respond
We don’t have any budget: Some companies simply don’t have a budget and that’s that. So at that point, its up to you to determine whether or not you are willing to work for free or in exchange for exposure or promotion on their website & social channels. Once again, this is a personal decision. I know some pro-bloggers out there will say to never work for free…I totally disagree. I think building a relationship is far more important than getting a one time pay out.
We can pay…(way less than you expected): If the company comes back with a rate that is way less than you expected, then this is a GREAT time to reveal what your price is. Send the company back and email thanking them for sending you their budget, however, you are unwilling to do the sponsored post for less than <your magic number>.
We can pay…(way more than you expected): Stop what you are doing and do a happy dance! You are about to be paid more than you wanted to for a sponsored post!
Your Sponsored Post action Plan:
- Determine your magic number (Daily Page views/10)
- Add more money if necessary
- Keep it a secret
- Try to get the company to reveal their number first
- Respond accordingly
Now let’s take a look at what other bloggers are charging
Because I work with brands on blogger ambassadorships, I frequently put out calls for rates from different bloggers, above I have compiled some data on various sponsored post rates. As you can see…these numbers are all across the board!