How much does an influencer manager cost monthly?
In the ever-evolving realm of influencer marketing, understanding the financial dynamics of partnering with an influencer manager is essential. These behind-the-scenes powerhouses play a pivotal role in shaping the success of influencers, but their services come at a cost. If you’re an and coming Influencer, you may be wondering, how much does an Influencer Manager cost monthly?
An influencer manager may charge a monthly retainer fee to provide ongoing support and services to their clients. This fee structure offers stability and predictability for both the influencer and the manager. Monthly retainers can vary widely depending on factors such as the influencer’s level of fame, the complexity of their brand partnerships, and the extent of services provided by the manager.
Typically, monthly retainers for influencer management services range from a few hundred to several thousand dollars per month. In exchange for this fee, the manager may offer services such as brand deal negotiations, content strategy development, campaign management, and administrative support.
A monthly retainer provides influencers with consistent access to professional guidance and support, helping them navigate the complexities of the industry and maximize their earning potential.
The specific fee structure is usually negotiated between the agent and the client and is influenced by factors such as the agent’s experience and the level of personalized service required.
My friend Molly Tracy who is the CEO and founder of Vrai Digital uses a retainer model I believe for the clients she does a lot of outbound pitching for.
The few agencies I know who also include a retainer do a lot more work for, & on behalf of, their talent such as more specific brand building, social media management, brand overhauls & continuous outbound marketing.
My talent agency is a hybrid of both retainer plus commission for the first 90 days. This is because I spend a lot of time onboarding new talent, working with them to update media kits, reconnecting with their network, introducing them to mine among other things that aren’t financially compensated.
I do a monthly fee + 10% commission on all deals we close during those first 90 days and then starting at month four, I move to a straight 20% commission structure. It’s a question I’m often asked, so I wrote about it in my FAQs page here.
How much does an Influencer Manager cost?
An Influencer manager can cost a few hundred dollars each month to upwards of thousands of dollars. It all depends on the volume and amount of projects an Influencer invoices in any given month. I’ve written more about how much does an Influencer Manager cost in this article.
Do Influencers pay their managers?
Yes, Influencers pay their managers.As mentioned in this article, one way Influencers pay their managers is with a monthly retainer. Another way Influencers pay their managers is via commission, a percentage of the brand deals their manager closes for them.
If you want to read more, I wrote this article “How do Influencer Managers get paid?”
Should I hire a manager as an Influencer?
You should hire a manager as an Influencer only if you’re an already established Influencer with a steady stream of paid brand collaborations. Personally I look for my talent to be around $100k in annual revenue for paid brand deals.