Calculating Your Campaign Budget
- 23 Jan 2023
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Calculating Your Campaign Budget
- Updated on 23 Jan 2023
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Note
If you joined GRIN on January 23, 2023 or later, Campaigns will not be available for your account and has been replaced by Activations. You can use Activations to manage and organize your creator marketing programs. For more information, check out our help articles.
Calculate your Campaign's budget based on the calculations we've provided within this article. Once your Budget is established, you are able to save it within each campaign to easily keep track of the cost of your collaborations.
In this guide, you will learn how to:
How to set an creator marketing budget
To calculate your budget per creator, we suggest budgeting $4-$9 USD per 1,000 followers. To calculate your total campaign budget, multiply your maximum spend per creator by the maximum number of creators you'd like to work with.
For example, if you are looking at an creator with 50,000 followers, we suggest paying them between $200 and $450 per piece of content.
50,000 total followers / 1,000 = 50
50 x $4 = $200 or 50 x $9 = $450
Budget per infleuncer = $200 or $450 per piece of content
If you have decided you'd like to work with a maximum of 20 creators and have a maximum spend per creator of $500.
20 max number of creators x $500 max spend per creators = $10,000
Total campaign budget = $10,000
Quick Tip
You have the ability to compensate your creators with a product, cash, or a combination of both. If you're including product as compensation, remember to include the retail cost of the product when calculating your budget.
Using the scenario from the previous example, if your product has a retail cost of $200, you'll compensate influencers with the product and up to $300 in cash to reach the $500 per influencer budget.
Using the scenario from the previous example, if your product has a retail cost of $200, you'll compensate influencers with the product and up to $300 in cash to reach the $500 per influencer budget.
How to set up your budget in a v2 campaign
Step 1 Click Program , within the navigation bar, and select Campaigns from the menu.
Step 2 Click the Edit Campaign Details icon.
Step 3 In 'Step 1. Campaign Settings', enter your budget under Campaign Budget, and click save.
Step 4 Your Campaign Budget can be viewed within the Campaign Workroom under the Reporting tab. You will be able to easily view where you are in compared to the Total Spend.
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