I have been wrestling about my sponsored blog post rates for years. What’s fair for me? What’s fair for the brand? How do I decide? I love that there is so much flexibility in owning a blog, but sometimes, I think it would be great to have standards and conventions we all followed. I suppose that would rob us of some of the freedom and spontaneity we enjoy as bloggers. And the absence of those conventions gives us the opportunity to determine what’s best for our individual blogs.
There are probably as many formulas and conclusions about sponsored blog post rates as there are bloggers making them. In hopes of drowning out the noise, I set out to determine a formula that would work best for my blog. And, though I prefer when a brand or PR rep simply makes me an offer I can choose to refuse, it’s nice to have a solid backup plan to fall back on.
My Formula for Setting Sponsored Blog Post Rates
A few years ago, I thought we’d hit the mother lode when this sponsored post formula hit Babble:
Here’s why it doesn’t work for me:
It does not take into account the hours of work you spend on a single blog post.
It doesn’t factor in the value of ALL your social networks (why does it only include Twitter?).
It doesn’t account for influence or syndication.
And, the biggest issue–I would make very little money using this formula!
I’ve seen additional formulas that add an hourly rate and number of hours spent working, but that doesn’t work for me either. I don’t want to think in terms of hours when I blog, plus I really don’t want to have an in-my-face record when I spend way too much time on a post!
So, I’ve come up with a formula that accounts for the potential page views and potential eyeballs I get through heavy social media syndication. It also factors in my influence, which is really what I’m offering to the brand. I also took into consideration that these are only potential views and eyeballs for the brand, so I used the traditional CPM or cost per thousand views. Without further adieu, here it is:
Here’s what’s involved:
- Average number of page views: I keep a Google Drive Spreadsheet with a running total of my pageviews, visits and unique visitors. It gives me easy access to my 6 month averages. (If you don’t have Google Analytics set up for your blog, get that done now!)
- Plus social media syndication: I syndicate every single blog post on Facebook, Pinterest, Google + and Twitter. I send a variety of social media posts the day of, the day after, the week after and month after a blog post is published. I have a number of followers on all of these sites and each syndication is a potential page view. I also include my Insider Newsletter subscribers and daily email subscribers in this number.
- Divided by 1,000: I divide those potential pageviews by 1,000 to get a basic cost per thousand views (CPM).
- Multiplied by Page Rank: Babble’s formula divided by page rank, but I think my page rank multiplies potential reach, not minimizes it.
- Plus 10% of Kred OR Total Klout Score (whichever is greater): I want to factor in my influence, and Kred and Klout help me do that. Since Kred scores are three digits, I take 10% of that or use my Klout score if that’s greater. If you aren’t up and running on Kred and Klout, it’s quick and easy to do.
And with that, I always know what to charge and it takes the stress out of things for me!
So, I’m curious, would this formula work for you? If not, how do you determine your sponsored blog post rate? Leave a comment and let’s keep the conversation going. I’m interested in hearing your take!
If you’re a regular reader, you’ll notice that this is a break from my usual T.I.D.B.I.T.S. Occasionally, I post Blog Boosts to help other bloggers. I’ll be back to my regularly scheduled posts after this!