How much, really?!
For you marketers out there, I have a bad news:
Chinese influencers are pretty expensive.
But they also delivers.
For example: In July, 2017 Mini Cooper collaborated with a top Chinese influencer Becka to launch it’s limited edition blue color. Becka promoted with 3 posts on her Wechat OA, and sold 100 cars within 4 minutes.
In this post I’m gonna explain why they are expensive, what are the market price and other costs for doing Wechat influencer marketing.
Understand Wechat influencer marketing KPIs
When it comes to Wechat influencer marketing, the number one KPI isPage View, which shows how many times a push-up post has been opened.
Since Wechat disclose so few data to the public, Page View is the most prominent KPI, it determines how much an OA influencer charges for commercial post.
Page View displays on the left bottom of the post, see image below
- When a push up post reach 100k page view, it only displays 100k+ to the public, therefore, a post can be viewed 10million times or 100k times. The public cannot know unless you can to see the account dashboard.
- Every Wechat ID can contribute max. 5 page views every day, which means when you open a post, close and open again, it will be count as 2 page views, but no more than 5 in one calendar day.
- Page view only count when opening within Wechat app, although it’s possible to read Wechat post on desktop or other mobile browsers, the number won’t count for page view.
‘ Page View basically determines the price the Wechat influencer charges ‘
Cost Per Thousand Page Views
The term Cost Per Thousand Page Views is used when determine Wechat influencer prices.
Industry standards for Cost Per Thousand Page Views is 0.5 RMB in 2017, established OAs can cost up to 1.5 – 2 RMB:
The biggest Wechat influencer Mimeng charges 600 000 RMB for one commercial post.
Do all Wechat influencers creating content?
There are two types of Wechat OA accounts:
Content creating and Traffic driven
Think about it as blogs, there are blogs that about creating a personal brand with original content.
There are also blogs that generate information, mostly in the end of the purchasing circle, to drive traffic. Similar to affiliate websites.
- Content creating accounts is the Wechat form of influencer account: fashion blog, food blog or whatever, that focus on unique and authentic content.This type of accounts normally taken care of content creation in house, as advertiser all you need to do is to provide directions, materials and general ideas.
Content creating accounts has more engaging users, in other words: fans. Which require higher quality of content that subtly embed the promotion information, therefore requires tailor made content for each promotion to make it entertaining or educational than pure commercial.
This type of accounts are better for brand building, and reach out to customers in the beginning of their purchase journey.
- Traffic driven account focuses on generate traffic by push up news and posts from others: City focused Wechat account, affliated accounts, etc.Traffic driven account doesn’t create content itself. Say if you have a sales coming up, a traffic driven OA that focuses on babe products can help you get the word out to targetted audience.
‘ While original accounts can provide higher literacy quality content, traffic account is better at promoting events, store openings in a location, or big sales. ‘
Determine the price for a Wechat public account
During 2016 Q1- Q3 Wechat influencer marketing sales increased 144% compare with same period last year, sales increased 242%.
The increase shows the market’s confidence in Wechat as an influencer marketing channel, as well as it’s ability to bring in high ROI.
There are no standard price list yet for Wechat influencers, each account is unique and thus have different price.
According to a ranking agency, over 50% of Wechat influencer marketing sales are in the range of 5k RMB to 50K RMB during 2016 Q1-Q3, the average Cost per thousand page view is around 500 RMB.
Is Wechat advertising expensive compare with Facebook?
If we compare with Facebook CPM, the average is $7.19 (2016, Nov), Wechat is much more expensive in that sense, however take into consideration these 2 aspects:
- Page View is much more than impression: Users would need to be actively open the push up post. Moreover, Wechat push up posts are mostly long and profound, text based article, it is much more than scroll down images and images when you are communting.
- The content are created by the account owner, in order to suit the style, and in turn align with it’s followers’ expectations. This lift up the pressure of content creating work load for advertisers.