Brands are set to increase their influencer marketing budgets by 70% in 2024. Instagram, hosting 2.35 billion users, stands as the most common choice for brands looking for influencer marketing services.
Agency directory DesignRush compiled a list of the top Instagram influencers to work with in 2024 if you’re looking for the best bang for your buck.
Key Findings:
- AI influencers give better ROI to brands than humans, securing the top three spots on our ranking with the lowest cost per engagement.
- We uncover nine mid-tier influencers featured as the go-to choice for brands aiming for peak engagement and ROI.
- One mega-influencer made our top 10 ranking, and you can’t guess who it is. The question remains - Is it worth spending 60% more than the average?
“This ranking method provides a clear comparison of the cost-effectiveness of different influencers, helping brands identify the best influencers to hire based on their budget and engagement goals,” explained Mariana Delgado, Marketing Director at DesignRush.
The following table includes a breakdown of the top 10 Instagram influencers by cost per engagement (CPE).
Rank | IG Handle | Followers | Engagement Rate | Earnings Per Post | CPE |
1 | @kyraonig | 280,000 | 8.92% | $1,118 | $0.04 |
2 | @MikuHatsune | 122,000 | 8.80% | $524 | $0.05 |
3 | @TheCodeMiko | 135,000 | 6.73% | $556 | $0.06 |
4 | @ChiaraFerragni | 29.2 million | 3.40% | $83.72 | $0.08 |
5 | @The.VerseFamily | 378,000 | 21.23% | $7,930 | $0.10 |
6 | @MagicalWandering | 118,000 | 3.43% | $400 | $0.10 |
7 | @JeimyDiciaccio | 99,000 | 4.75% | $470 | $0.10 |
8 | @TheCapturingCouple | 100,000 | 16.55% | $1,650 | $0.10 |
9 | @FoodWithBros | 126,000 | 18.44% | $2,320 | $0.10 |
10 | @lticapital.finance | 278,000 | 11.81% | $3,280 | $0.10 |
TO ACCESS THE FULL LIST, CHECK OUR PDF TABLE
Top Instagram Influencers by Cost Per Engagement in 2024
We identified the top 10 non-celebrity Instagram influencers brands should consider partnering with in 2024, highlighting a mix of 60 human and 27 virtual influencers that provide the best value for every dollar spent.
Profiles of the most cost-effective Instagram influencers for brands are listed below.
1. Kyra
- Instagram: @kyraonig
- Followers: 280,000
- CPE: $0.04
- Type: AI
- Category: Mid
As the top-ranked influencer, Kyra is revolutionizing digital marketing with an exceptional cost per engagement of just $0.04. Created by FUTR Studios and featured on Shark Tank India, this virtual influencer blends cultural and futuristic themes, captivating a substantial audience of 280,000 followers, backed by an impressive 8.92% engagement rate.
2. Hatsune Miku
- Instagram: @mikuhatsune
- Followers: 122,000
- CPE: $0.05
- Type: AI
- Category: Mid
Ranked second, Hatsune Miku stands as a pivotal figure in virtual entertainment, combining music with digital technology. With a CPE of only $0.05 and an 8.8% engagement rate, she offers significant value to brands in the music and entertainment industries looking for a unique promotional edge.
3. Code Miko
- Instagram: @thecodemiko
- Followers: 135,000
- CPE: $0.06
- Type: AI
- Category: Mid
Third-ranked Code Miko, portrayed by Youna Kang, excels in engaging the gaming and tech communities. Her 6.73% engagement rate and 135,000 followers highlight her niche appeal, which is reflected in a slightly higher CPE of $0.06, making her a sought-after figure for tech-driven campaigns.
4. Chiara Ferragni
- Instagram: @chiaraferragni
- Followers: 29.2 million
- CPE: $0.08
- Type: Human
- Category: Mega
Chiara Ferragni, the fourth-ranked influencer, and the first human among the top 10, is a powerhouse in the fashion industry. Her massive reach and sophisticated brand partnerships are illustrated by earnings of $83,720 per post. Despite a CPE of $0.08, her 29.2 million followers and a 3.40% engagement rate make her partnerships a valuable investment for luxury brands.
5. The Verse Family
- Instagram: @the.versefamily
- Followers: 378,000
- CPE: $0.10
- Type: Human
- Category: Mid
The Verse Family, at rank five, boasts the highest engagement rate among the list at 21.23%. Their exceptional ability to engage audiences in family-oriented content, combined with a cost-effective CPE of $0.10, makes them an invaluable asset for brands in the restaurant industry.
6. Chelsea Bettis
- Instagram: @magicalwandering
- Followers: 118,000
- CPE: $0.10
- Type: Human
- Category: Mid
Chelsea Bettis, ranked sixth, offers a unique view of luxury family travel through her platform Magical Wandering. Her detailed content resonates well within her niche audience, and her focused 3.43% engagement rate with 118,000 followers highlights her as a tailored choice for travel and lifestyle brands.
7. Jeimy Di Ciaccio
- Instagram: @jeimydiciaccio
- Followers: 99,000
- CPE: $0.10
- Type: Human
- Category: Mid
Jeimy Di Ciaccio energizes her audience with a vibrant mix of tropical aesthetics and contemporary fashion, achieving a 4.75% engagement rate. Her dynamic presence on Instagram makes her a compelling partner for fashion brands seeking a fresh, stylish influence.
8. Nick & Madison
- Instagram: @thecapturingcouple
- Followers: 100,000
- CPE: $0.10
- Type: Human
- Category: Mid
Nick and Madison are known for their engaging and authentic storytelling that deeply connects with their audience. Their high engagement rate of 16.55% among their 100,000 followers makes them especially appealing for brands in the travel and lifestyle sectors.
9. Robert Bui
- Instagram: @foodwithbros
- Followers: 126,000
- CPE: $0.10
- Type: Human
- Category: Mid
Robert specializes in culinary experiences and showcases his passion for food on the FoodWithBros channel. His robust engagement rate of 18.44% and a dedicated following make him a valuable asset for culinary brands looking for authentic engagement in the food industry.
10. Mark Wlosinski
- Instagram: @lticapital.finance
- Followers: 278,000
- CPE: $0.10
- Type: Human
- Category: Mid
Mark Wlosinski is a digital financial guru with 278,000 followers. Known for his expertise in money, finance, and investment, he commands a robust engagement rate of 11.81%, with his posts garnering an average of 32,800 engagements. Charging $0.10 per engagement and earning $3,280 per post, Mark offers invaluable insights and advice, making him an excellent choice for finance-related brands.
The following table describes the average cost of Instagram influencer partnerships by category.
Influencer Tier | Follower Count | Compensation |
Nano | <15,000 followers | $500 – $2,000 |
Micro | 15,000–75,000 followers | $2,000 – $8,000 |
Mid-tier | 75,000–250,000 followers | $8,000 – $20,000 |
Macro | 250,000–1 million followers | $20,000 – $45,000 |
Mega/Celebrity | >1 million followers | >$45,000 |
Methodology
To determine the best Instagram influencers brands should partner with in 2024, profiles of influencers were collected and analyzed across five categories: Nano influencers, micro influencers, mid influencers, macro influencers, and mega influencers.
27 AI influencers were included in the study. For human influencers, a random sample of 15 profiles per category was selected.
Data was collected on three key metrics for each profile:
- Number of followers
- Engagement rate
- Earnings per post
These metrics were used to calculate the cost per engagement (CPE), which is defined as the earnings per post divided by the engagement rate.
The CPE metric served as the primary criterion for ranking the influencers. Influencers with the lowest CPE were ranked higher, as they offer better value in terms of cost efficiency for engagement.
Data Sources: Instagram, HypeAuditor, and ITEdgeNews.
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