How much do influcencers get paid to post ads? ad prices and CPM's

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According to estimates from Emarketer, social influcenr marketing may be more than a billion dollar industry now, with advertisers spending over $500 million on instagram alone. Agency whosay, who provided the research highlighted in this post, said that the best engagement are not always the most expensive, citing tier 2 and tier 3 influencers as yielding better value for the spend, even though CPM's are higher.