Ask HN: What is your CPM Target when working with Influencers?

[JanSchu]

We are in the process of rolling out our first influencer campaigns (saas finance niche). However, the prices that are being asked of us are simply mind boggling. For a normal in-post feed on Instagram the influencers that we have contacted, ask for prices that convert into a CPM between $35 to $75.

I have to admit that we do not know yet the sales results, but such high CPMs make my head spin from a performance marketing perspective.

Do you have similar experiences? Since for such high CPMs, the conversion rates have to be extremely good to justify the spend.