How much do Instagram Ads cost and are they really worth it? Instagram has over 1 billion active monthly users. This social media giants owned by Facebook provides a great opportunity for your business to connect with leads interested in your products or services. With Instagram ads, you can reach even more leads and grow your business. But how much does it cost to advertise on Instagram? Instagram offers the same PPC advertising model as Facebook Ads.
How much do Instagram Ads cost?
This means that you only pay when someone actually clicks on your advert. However, there are other options such as CPM and CPA – but the most common one that we tend to use is CPC. On average, businesses can expect to pay between $0.20 to $2.70 per click on Instagram. How much your company pays will depend on your bidding model, like CPC or CPM, and how well Instagram scores your ad. Facebook and Instagram are two of the biggest social media networks available for advertising.
But which one is cheaper and better for your business? Which offers the most cost-effective option for your business, as well as the best platform for reaching your audience?
This depends entirely on your audience. Different audiences will command higher prices per click as competition will vary depending on the niche you are trying to target. However, it is helpful to know that there are clear differences between Instagram and Facebook. For instance, Facebook’s audience is preferred for B2B marketing due to the fact that Facebook’s audience is slightly older than that of Instagram. Instagram has an audience of which comprises mostly of people between the ages of 18-29 years old. It is also a highly visual platform and Instagram’s algorithm loves videos.
So if you are planning to use Instagram Ads and you’re wondering “how much do Instagram Ads cost?” – the first question you should ask rather is “Is my target market on Instagram?”. If your target market is on Instagram, the most cost effective ad format would be video and story ads. This is due to the fact that video marketing is taking over as more people prefer to absorb information via a video rather than articles, images and statuses.
So now that we have answered “How much do Instagram Ads cost?” – let’s move on to our last question.
Are Instagram Ads worth it?
Yes indeed they are and here are 4 benefits to substantiate this claim:
1. High Click Through Rates
Although you can split your ad spending between networks, Instagram appears to offer the best value when it comes to CTRs. Latest studies have shown that Instagram ads hold a CTR that is 2.5 times higher than other social media networks.
Instagram has impressive engagement rates relative to other networks. Instagram leads the way when it comes to engagement rates, offering ten times the Facebook commitment rate.
When you have people who join in a network, it makes it possible for your company to profit from ads. If you can build ads that target the right people, you can get them to click on your ad, like your website, or to purchase your product.
2. Advanced Options For Targeting
Instagram has a user base of almost 1 billion people worldwide. This offers companies the ability to minimise their targeting to a granular level, with so many that you can use these targeting choices, from place to interest, to generate a higher return on your advertising. Instead of targeting anyone who is interested in sports , for example, you might limit that interest to people who are interested in power lifting.
3. Enhanced Brand Recognition
Another great reason to start using Instagram paid ads is to raise brand recognition in a broader audience. With so many active users on the web, more people will be aware of your brand.
When people notice your brand more and more, it builds popularity and helps you gain the confidence of your target audience. Approximately 80 percent of Instagram users follow at least one brand account, and these users are likely to shop with you.
When you post eye-catching and engaging content, these users are more likely to follow and hang around.
4. Measurable Results
When you set up an Instagram ads campaign, you don’t need to just sit back and wait for the results. You can track the progress of your campaigns in real time and obtain valuable insights that can benefit you further.
You will have access to metrics that will remind you of which campaigns have the best engagement. It will also inform you how many sales and leads have been converted, and how much you have spent / made on your campaign.
This means that if you continue to use Instagram paid ads, you will make improvements to get better results.
If you have been wondering “how much do Instagram Ads cost?” we hope that this article has been helpful. If you’re interested in boosting revenue, building brand awareness and improving customer retention then get in touch with us for a winning Instagram Ads campaign.