According to Keith Baumwald, CEO of boutique consultancy Leverage Consultancy, Instagram marketing ad spends are often somewhat higher than their Facebook counterparts.
According to Baumwald, “you’re probably paying more than $5 a CPM” (cost per thousand impressions) with precisely focused ads on Instagram.
According to Timothy Masek, (senior growth strategist at marketing agency Ladder), whenever Facebook tries to introduce a new advertising function, such as a new creative type or a new audience type, the CPM costs less to make the tool more accessible. Happens on And appealing to advertisers.
“While the average CPM on Facebook ads nowadays is around $10, it was closer to $5 on Instagram,” Masek explained. “Today, the gap is getting smaller and smaller. This meant that advertising on Instagram would immediately be more cost-effective for marketers – in fact, it would be twice as cost-effective.”
Basics of Advertising Costing
“Just like the first banner ads on the web had a CTR of 44 percent and today’s banners have a CTR of 0.1 percent,” he said, “users have become accustomed to the ads in their Facebook newsfeeds and started clicking less on them.” “So when Instagram started running ads, not only were they cheap, but click-through rates were skyrocketing.”
According to Damon Gochnoor, founder of digital marketing consultancy Aspiro Agency, the specific cost of advertising on Instagram varies greatly depending on the type of ad, target audience and creativity employed.
“In general, single image ads will be the most expensive,” Gochnaur said, adding that carousels or multiple image ads work better than single image ads. “Video ads, on the other hand, often outperform both single image and carousel ads. Plus, the demographic you’re targeting will have an impact on the cost of the ad.”
1. Don’t be obsessed with your advertising material.
Because Instagram users can’t schedule postings, Patrick Heavy, social media manager at Passion Digital, believes candid photos do well.
“If users feel like they’re looking for something new and authentic, they’re more likely to want to interact with your business and treat them warmly,” he said. “User-generated content can be extremely effective in establishing a two-way contact between a company and its customers.”