In many ways advertising on Instagram is the same as advertising on Facebook. This shouldn’t come as a surprise, with Instagram being part of the Facebook network. We recently covered how to work out the cost of your Facebook ads. This article shifts the focus to Facebook’s very visual, rapidly increasingly popular sibling, Instagram. Just how much does it cost to advertise on Instagram?
As with Facebook, there is no set price for advertising on Instagram. You create a bid for your ad’s placement. In theory, Instagram will place the ad of the company that makes the highest bid for any particular advertising slot. In reality, it is much more complicated than this, and you can not guarantee that Instagram will accept any ad you provide and serve it on the Instagram accounts you bid for. There is more to obtaining a spot for your ad than just making the highest bid.
You can expect that you will have to pay somewhere between 20 cents and $2 per click (CPC) on an Instagram campaign. If you prefer to run your ads on a cost per mile(CPM) basis, focusing on impressions, then you are likely to pay around $5 per 1,000 visitors on average.
Marketing Land carried out a survey in 2016, showing comparative costs for a mobile app install ad on Facebook vs. Instagram. They found that Instagram had a click-through rate (CTR) of 0.8%, compared to Facebook’s 0.6%. The CPM for Instagram was $5.14, similar to Facebook’s $5.12, but the CPC at $0.61 was considerably smaller than Facebook’s $0.80.
Instagram advertising has increased markedly over the last few years. In March 2017 they enjoyed their 1 millionth advertiser.
How much does it cost to advertise on Instagram?
Quick answer: The average Instagram ads CPC (cost-per-click) is around $0.50 — $1.00.
You will pay more in highly competitive industries, e.g. apparel. Instagram ads cost can reach up to $3.00 per click.
Instagram and Facebook are inarguably two of the largest and most effective social media platforms accessible for advertising today. However, have you ever wondered about the difference in the cost of advertising on Facebook and Instagram? Which of the two is the most economical medium for your business and which is the most ideal platform to reach your target audience?
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