Instagram is a relatively new social media platform. But with over 800 million active users, it’s growing rapidly and isn’t showing signs of slowing down! There are several important benefits to adding Instagram advertising to your digital strategy. Forrester’s research, for example, shows that users are more likely to engage with brands on Instagram than on any other social media network.Source, SproutSocial
So how much does Instagram Advertising cost?
Advertising on Instagram is also quite affordable, especially when you know what targeting options are going to give you the highest returns! The cost of an Instagram ad is influenced by many factors such as the ad quality & relevance, the time of year and your selected audience.
Did you know that targeting a particular age groups affects the cost-per-click? The most expensive age groups currently being 18-24, 25-34, and 35-44 year olds.
There’s also a big difference when it comes to targeting men or women.
Turns out that targeting Android users might save you a bunch of money too.
Source of above three images, AdEspresso
On average, the cost-per-click is much lower than that of paid search platforms like Google AdWords. AdEspresso analysed more than 100 million dollars of ad spend on Instagram in 2017 and found that the average cost-per-click was only around 75 cents.
This goes a long way considering that Instagram posts have a high conversion rate of 1.08%, compared to 0.77% for Twitter and 0.54% for Pinterest, though slightly lower than Facebook’s 1.85%. A marketing report by Shopify also revealed that Instagram users spend $65 on average per referred sale compared to $55 on Facebook and $46 on Twitter. When it comes to getting bang for your buck, advertising on Instagram had proven to be a viable option!
No need for a huge follower base
It’s clear that the platform is all about attractive imagery, and companies that aren’t in the arts, food or fashion industries often struggle to generate a regular stream of Instagram-worthy posts. As a result, not everyone succeeds in building up a decent amount of followers in an organic way.
Sponsored content, on the other hand, allows all kinds of companies to easily get their posts in front of their desired audience via targeting, without needing a huge follower base for themselves. And it works! A study by Instagram shows that 60% of users say they discover new products on the platform and a further 75% report that they do something about it.
Have we convinced you that Instagram advertising could be a great add-on to your online strategy? We hope so! By the way, if you’d like some help setting up or running your Instagram advertising campaigns, send us a message. We’d love to help!