Social media marketing is a complicated endeavor when it's free, but the introduction of paid advertising has it made all the more complicated. Trying to achieve digital marketing goals while staying within a budget can be difficult, but not impossible.
The cost to advertise on Instagram differs, of course, so giving the definitive answer to that question is often difficult. But here are some things to keep in mind as you wade through the different options Instagram has to offer:
1) The cost of your ad depends on your demographics
Instagram is known for its hard-to-capture demographics, and that is usually a significant decision regarding cost. Generally, an average ad cost-per-click ranges between $0.70 and $1.00. However, that range is hugely dependent on the age groups being targeted - generally, coveted demographics such as 18-24 tend to be the priciest.
2) Test your ads
The cost associated with an ad might be your focus, but there are other factors that you must look at. The investment in your ad should be spread out by testing different types of content, times, and other elements to understand what works best for your feed. Tweaking these factors might take some time, but it will help you plan a more laser-focused marketing strategy.
3) Understanding cost-per-click vs. impression
Knowing the difference between these two categories, how Instagram defines them and what works for your content is pivotal to your strategy. Essentially, what you need to ask yourself with your advertising efforts is: "Do I want people to click on this?" or "Do I want people to look at this?"
There is value in both these efforts, but knowing when to pick which option is what makes your digital marketing strategy effective.
Advertising on social media platforms such as Instagram can be difficult to surmise, especially in the beginning. To learn more about advertising on Instagram, best practices, and how to get a return on investment, contact us today.