While Instagram continues to gain popularity, many of us seriously think about the development and promotion of their accounts, along with the services. This is especially true for those whose business is related to clothing (fashion, sports), cooking (restaurants, cafes), photography, tourism, and others. And before you buy any advertising, the question arises: what is Instagram advertising cost?
What are the types of advertising available on Instagram?
Opinion leaders, bloggers, micro and macro-influencers
You can order an advert from an influencer, that's called influencer marketing. The growing popularity of such a promotion tool as advertising among bloggers undoubtedly deserves attention. Many b2c goods and services, online stores, restaurants and bars, fashion brands, handmade masters, and private specialists successfully advance through blogs. Now you can find ads of both small startups and huge super-successful brands on blogs.
This is a promotion from popular groups on Instagram. The format of the work is similar to interaction with opinion leaders.
It's easiest to сhoose them through exchanges. Such groups are always there because their initial goal is monetization. However, such publics are faceless and have no potential for personal influence on sales. Thus, hope for cool native integration does not make sense.
Targeted advertising on the Internet (on sites, in social networks, etc.) is one where you can choose to which audience you will show it. Gender, age, place of residence, interests - all these parameters can be configured in targeted advertising.
The main advantages of targeted advertising:
- You can quickly set up and run the ad (no need to waste time negotiating with a blogger)
- there is no "human factor" (a blogger can do his job poorly or cheat and not publish an advertising post at all)
- flexible setting of the audience that will see the advertising post (all information about users is pulled from their profiles on Facebook)
- full control over the timing and how much it will cost
- detailed statistics (how many people saw the ad, how many followed the link, etc.)
How much does it cost to advertise on Instagram?
How much do Instagram ads cost? It depends on the type of advertising.
The cost of advertising from influencers
The price of advertising on Instagram is always set at the discretion of an account owner. Even having the same number of followers, with the same statistics, the cost can vary significantly.
Advertising on a lifestyle blog is cheaper than on a blog about business. Think about it - finding 100,000 teenagers on a blog is much cheaper for a blogger than even 10,000 professionals aged 25-35. Therefore, you need to compare advertising prices with bloggers from one niche.
On average, Instagram advertising cost starts from $200 for 10,000 followers in the account. These are the prices of lifestyle bloggers (healthy, fitness, cosmetics, style, travel, etc.) with a young audience. They are the ones who sell ads most actively in their account, and these blogs are suitable for goods and services that sell well on Instagram - clothes, cosmetics, accessories, English courses, etc.
Cost of Instagram advertising from groups
In this case, the price tag is more modest, but the efficiency is lower as well. Each group sets its own price list.
Instagram promotion cost: Targeted advertising
You set the cost of such advertising yourself when you set your targeting. In any case, you will not spend more than the established budget. Minimum budget - a couple of cents.
When you target your audience (age, interests, place of residence), Facebook will offer you two options for advertising reach (the wider the reach, more expensive, the narrower, the cheaper). Or you can offer your budget. If you have a "rich" audience (for example, women over 30 with interests in "luxury cosmetics"), but at the same time you set a small overall budget, then few people will see your ad. Therefore, for maximum coverage, set prices in the range that Facebook offers while setting targeting. Do not worry, immediately after the start of advertising all the money will not be debited. A post-pay system works on Facebook - first, the advertisement is unscrewed, then the money is charged off from the card.
Of course, I want to figure out in advance how much the advertisement will cost. But in each case, the cost of advertising in the Instagram feed will be different, and you can estimate the budget without even entering the card details for payment and finding out the cost will not cost you anything. Target and see an approximate price. The general rule is that the richer the audience, the more expensive the advertisement. Also, the more competitors, the more expensive.
How to measure the effectiveness of your advertising campaign?
Have you heard about ROMI? This is the return on investment in marketing projects. The higher it is, the more efficiently and successfully your ad has worked.
The fact is that it is wrong to estimate the effectiveness of advertising in the cost of the follower.
Usually, you strive to get sales, and not just earn popularity and become a star (although this is also great!).
The calculations are simple:
ROMI = ((net profit - Instagram advertising cost) / Instagram advertising cost) * 100%.
If you use different promotion channels, it will be easy for you to compare the effectiveness of advertising among bloggers, in public groups, targeted advertising on Instagram, advertising on other social networks and so on.
It turns out that a few blogger followers can come to us, but the profit from their orders will be higher than, for example, from targeted advertising on Instagram, although it has attracted more users to your account. To count numbers of new followers means incorrectly assessing the real effectiveness of a particular promotion tool.
Now you can see the real picture of how your ad working.
I would advise trying all the types of advertising on Instagram, carefully measure the effectiveness of each of them, and decide for yourself which one generates real profit. Then, you will gain real success in any niche you represent. Hey, good luck!