Instagram has over 800 million active users. Many of these users are scrolling through their feed all day, every day. How can your business take advantage of that? The best way to reach a larger and more targeted audience on Instagram is through ads. Instagram advertising campaigns differ from paid search because it allows you to use images or videos to reach your audience, as opposed to just using text. Instagram ads are used by businesses and individuals to gain brand exposure and website traffic, generate new leads and move current leads down the funnel.
According to Instagram, 60% of people say that they discover new products on their platform.
But how much does it cost? The average Instagram ad has a cost per click (CPC) of around $0.50-$1.00. However, in highly competitive industries, the cost can be up to $3 per click. Besides industry, gender and age can cause a wide variation across Instagram marketing campaign costs.
Types of Instagram Ads
1. Photo Ads
A photo ad is one photo in square or landscape ad format. Since you only need a single image, these are the simplest ads to create in terms of visual assets. Photo ads can be used to portray your brand story through a beautiful, simple, and clean canvas. If you have already crafted top-notch content, Instagram photo ads give you the opportunity to share them with more people.
2. Video Ads
Video ads can be shot in landscape or square format and can be up to 16 seconds long. Video ads are a great way to promote a new promotion or highlight various products. Recently, there has been an 80% increase in time spent watching Instagram videos. The best-performing video ads use content that captures viewers’ attention and is useful to them, rather than pushing a purchase.
3. Carousel Ads
An Instagram carousel ad consists of up to ten images or videos that users can view by swiping through. Carousel ads are a great way to highlight a range of different products. Furthermore, you can tell a story about your band that develops across each carousel card. Companies use Instagram carousels for everything from self-promotions to user-generated content.
Slideshow ads are similar to video ads because they appear as a video in users’ feeds. However, the video is made up of a series of still images that play as a video. Text and audio can be added to your slideshow ads. These ads are a great way to show multiple styles of the same or different products.
5. Stories Ads
Are you trying to reach new audiences and showcase your brand, business, and/or products? Instagram stories ads are the newest kind of ads available on the platform. Stories ads allow brands to share photos and videos that are only available for a short amount of time. Instagram stories have high engagement rates and one in five stories gets a direct message from viewers.
Tips to Set Up a Successful Instagram Ad Campaign
1. Set objectives
Setting up your campaign objectives is crucial because it sets the desired goal of your ads, whether that is increasing brand awareness, making sales, or generating traffic. The objective you choose will influence how your ads are optimized and how you pay for them. If your objective is to sell products or to run a remarketing campaign, then you will need to install a facebook pixel (on your Facebook page) first.
2. Target the right audience
Facebook and Instagram have four main audience targeting options: Saved Audiences, Custom Audiences, Lookalike Audiences, and Value-Based Lookalike Audiences. Saved Audiences should be used if you are just getting started with advertising on Instagram. If you want the most high-value Instagram target audience, then you should use Custom Audiences. And Lookalike Audiences let you reach people who are most similar to your existing customers--which makes them highly likely to convert.
3. Work with influencers
Instagram ads and influencer marketing go hand in hand. Instagram influencers have a highly engaged user base, therefore making it easy to reach your target audience and to get your message seen and heard. Instagram’s user base responds well to sponsored product posts--in fact, 65% of the top-performing Instagram posts feature products. Before you start your influencer ad campaign, make sure you set clear goals and key performance indicators (KPIs).
4. Create your first campaign!
Are you ready to get more sales from your feed and grow your Instagram account? After you have planned, tested, and created, it is time to launch your first Instagram ad campaign through Facebook ad manager. The most successful Instagram campaigns focus on understanding what factors Instagram's users are looking for. Once you have a deep understanding of your audience, your successful Instagram campaign will follow.
Instagram ads can get high levels of conversions as long as your ad is optimized for them. Once you know your target audience, it is easier to engage with them and optimize your return on your Instagram ads. You must constantly test different ad copy and creative on your social media if you want to continue improving your return on investment. Using our tips and tricks, you should be able to rank higher than your competitors and get the results and return you are looking for.