How Much Do Instagram Ads Cost In 2017?
Should you bother with advertising on Instagram? Yes — here's why, and how much it will cost you.
When it comes to advertising trends in 2017, the buzzword on the lips of every digital marketer seems to be “visual.”
Visual ads, visual social networks, visual messaging — if it’s not visual, it’s over. As a result, advertising and marketing agencies are flocking to Instagram and Snapchat in droves. It’s not for naught that brands are investing more and more into Instagram.
Instagram’s engagement numbers have left marketers starry-eyed since 2014, when Forrester reported that brand engagement on the ‘gram was markedly higher than Facebook. In fact, user interactions on a brand’s Instagram post punched in a 4.21%, compared to a paltry 0.07% from Facebook.
Recent studies have only produced more good news for brands looking to expand on Instagram. By 2020 those born after the mid-nineties, named Gen-Z, will occupy 33% of the world’s population. As they morph into the next major consumer group, digital marketers and big brands alike will have to seriously reshuffle their strategy in order to keep up to date with a generation that has an attention span of just eight seconds.
But you don’t need to tell major brands that twice. Currently seven out of ten hashtags on Instagram are branded terms, and 70% of U.S. businesses have already adopted a presence on Instagram.
But if you haven’t already converted, you’re probably asking yourself one big question. How much do Instagram ads cost?
The answer is the same no matter where you’re trying to advertise: that depends.
AdEspresso recently crawled through $100 million dollars worth of Instagram ad spending in 2017 to analyze what influences cost-per-click. You can view their findings via the infographic below: