How Much Do Instagram Ads Cost?
According to a report by eMarketer, worldwide spending on digital ads will reach $335.5 billion in 2019. This is an increase of almost 16% from 2018. As the spending on digital advertising continues to grow, you might be wondering how much do Instagram ads cost? The answer isn’t as simple as you might think.
Instagram ads are one of the most cost-effective ways to reach your target audience. The average cost per click (CPC) for an Instagram ad is $0.70, and the average cost per thousand impressions (CPM) is $6.70. The cost of an Instagram ad depends on a number of factors, including your targeting options, the type of ad you create, and the amount you're willing to spend. You can create an ad on Instagram with a minimum budget of $5 per day.
Types Of Instagram Ads
There are nine types of Instagram ads: carousel, video, story, photo, collection, Slideshow, Canvas, Instant Experience, and Playables. Out of these nine, three are video ads, two are story ads, and one is a playable ad. The remaining three are a mix of photo and video.
Instagram is a popular social media platform with over a billion users worldwide. While it started out as a way to share photos and videos with friends, it has since evolved into a powerful marketing tool for businesses.