Before you start advertising online, you might be curious about Instagram ads vs Facebook ads cost and what types of products performs best with these individual platforms. Also, how do you reduce your Instagram and Facebook ad costs? Let’s find out more in this article.
What are Instagram Ads?
Instagram Ads are a type of visual advertising that allows businesses to promote their products or drive awareness on the Instagram platform. Ads are typically displayed in users’ feeds as they scroll through their content. Instagram Ads can be targeted to a specific audience, and businesses can choose to run them on a pay-per-click or pay-per-impression basis.
Instagram Ads have been increasing in popularity over the past few years. The use of hashtags and other relevant keywords has made it easier for businesses to target potential customers on the platform.
However, running an effective Instagram Ad campaign can be costly. Businesses need to pay for ad space, and they also need to pay for the creative content that goes into the ads. In addition, businesses need to pay a fee for each click that their ad receives. As a result, running an Instagram Ad campaign can be a significant expense for businesses. However, the potential reach and engagement that Instagram Ads offer make them worth the cost for many businesses.
What are Facebook Ads?
Facebook ads are a form of advertising that can be seen on the Facebook newsfeed. Facebook ads can be in video or image format. Ads can be targeted based on interests, demographics, and even behaviors.
For example, a business could target people who live in a certain city and who are interested in travel. They could also target people who have recently engaged in travel-related activities, such as searching for flight deals or looking at hotel reviews. Facebook ads are an effective way to reach potential customers because they allow businesses to specifically target people who are most likely to be interested in their products or services.
You can use Facebook Ads to achieve a variety of marketing goals, such as increasing brand awareness, generating leads, or driving sales. It is a relatively low-cost way to reach a large audience, and it can be an effective tool for achieving your marketing goals.
Instagram Ads vs Facebook Ads Cost
Instagram Ads Cost
Instagram ads are a great way to reach potential customers on the platform. But how much do they cost? The answer can vary depending on your ad budget, ad goals, and target audience.
The cost of Instagram ads can vary depending on a number of factors, including the target audience, the ad format, and the desired CPM (cost per thousand impressions). On average, Instagram ads cost about $0.20 to $2.00 per view.
For example, a brand targeting young adults might pay a higher CPM for an ad that appears in the feed than an ad that appears in a story. Similarly, an ad with a high degree of interactivity (such as a carousel ad) would likely cost more than a static image ad. Ultimately, the cost of an Instagram ad is determined by how much the advertiser is willing to pay to reach their target audience.
However, businesses should keep in mind that Instagram users are generally receptive to ads, so even a mid-range CPM can result in significant engagement.
Tips: By using auto bids on Instagram, you can bid higher and reach higher quality users who are more likely to buy your products as Facebook has the data of users who are shoppers.
Facebook Ads Cost
The cost of Facebook Ads varies depending on a number of factors, including the country where the Facebook Ads are being shown, the type of ad, and the desired audience.
For example, ads targeting people in the United States tend to cost more than ads targeting people in other countries. The reason for this is that Facebook Ads in the United States are shown to a larger audience, and hence there is more competition for ad space.
Additionally, the type of ad also affects cost, with video ads typically costing more than static image ads. Finally, advertisers can target their ads to specific audiences, and this targeting can impact the cost. For example, ads targeting parents are likely to cost more than ads targeting people without children.
So which platform is cheaper to advertise on – Instagram or Facebook?
The answer, it turns out, is Facebook. Instagram Ads cost an average of $5.97 per thousand impressions (CPM), while Facebook Ads cost an average of $5.64 per thousand impressions (CPM). That means that, on average, you’ll pay slightly less to advertise on Facebook than you would on Instagram.
Of course, there are other factors to consider when choosing which platform to advertise on. But if cost is your main concern, then Facebook is the way to go.
Tips: If you know who your target customer is, you can create ads that are more likely to appeal to them, resulting in a higher Click-Through Rate (CTR). A higher CTR will result in a lower CPM and drive your ad cost down significantly. So keep testing multiple versions of ads to see which ad gives your the best CTR and lowest CPM.
Why Are Instagram Ads More Expensive Than Facebook?
Several factors influence the cost of Instagram ads, including the platform’s user demographics, the type of ad you’re running, and the level of competition for ad space. Here are some reason why Instagram ads are more expensive than Facebook.
- Visual Platform: As a visual platform, Instagram is incredibly popular with users who are interested in fashion, beauty, travel, and other aesthetic-focused interests. This means that businesses that want to advertise on Instagram need to invest in high-quality visuals, which can be costly.
- Audience Size: Instagram has a smaller user base than Facebook, which gives advertisers less opportunities to reach their target audience. As a result, they have to pay more to reach the same number of people.
Younger Demographics: Instagram users are typically younger and more affluent than Facebook users, making them more attractive to luxury brands and other advertisers who are willing to pay a premium for access to this demographic.
- Deeper Pocket: Additionally, Instagram users are generally wealthier and more engaged than Facebook users, which makes them more valuable to advertisers.
So if you’re looking to save money on your ad spend, Facebook is the better platform. But if you’re looking to reach a wealthier, more engaged audience, then Instagram is the way to go.
To Wrap Things
Instagram and Facebook Ads can both be effective for businesses, but there are some key differences in cost. It is best to test both platforms out to see which platforms perform better for your products. Lower CPM cost doesn’t guarantee you customers, you might find more success by targeting quality customers with higher CPM.