Using the Instagram Ad’s service can expose your content to a larger audience of previously untapped consumers. It’s a great way to promote your brand to new Instagrammers and gain followers.
To use the ad program, you’ll need to connect your Instagram business account to your Facebook account. Doing this will enable you to actually create your ad using Power Editor on Facebook. Go to your settings within Facebook and click Instagram Ads and then Add An Account. Add your Instagram account and click confirm. Once you confirm the connection of your two accounts through e-mail you’re ready to begin.
You can create ads to run on Facebook using Power Editor and promote them on Instagram. You’ll choose from three objectives for your ad campaign from click to your website to mobile app installs and video views. Select the objective that you wish to complete with your advertisement. Then, you’ll want to be sure you target a relevant audience base. You can set your preferences by categories like location, interests, demographics, actions, and others. You can be as broad or as specific as you like, but keep in mind that you want to focus in on the specific people who have the highest potential to become customers of your brand.
Of course, the ability to promote your content to a wider audience comes at a cost, and understanding that cost is good business practice. Knowing the difference between your budget and your amount spent when setting up your Instagram ad is an important distinction. Your budget is the amount of money that you have decided to pay in order to run your ad for a specific period of time. You will set the budget for each set of advertisements you create. Another way to look at this concept is to understand that you aren’t paying for the ad or even the ability to publish your ad via Instagram’s platform. Instead, you’re letting Instagram know how much money you’re ready to pay them to show your ads users within your targeted demographic. The amount spent is the term given to the actual amount of money that you pay from the budgeted amount on the Instagram ad. You ideally want to spend most (or all) of your budget, because this means that your ad was shown to the maximum amount of Instagrammers whose demographics are relevant to your brand’s products or services.
There are further options within the Instagram Ads program that enable you to set the pace for the delivery of your ads at different costs based on your marketing campaign’s needs. Pacing your ad delivery is standard and generally delivers your ad at a steady rate to users over the timeline of your campaign. This delivery system maximizes results while keeping the cost down. By choosing the accelerate the delivery of your ad, your promotion will be delivered as quickly as possible, even if it means choosing speed of delivery over efficiency. Deciding whether your campaign is time-sensitive or if it relies more heavily on correctly targeting the right demographic will enable you to select the best delivery system for your marketing campaign.
Other costs it’s helpful to understand are performance costs like the click-through rate, cost per click, and cost per 1,000 impressions. The 2016 Nanigans Instagram Advertising Benchmark Report showed performance costs associated with the Instagram Ad program as follows:
Click through rate: 0.4 percent. This term denotes the percentage of people who see your ad and click it.
Cost per click: $1.41. This term indicates the amount of money you pay every time your ad is clicked by a potential customer, usually routing them to your website and product ordering information.
Cost per 1,000 impressions: $5.68. This indicates the amount of money it will cost you to present your ad to 1,000 Instagram users, regardless of what action they take upon the ad. In this case, they may view your ad but not click to reroute to your website and never buy anything from you, but you’re paying for the opportunity to showcase your ad to them.