How much does it cost to advertise on Instagram
Instagram has become one of the most influential digital advertising platforms due to its popularity among social media networks. Through Instagram ads, brands can create brand awareness among over 1 billion active monthly users. Among these, more than two million people can be reached with ads on Instagram in Singapore, where 62% of the population uses it. Using this platform, you can expand your market reach if you hire the right company for social media marketing in Singapore.
In this article, we will give you a comprehensive overview of how much Instagram advertising costs and how social media marketing companies in Singapore can help manage ads and increase lead generation.
How Much Do Instagram Ads Cost in 2022?
Cost-per-click (CPC) and cost-per-impression (CPM) are the two bidding models that determine Instagram advertising costs. The average cost per click of Instagram Ads in Singapore is S$2.05, and the average cost per impression is S$8.08 in Singapore. Though there are two bidding models to determine Ad costs, a few factors influence this cost too. Let’s read more about the factors determining your Instagram advertising costs.
- Bid amount
When it comes to Instagram ads, your budget and bid amount are the most significant factors. These variables highly depend on how many clicks your ad will get. When choosing your ad, you should estimate the daily budget you are willing to spend. IG advertising algorithms are more like an auction. The higher your per click or impression, the more it will promote your ad.
- Estimated action rates
Estimated action rates are the user interaction percentage on your IG. A decent ad catches the eye of the user and facilitates them to take action. Therefore, your ads should be attractive and influential enough so potential customers can click on them.
- Market competition
With over a billion users, there are millions of business profiles too. That makes the competition on Instagram fierce. In order to catch the attention of maximum users, your ad must appear more, so you need to set a higher bidding amount than your competitors.
- Ad relevance score
Instagram also evaluates your advertisement’s relevance based on how your target audience interacts with or reacts to it. The more clicks, likes, and comments your ad receives, the more relevant it is to IG.
Instagram Ads Cost: How to Spend Less in 2022
The best way to monitor and lower your spending on Instagram advertisements is to select funnel-appropriate campaigns. It is better to have less budget for ads at the initial testing stage if you are advertising bolder or unique products or services for prospecting audiences. Automatic placements can also help you spend less on ads as it gives you more liquidity of placements, determines the best places for your ads, and increases the number of times your ad appears to users.
Summary – Instagram Ads cost
Give a chance to Instagram ads and see how it works compared to other social media platforms. The lowest initial cost and hefty returns of Instagram ads make it worth trying. If you want to leverage Instagram ads for your business, you can take help from professional social media marketing companies in Singapore.
1. What is the minimum daily budget required for Instagram Ads?
The minimum daily charge for ad sets is S$0.4-S$0.7 per impression. It is necessary to have a minimum daily budget of S$5 for ads charged for clicks, post engagements, likes, and video views. If you want to do low-frequency activities, such as claim offers or app installs, you should have a daily minimum budget of S$40.
2. How much does it cost to advertise on Instagram per month?
Your daily or monthly budget on Instagram depends on your targeting and the types of Ads you are running on your platform. On average, users expect to spend S$300 to S$600 per month to advertise on Instagram.
3. Is it worth it to invest in Instagram advertising?
Advertising on Instagram is inexpensive compared to other social media platforms. This platform can therefore be helpful at a minimum for testing the response of your audience to run a basic ad. Moreover, only one dollar per day will be needed in the budget. Therefore, spending money on Instagram advertising or hiring a professional team for social media marketing in Singapore will be worth it.
4. How many Ad placements options are available on Instagram?
There are two Ad placement options that Instagram offers: Automatic and Manual placement options. In the automatic ad placement option, the Instagram algorithm will automatically choose the audience as per their interest. On the other hand, the manual option lets you determine the specifics of when and where your ad will appear. It is better to choose an automatic option as it maximizes your ad delivery and optimizes your budget.
5. Can we advertise on Instagram for free?
If you choose influencer marketing and paid promotions, it will obviously cost you money. But, if you are just starting up your influencer profile on Instagram, you can use it wisely and still earn a lot of followers. You can increase your engagement through useful posts, stickers on Instagram stories, hashtags, and more. Make sure you have a Business profile on Instagram. Then only you can reach out to a larger set audience.