Note from Mack: This is a guest post from AdEspresso by HootSuite. If your company would like to publish a guest post here, please email me!
There’s no getting around it. Visual social networks, like Instagram and Snapchat, are ruling the social media roost right now. For brands, Instagram has become a cornerstone of their marketing strategy. Research has shown that brand engagement on Instagram is astronomical compared to Facebook. Furthermore, the generations that succeed Millennials have shown less interest in Facebook — with swathes of Gen-Z opting to skip Facebook altogether in favor of social networks like Instagram.
So if you want to set up your next advertising campaign on Instagram, how much is it going to cost? That’s the question posed by Hootsuite’s AdEspresso, who analyzed $100 million dollars worth of Instagram ad spend to evaluate what influences cost per click.
They made some remarkable findings.
Instagram’s CPC is highest on Sunday, lowest on Tuesday
While it’s been common knowledge for a while that retail performs best over the weekend, it’s interesting to note the particular spike for Instagram’s CPC on a Sunday.
Apple devices are up to 50% more expensive to target
iPhones are by far the most expensive device to target on Instagram, and even the iPad outpaces standard Android smartphones. Why? In theory, Apple users have spent more money on their device, and therefore may be more apt to splash their cash on high-end brands.
Commercial breaks matter on mobile
AdEspresso noticed a curious spike in CPC during 2017’s Q2 among a usually low Instagram demographic; young males aged between 13-17. They realized that the spike occured during March Madness and the NBA playoffs. The NBA is the most popular sport with young men, and NBA star, LeBron James, has more fans on the social network than the NFL, the Patriots, and Tom Brady combined.
Multiple studies have confirmed that when big televised events go to commercial breaks, viewers are tuning out. But not by changing the channel; they’re scrolling through Instagram or Facebook instead.
To learn more, check out AdEspresso’s infographic on the cost of Instagram ads below: