Facebook Ads Vs Instagram Ads: The Cost And Other Differences
Advertisements are necessary to grow a business. Social media is the place to be if you want to reach a large audience through ads.
Facebook and Instagram are the biggest social media platforms right now. They both share the same parent company, Meta. The potential for brand growth by advertising on Facebook and Instagram is very high. Thus, it is only logical to understand the various platforms you can use to advertise.
It is usually better to advertise on as many platforms as possible. But if you are short on budget, you might have to narrow down your choices. Choosing between Facebook and Instagram is difficult because they are both great platforms.
Let us now see some differences offered by Facebook and Instagram for ad placements. Understanding these differences will help you pick the right platform for your ads.
Benefits Of Advertising On Facebook
With over 2.89 billion users monthly, Facebook is the most popular social media platform. Being one of the most used platforms, it comprises people from all age groups. This alone makes Facebook a great platform to advertise on.
A few benefits of advertising on Facebook are:-
- Audience Refining Tools
- Interactive Features
- Wide Audience Base
1) Audience Refining Tools:-
Facebook offers some outstanding features for targeting your desired audience. You can use audience refining tools on Facebook and customise your target audience. To do so, you must first go to the Audience section on your Facebook Ad Manager. Then, click on Create Audience option and then click on Custom Audience. You will then see a list of custom audiences that you can create.
You can now create an audience based on your current customers or website interaction. We can also create an audience based on the engagement activities of people.
2) Interactive Features:-
Facebook offers some very interactive features that help brands build a community online. Having a community allows brands to interact and engage with people. This helps them get regular feedback from their audience. This helps brands in understanding their audience in a better way.
Since a brand has built a community, selling products becomes easier. It takes less effort for brands to sell their products within a group that already likes them.
Facebook communities are all about building trust and engaging with the audience. People can use this community to ask questions and receive answers.
3) Wide Audience Base:-
With almost 3 billion users a month, Facebook has the highest number of active users a month. People from all age groups use Facebook. This is helpful if you want to cover a wide group audience through your ad.
Facebook ads have a high chance of reaching more people quicker than other platforms. This results in higher lead generation and conversion.
About 70% of Facebook users visit Facebook daily. This is higher than other platforms. With such a huge audience, it is easy to grow organically and generate a good return on investment.
Benefits Of Instagram Advertisements
Instagram is home to over 1 billion users. About 81% of people say they use Instagram to research products and services.
Being a visual medium, Instagram offers some unique advantages. Some of these advantages include:
- Excellent Engagement With the Audience
- Great Option For Ecommerce
- Young Audience
1) Excellent Engagement With the Audience
Instagram offers excellent engagement opportunities with the audience. Being a visually-driven medium, it offers some unique advantages, especially to industries that feature visuals. E.g., the food industry, fashion industry etc. will find Instagram to be a better option for advertisements.
Instagram is all about showcasing the best features of your products to the audience. With visually interesting content, brands are more likely to find success on Instagram than on other platforms. Thus, if you are in a visual-based industry, you are more likely to engage with an audience on Instagram.
2) Great Option For Ecommerce
Instagram offers the e-commerce industry a platform to sell its products. Customers can now pay for their purchases through Instagram. This has made business easy for both buyers and sellers.
People can now set up their shops on Instagram. The Instagram shop has allowed brands to increase the traffic on their pages. The Instagram shop helps brands to target their audiences more directly.
People were already using Instagram for product ideas. Now they can buy their favourite products on Instagram as well.
3) Young Audience:-
More than half of Instagram users are younger than 34 years. This means that Instagram is an excellent option for brands that want to target a younger audience. The younger audience is more likely to take risks than the older audience. This means that the younger audience is more likely to buy a product online. The young audience is also more likely to engage with the brand. This helps brands get more traffic and generate more leads.
Cost Of Advertisements On Facebook And Instagram
The cost of ads on Facebook and Instagram depends on various factors. Some of these factors are target audience, competition, market, gender, holidays and events etc. Regardless of these factors affecting the cost, advertising on social media is considered to be a budget-friendly option.
Advertising on Facebook costs around $5 to $8 for every 1000 people. The CPC or cost per click for every ad is around $0.27. The CPM or cost per thousand impressions is $7.19.
Advertising on Instagram costs anywhere from $0.20 to $6.70. The CPC for Instagram ads ranges from $0.50 to $0.95 while the CPM ranges from $2.50 to $3.50.
Both Facebook and Instagram offer some benefits over the other. If you still cannot decide which platform you should prefer for your ads, you should not be afraid to experiment. Through experimentation, you will find that Facebook is better for some ads while Instagram is better for others.
You will have to use a different strategy for both platforms. With constant changes in algorithms and features of both of these platforms, they are becoming more and more similar to each other.