Week 7- MKTG 3349- Instagram

 


   Instagram is a well-known social media platform owned by Facebook with a record 4.9 billion users globally, it is expected to jump to 5.85 billion users by 2027. (Wong) This platform is very visually orientated and is mostly used by a younger demographic. According to a research study by Maryia Fokina, she states that more than 35% of millennials admitted to being heavily influenced by social media when making purchases. Instagram is notorious for influencers, and many businesses often seek out these people in the hope that their products will become a trend. Therefore, when a person sees their favorite influencer representing a brand, they are likely to purchase any merchandise. QuayClick's Nick Frampton states that "For every $1 invested in influencer marketing marketers can expect an average ROI of $5.20."
    
    According to LYFE Marketing "71% of U.S. businesses are now on Instagram and with an average of 800 million users active monthly this is where businesses want to be." The average PPC cost for an Instagram ad ranges from $0.40 to $3.00, but it depends on the competitiveness of the industry. While businesses are expected to pay for each click, Instagram uses a pay-per-impression method where based on a scale Instagram will only deliver your ads to people that are most likely to click on it. There are different types of ads on Instagram they include photo ads, video ads, and the use of reels. To get a lot of attention for your ads, you must make your campaign eye-catching and relevant. Target is a great example of producing great content on Instagram. They make their ads look authentic as if it was just another user raving about a product. (Storm).

Belle Wong, J.D. “Top Social Media Statistics and Trends of 2023.” Forbes, Forbes Magazine, 11 Dec. 2023, www.forbes.com/advisor/business/social-media-statistics/#source. 

Frampton, Nick. “Running Pay-per-Click Campaigns on Instagram.” QuayClick Digital Marketing, 2023, www.quayclick.co.uk/running-pay-per-click-campaigns-on-instagram. 

Macy Storm    Senior Content Creator        
May 17. “15 Instagram Ad Examples to Inspire Your Ad Campaigns.” WebFX, 13 Mar. 2023, www.webfx.com/blog/social-media/instagram-ad-examples/. 

Sherman. “Determining Your Instagram Ad Cost per Click & Is It Worth It?” Digital Marketing Blog, 8 Nov. 2023, www.lyfemarketing.com/blog/instagram-ad-cost-per-click/. 

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