According to the latest study from SaaS provider, Nanigans, global ad performance of Instagram ads is similar to Facebook’s. The company compared Click-through rates (CTR), Cost per 1,000 impressions (CPM), and Cost per click (CPC) across both platforms to find that performance was very similar.
Global ad performance on Facebook and Instagram is similar
Nanigan customers are also achieving promising results with mobile app install ads targeting Instagram. Cost per Install (CPI) rates were significantly lower on the picture sharing app compared to Facebook. However, budgets allocated for Instagram app spending are just 4% lower than those allocated to Facebook.
Instagram mobile app ad performance
In a recent blog post, Instagram confirmed that across some 700 campaigns, 98% had achieved significant lift in ad recall, 2.8x higher than the Nielsen norm for online ads. The company has been busy expanding its targeting and ad format options this year. It now offers a brand awareness objective as part of its toolkit.
Among recent successful campaigns, Sony Pictures drove awareness of its movie The Perfect Guy. Sony targeted Facebook and Instagram users of African American ethnicity, reaching 23% more people in its target segment after adding Instagram to the existing Facebook placements.
Elias Plishner, EVP Worldwide Digital Marketing, Sony Pictures, says:
“With access to Instagram’s self-serve buying, we were able to invest and see incremental people reached. Being an early adopter on Instagram was important, as The Perfect Guy was launching prior to key fall season premieres. Now that Facebook has Reach & Frequency buying on Instagram, we plan to control the frequency, so that each dollar invested can reach more people on both Facebook and Instagram.”
In addition, BlackBerry launched its Android smartphone PRIV using Instagram to generate awareness. The company ran video and photo link ads focussed on people’s personal moments to showcase features and design of PRIV. The campaign utilised Instagram targeting to define a key audience, interests and featured a Show Now button.
BlackBerry PRIV Instagram campaign
Instagram ad revenue is growing fast. According to recent eMarketer figures, its ad revenues are set to reach $2.81bn, 10% of Facebook’s global ad revenues, by 2017.