Six secrets to managing your digital media spend on Instagram
You’ve done the research, read the stats, crunched the numbers, allocated the funds and now, your Instagram budget is set. So that’s the hard part over, right?
Not quite. Your Instagram business account might provide you with insights to track important KPIs such as impressions, engagement and follower demographics, but what now lies ahead is the task of determining what to spend on and how. If your goal is to reach as many of your target audience as possible, this has to be monitored (and optimised) with the correct spend – and this has to allocated to the relevant areas at the right times. But these six simple rules will make this a breeze, so worrying about your digital media spend becomes a thing of the past.
1. Remember the 70:30 rule
This is all about being flexible in your business approach, so consider dividing your digital media spend by using the 70/30 rule. 70% goes into your set ad plans, and the other 30% for more fluid spending, such as reactive Instagram ads. If it’s not needed, it can always be added back into the main spending pot.
2. Choose your days wisely
According to Instagram, more than 80% of users follow at least one business. And, 75% of users reportedly visited a website or made a purchase after seeing an Instagram ad. But when is the best time to reach them?
Different sectors do better at different times, so do your research and plan carefully to get the best out of your Instagram spend. Overall, the best day to post ads is Thursday, with Tuesday and Wednesday having the highest cost per click (CPC). Want a sure-fire response to your ad? 3pm on Wednesday is the way to go. But there are exceptions: Consumer goods experience a boom on the platform between 11am and 1pm on Saturdays, with a distinct drop-off noticed on Mondays, when people are too busy at work to shop.
3. Connect with your audience
The key to this is segmentation. AdRoll can help, so you can target customers on Instagram across the entire funnel. Put simply, that you can serve general awareness ads to new customers and offer discounts to your loyal ones. You can then segment even further with dynamic creatives, serving ads to customers based on the specific products they’ve viewed in carousel posts or Instagram Stories. This way, your targets don’t get tired of being served the same ads, and find their interest piqued by more in-depth connections.
4. Be Instagram smart
There are little tricks that can also help you make the most of your digital media spend on Instagram – like the placement of your adverts, for example. Currently, ads between Instagram Stories are less expensive than those that roll out in the main Instagram feed. If you’re targeting a group that interacts well with the Stories feature, then placing your ad here would be the natural choice. There are other quick wins too. Maybe you’ve noticed an organic post is doing particularly well and you want to make it more visible? No problem: you can turn it into an ad by tapping the “Promote” button below the post’s image. You’ll then be instructed on how to complete the details of who you want to reach (audience), how much you want to spend (budget), and the length of the promotion (duration). Once you’ve tapped ‘Promote’ to finish, it will be reviewed within 60 minutes. Job done.
5. Follow through
It sounds like common sense, but only 1 in 10 brands actually respond to potential customers when they receive a message from them. 71% of people are likely to buy a product after a good experience on social, so be the brand that listens and answers that message.
6. Ask for help
Instagram is gaining more followers each year, so trying to connect with them can seem daunting. That’s why AdRoll offers simple solutions to get you going. We believe programmatic advertising offers more value for money – and by using prospecting and retargeting to help your customers move along the sales funnel, we can also help you get a better return on your Instagram marketing spend. So, whether you’re an Instagram novice or a social media whizz, we’ll help you discover how to use the platform to catapult your business to the next level.
Want to learn how to use Instagram to grow your brand? Download The E-commerce Guide to Marketing on Instagram.