· Choosing Your Budget and Your Schedule: You’ll be pleased to
know that your Instagram advertising budget is going to be completely
customizable depending upon your needs. With Instagram, you have
the option of choosing between a daily budget and a lifetime budget.
Now, because Instagram advertising runs on the same platform as
Facebook ads manager, what happens with the daily budget is that
Facebook will spend a fixed or designated amount to help you deliver
your ads each day on the campaign dates that you selected. The lifetime
budget option lets you choose the amount you would be willing to
spend during the dates of your ad campaign. Once you’ve chosen the
budget of your choice, you will then select the schedule for which your
ad will run. This will depend on the timeframe which you have set
when you were planning the campaign in the initial stages. It is
recommended that you choose the option on Instagram that states run
my ad continuously starting today if you are looking to build brand
awareness.
· Choosing Your Ad Format: Once you’re all done setting your budget,
schedule and even narrowing down your target audience, the following
step of the process is to choose the Instagram ad format that you are
going to go with. If you’re on a tight budget, you’re going to want to
take your time carefully selecting the best ad format, so you get the
most out of it. Different ad formats will produce different results, and
with Instagram, the six different types of ad formats that you get to
choose from are Carousel Ads, Single Image Ads, Single Video Ads,
Slideshow, Instagram Stories Single Video, and Instagram Stories
Single Image. Each option has their own pros and cons that come with
it:
· Carousel Ads: The pro with this option is that you’re able to show
multiple images or videos, which means that you keep your audience
engaged for much longer. The cons with this one is that you run the risk
of spending far too much on additional visuals, with a very real
possibility that it could be skipped by the viewer anyway.
· Single Image Ads: The pros include it is great for testing CTAs and
copy over visuals. The con would be that it doesn’t drive as much
engagement from the viewers, compared to other ad formats.