When it comes to Instagram ads where we have a destination URL, we’ve been seeing link click cost per click (CPC) range from $0.50 – $0.95. This CPC (All) metrics takes into account all clicks that happen on an ad, which includes not only link clicks, but likes/reactions, comments, and shares. In terms of CPM (Cost per 1,000 impressions), Instagram costs since January 1, 2021 have been ranging between $2.50-3.50 for better performing campaigns and their particular ad sets. When regards to engagement costs, we’re seeing $0.01-0.05.
On average, Instagram advertising costs between $0.20 to $6.70, depending on the bidding model. For CPC or cost-per-click, advertisers pay $0.20 to $2 per click. For CPM, or cost-per-impressions, advertisers pay $6.70 per 1000 impressions.
For Beginners or new campaigns use $10-30 for 3-4 on your campaigns. So that you can check the cost and results. when you are satisfied with results you can increase your budget accordingly.
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Thanks, and best of luck.