Instagram and Facebook Ad costs: Analysis from 2021-2023
We analyzed data from the past three years (2021–2023) of Facebook ad campaigns targeting various demographics and interests in the US. Interestingly, we observed consistent trends across key metrics like CPM and CPC.
Advertising costs on Facebook have dropped significantly over the past three years and are expected to decline further in 2024. This coincides with an increase in the Click-through rate, suggesting improved campaign effectiveness for lower investments.
Seasonality also plays a role: costs spike starting on Black Friday and reach a peak of 40% during the holidays, followed by a dip of about 20% in January and February when compared to the year average. Weekly patterns show costs rising towards the weekend and being lowest on Mondays and Tuesdays.