Media Channel: Instagram
In this weeks blog we are focusing on promotions we receive through media channels we use most often. I chose Instagram because it is my favorite social media platform. I follow many auto parts companies and often I see ads like this one. They are displaying the new SPEC Series chassis for a 73'-87' C10. Social Media is a very effective marketing tool and it reaches a wide range of users and with tools like google analytics, companies are able to target exactly who they want. Although it is difficult to find dollar amounts, some estimate that sponsored ads on Instagram cost any where from $350,000-$1 million. Although it may be pricey through Instagram providers, ads like this one simply takes one person on the behalf of roadster shop to take an hour to take pictures and make a decent post. I've read blogs and people also pay opinion leaders and sometimes celebrities to endorse their pages and or product. These costs can range depending on the negotiating skills of the page owner. I believe social media platforms like Instagram are the most effective ways to advertise in today's word.