There's been a lot of interest in the power of Facebook-owned Instagram as a UA channel.

After all, it's still a relatively new option, having only opened up for advertising in the summer.

So advertising platform Nanigans - a member of the Instagram Partner Program - has been running some numbers, comparing campaigns on Facebook and Instagram between 1 August and 31 October.

Good comparison

First up, it's found that almost a third (31%) of its customers are already advertising on Instagram, so that interest is growing fast.

In terms of industry advertising metrics such as CTR, CPM and CPC rates, the two platforms were almost identical.

Considering app install, or CPI, campaigns, however, Instagram offers lower rates than Facebook at what Nanigans calls "significant scale". Instagram has over 400 million users.

Indeed, it appears that many advertisers are now spending similar amounts on Instagram as Facebook, suggesting that the channel has matured very quickly.