For the last 18 months Pinterest has been beta testing Ads. Last week they opened up advertising to all small and midsize companies in the United States.
They have also expanded the ad-buying tool, Promoted Pins Ads Manager, by increasing the targeting options from 30 interests to 420 interests. Brands using the Promoted Pins could only select from 30 user interests from a broad category, such as Food or Beauty and Fashion.
“Now targeting is more specific, with marketers able to buy ads against phrases such as “healthy food,” “sustainable architecture” and “street-style fashion.” (AdWeek)
“Pinterest knows more about the interest of its users than any other platforms,” said Nipoon Malhotra, Pinterest’s ad products lead. “This is very different from a graph that represents something you browsed a month ago.” (AdWeek)
Using Promoted Pins
Promoted Pins are just like regular Pins, however you pay to have them seen by more people. Promoted Pins increase brand awareness, engagement and website traffic.
Pinterest reports that when comparing Pinners viewing Promoted Pins to Pinners who have not, the “people who saw them had 40% greater awareness of new products and 50% higher purchase intent.”
Promoted Pins do not have to cost a lot, spending just $ 1 per day on Promoted Pins could potentially generate a 20% increase in clicks on the pins. Pinterest reports that brands using Promoted Pins have received (on average) 20% more clicks on pins (that were not paid Pins) the month after starting an Ad Campaign.
A few other success stories (detailed on Pinterest for Business) include:
- Adore Meincreased Pinterest-referred revenue by 4000%
- Zolaincreased conversions by 44% and click-through rates by 50%
- Dot & Boquadrupled the number of people visiting their website, increased repins by 6000% and boosted daily clicks to their site by a whopping 18000%
- Living Royalsaw a 31% decrease in cost per acquisition (CPA) and a 6x increase in traffic within the first month of paid promotion on Pinterest
- MVMT Watchesfound Pinners convert at a rate 2X higher than users on other platforms—and with higher average order values
Learn more about using Promoted Pins at Pinterest for Business.
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