Pinterest has recently released a number of offerings that compete with the other previously mentioned platforms. Between promoted, cinematic, and buyable pins, Pinterest seems to be intent on upping its advertising offerings and differentiating itself from the pack.
Pinterest is often the social channel that marketers put on the back burner. With Facebook, Instagram, and Twitter dominating the attention of both marketers and brands, Pinterest can be an afterthought. However, the platform has recently released a number of offerings that compete with the other previously mentioned platforms. Between promoted, cinematic, and buyable pins, Pinterest seems to be intent on upping its advertising offerings and differentiating itself from the pack.
The first major change to Pinterest is the long-awaited ability for all brands to now promote their pins, or put advertising dollars behind them. Unlike organic pins, these Promoted Pins will be sponsored by companies and have the functionality to target specific segments of the Pinterest audience. For example, if you have a product for gardeners, you can select a keyword inside the Promoted Pins backend that the gardeners are searching for, such as perennials. You can also target by location, language, device, and gender. Just like Facebook, and more recently, Twitter, Pinterest has provided advertisers with an analytics dashboard to track in detail how these Promoted Pins are performing. This includes impressions, repins, clicks, average CTR (Click Through Rate), Average CPC (Cost Per Click) and total spend. You can also create these Promoted Pins as rich pins, which show the price and availability of a product. These offerings by Pinterest certainly widen the door for marketers to reach their Pinterest savvy consumers.
A second Pinterest offering that is buzzing in the advertising world is the cinematic pin. This artistic form of Pin functions similar to an animated GIF, and is a spin on the Facebook/Instagram/Twitter video ad. Unlike the traditional video ad that starts when you stop scrolling and stops when you scroll away, cinematic pins function the opposite way. These pins are seen in motion as the user is scrolling, and then the motion ceases once scrolling comes to a stop. These can then be further targeted by Pinterest’s new targeting capabilities, mentioned above. One of the first brands to jump on this new functionality is Wendy’s. They’ve created a cinematic pin highlighting the strawberry salad, showing the berries in the pin as they transform from farm to table. Not surprisingly, this was targeted to women. You can check out the example here.
The most recent, and ultimately most exciting change to Pinterest, is the buyable pin. This is a major update of the above-mentioned rich and Promoted Pin. These pins offer any company, big or small, the opportunity to buy straight from the platform. A “buy now” button is added to the pin, that when clicked, allows a user to purchase directly from the partner. Third-party companies such as Stripe, Braintree, and Apply Pay are helping to make sure that the information provided, such as price and payment, are handled by the retailer and not Pinterest. This will ultimately help ease any fear of providing your credit card to the social platform giant. These buyable pins started to roll out this June, and retailers such as Macy’s and Nordstrom’s have already gotten started.
Pinterest continues to be a relevant platform for advertisers, and these recent updates only increase its value and bolster the confidence brands have in Pinterest’s ability to reach consumers in the most organic and targeted way possible.
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