Towards the middle of 2014, Pinterest introduced its first form of advertising – Promoted Pins. While not a very surprising move, there seems to be a wealth of potential for this type of native advertising on Pinterest – a platform who’s entire engagement model is ultimately built on commercial activity.
Unlike other social platforms, people come to Pinterest to be inspired. Inspired to find something, make something, or buy something. And when those users see something they like, they pin it, creating a wish list of sorts featuring aspirational content.
So what does this mean for advertisers? Is this just another social platform that will require us to create yet another set of digital assets to reach our consumers? And is it worth it? The short answer is yes – given the growing user base and advanced targeting opportunities, Pinterest seems like a logical place to invest brand dollars.
Here’s how it works: Marketers pay to create a Promoted Pin ad, which looks very much like the other content on Pinterest. They can then target it to certain groups based on their location, sex, and perhaps most importantly – the types of content they have previously pinned. This content gives marketers a glimpse into the types of products consumers plan on purchasing or the types of activities they plan to do in the future, making it quite valuable from a targeting perspective.
And it seems to be working. Advertised brands are seeing their promoted pins “re-pinned” an average of 11 times per advertisement, meaning that on average, the pin is seen by 30% more people than the brand paid to show it to (source: NYTimes).
So what’s our final diagnosis? We say try it – if your target market is on Pinterest, Promoted Pins could prove to be a valuable and effective way of reaching the right consumer at the right time.