Is advertising on Pinterest something that your brand/advertiser needs to take advantage of? Time will tell, so let’ s figure that out. Pinterest, an image and search platform, functions almost like a mood board for the user. The social sharing platform is designed to help people discover information across the internet. Users “pin” images they like to their “boards” which are upload by other users. Pinterest serves the user an algorithmic feed of content based on the pins they have pinned to their own boards. Despite the site being an interaction between users and their content, CEO Ben Silbermann has previously said that Pinterest isn’t a social site, but more of a catalogue of ideas intended to spur users to make creative decisions in the real world. Whether you view Pinterest as a social media platform or a search engine of sorts, the main question brands and advertisers have is can Pinterest Advertising help my business, are they effective, and should I invest?
Facebook, the behemoth of social media, currently has over 7 million different advertisers across the world. That number doesn’t seem as farfetched since the it currently boasts a month user count north of 2 billion. With all that competition on Facebook to advertise and reach your audience through their vast algorithms, it would be unwise to ignore the smaller platforms, like a Pinterest.
As of 2019, Pinterest has hit 300 million monthly users worldwide, 85 million in the United States, and currently 1.5 million brands connecting with users every month. Looking deeper into the demos of Pinterest, according to Statista, in 2019 79.5% of Pinterest users in the US are women, with the men increasing every year finishing at 20.5%. Not only is there a strong female presence on the platform, but with millennials also with one out of every two millennials using the platform every month. While those numbers are appealing to any brand and advertisers the most important is the conversion. Business of Apps, a media site that provides news, analysis, data & marketplaces for apps repots that 98% of Pinterest users have tried something new they have discovered on the platform and Pinterest reports that 87% of users have purchased something after seeing a promoted pin (paid pin by a brand or advertiser). This coincides with their numbers that 84% use the platform when they’re undecided on which products to buy, so by utilizing the platform you can reach the user at all levels of the purchase funnel.
What distinguishes Pinterest advertising is how well the types of ads are receptive from the users, with 73% of users saying content from brands makes Pinterest more useful. To utilize the advertising on Pinterest, its best to the know the different types that you can use.
- Promoted Pins: Promoted Pins appear in the home feed and search results just like a regular Pin except that they’re boosted and targeted to deliver way more reach. Other than the “Promoted” label on the Pin, they look and behave the way other Pins do. Users can Pin them to boards, share them, and comment on them. Once they share the Promoted Pin to their page, the “Promoted” label goes away so it will look like organic content on the user’s board, but if clicked will still take them to your landing page.
- Promoted Carousels: This ad type features two to five images that Pinners can swipe through. These multi-image ads can appear wherever Pins can, and they behave the same, except for the dots beneath that signal the swipe option. Each card in a Promoted Carousel ad can feature a different image, title, description, and landing page. These ads are useful when you have multiple products or features to showcase because different images or messages will attract different users.
- Promoted Video Pins: These ads are just like Promoted Pins except the static image is replaced with video. Like Promoted Pins, Promoted Video appears in the home feed, search results, and the “more like this” section under a Pin close-up. Pinterest videos auto play as soon as they’re 50 percent in view. A Pinterest study conducted with Millward Brown found the Promoted videos are four times more memorable than non-video ads. And 67 percent of Pinners said that video inspires them to take an action.
- Promoted App Pins: These ads let the user download your mobile app directly from Pinterest. These mobile-only ads are a good fit for Pinterest’s audience, since 80 percent of Pinterest traffic comes from mobile devices.
- Buyable Pins: These ads are designed to be shoppable. Also known as Shop the Look, these Pins allow Pinners to find and buy products directly from your Pin. These Pins work across mobile and web and appear in the same places as a Promoted Pin would.
- Story Pins: The newest of the ad types, these ads are being tested with select business accounts, Story Pins feature up to 20 pages of images, text, and links. Story Pins appear in users’ home feeds with a cover image and a title. They also say “Story” underneath. Tapping a Story Pin allows you to see all its pages.
With these different ad types, you’ll need to select a specific campaign type, and Pinterest offers four different options: get traffic to your website, build brand awareness, increase installs for your app, and build awareness through video views. With these ad types and combined with the right campaign goals, target audience, and interests and keywords, Pinterest offers many combinations to reach your target audience and reach your campaign goal.
The types of ads listed above mixed with the campaign goals and objectives correctly, will lead to the results listed earlier, but there are many more reasons as to why Pinterest ads are beneficial for any brand/advertisers to include in their next overall campaign. Bannersnack Blog, industry related blog that covers design, marketing, and industry updates suggests these 5 additional reasons Pinterest ads are beneficial (summarized):
- Pinterest ads Increase Conversions: Pinterest user behavior shows they have higher engagement and purchase intent. The visual nature of the site gets people in the shopping mood, driving more purchase intent decisions than other less visual social networks.
- Pinterest ads Generate Demand: Pinterest is a great platform for the demand generation. As many as 97% of Pinterest’s search queries in Pinterest don’t mention a specific brand, users are in active discovery mode. They’re open to finding new brands to explore and eventually purchase from so they could be discovering yours.
- Pinterest ads Drive Traffic: If utilized correctly, Pinterest can be one of your best social referrals in analytics. Pinterest has over 2 billion monthly searches on the platform, and with Pinterest ads, you can target and narrow your focus very granularly.
- Pinterest ads Increase Brand Engagement: Pinterest engagement rates on promoted pins avg around 2-5%, exceeding industry benchmarks. Pinterest says brands also get an average of 30% free engagement when they conduct promoted pin campaigns. TO get the best engagement for your pins, Pinterest advises you to promote your best-performing organic pins and watch the re-pins reap the benefits.
- Pinterest ads can Help you Promote Your Evergreen Content: If a promoted pin already gained a significant number of repins, it continues to drive organic traffic if it’s a searched term. This means paid repins keep generating impressions, repins, clicks after the campaign ends. Most advertisers see about 5% more impressions the following month after a Pinterest ads campaign has ended.
The people that use Pinterest, are taking actions at a much larger % than other social media platforms with the ads from brands and advertisers. What may be concerning to some is the lower number of monthly users compared to a Facebook, it mainly being a female focused platform, and having to have a business account with Pinterest. With the current trends in the industry though, year after year Pinterest continues to grow and prove to be an effective tool. If you have the budget to do some experimenting on something new, and you haven’t yet tried Pinterest advertising but want to give it a shot, the best way to be successful is to pay attention to the trends and patterns users respond to in your industry, and utilize this knowledge in your Pinterest ads. This will give your audience a new platform and way to discover your brand/advertiser.