Social media platform Pinterest has just released its ads manager tool to small and medium sized businesses as well as a suite of new targeting tools. The ad manager previously only available to businesses purchasing bulk advertisements will transform the way companies set up and manage marketing campaigns.
Pinterest is a serious performing yet quiet contender in the world of social media advertising and they boast substantial and steady advertising sales growth in their revenue streams. It’s an interesting platform for businesses as many Pinterest users specifically frequent the website/app with the intention of seeking out items for future purchase. It’s a powerful branding tool but also a powerful selling tool for products as diverse as swimwear and power tools. Pinterest’s Monetization Product Manager, Nipoon Malhotra, explains… “Pinners plan and discover ideas early on our platform compared to other platforms. Christmas starts in August as opposed to December. The half-life of a pin on the platform is about [three and a half] months.”
The Benefits
The new ads manager and targeting tools will allow all marketers advertising on the platform to better target their ads and to improve conversions. There are now 420 different interests available for improved targeting and it is now also possible to target via keywords. Pinterest is offering customer database targeting as well meaning marketers may upload databases to run campaigns based on the profiles of their target customers. It’s clear that the changes at Pinterest are based on real research and the experiences of their advertisers. It’s even finally possible to buy an ad using a credit card! This incredibly simplified process makes Pinterest more attractive than ever.
While the number of advertisements will continue to grow, Pinterest will more closely examine them to be sure that the level of quality will be maintained.
Why Advertise on Pinterest?
Pinterest offers an incredibly diverse group of users with an incredibly diverse group of interests making it a viable advertising source for a variety of businesses. The creative social media platform offers a healthy variety of ad types including different ways to pay such as paying linked to the expansion of advertising pins and paying due based on the number of sales a pin leads to. Finally, Pinterest has an incredible advantage over many other social media companies as by its very definition, it’s a place where users welcome advertisements. The key is to advertise in the right voice and aesthetic that speaks to your target audience and to properly utilize all of Pinterest’s targeting tools for the most precise campaigns.
