Pinterest’s Promoted Pins Have Expanded To More Business Types

|

pinterest-promoted-pins

Similar to Facebook and Twitter, Pinterest is rolling out its Promoted Pins option to more business types, after several businesses reported are being invited to join the pilot program.

Previously released, Pinterest’s “self-serving” Promoted Pins, a performance-based advertising platform is intended for small to medium-sized businesses looking to gain more views for their Pins from “regular” Pinterest users. Though the company had previously been testing its Promoted Pins product with a number of larger brands, including ABC Family, Banana Republic, Expedia, GAP, General Mills, Kraft, Lululemon, Nestle, Old Navy, Target, Walt Disney Parks and Resorts, and Ziploc, the initial group of Promoted Pins was sold on a CPM basis, based on the number of impressions generated.

promoted-pins-from-kraft
Promoted Pins from Kraft

Meanwhile, Pinterest’s Promoted Pins employed PTC-type method. It means the aforementioned partners only pay if users click through to view the promoted content. Now, more businesses that are receiving invites to try Promoted Pins may have already expressed an interest in the product.

“These partners are being selected primarily from those on the waitlist and also those that have been actively using Pinterest,” explains a company spokesperson. “We look forward to working with them and future partners to test the tool and gather feedback.”

The social media company declined to offer specifics as to how many businesses were currently participating in its Promoted Pins trial. However, the company did reveal more details related to tests with larger brands, which had signed either three to six-month commitments, which ranged from $1 million to $2 million for each commitment. This offer might comes handy for certain types of business, as Pinterest itself has incorporated a performance analytics for its platform:

promoted-pins-analytic
Pinterest Analytics

While it makes sense for big brands to establish a presence on the social network, the self-serve platform opened up Pinterest’s advertising to a broader group of customers, similar to how Google AdWords lets anyone bid on placements next to Google Search results. Of course, Pinterest’s reach is nowhere near Google and is outclassed in comparison with competing social networks like Facebook or Twitter. However, Pinterest has managed to grow a very attractive demographic when it comes to the following advertising opportunities: females, on mobile, and purchase intent.