This week, Pinterest finally released advertising management tools that are accessible for businesses on modest budgets.
Pinterest’s new Ad Manager tool functions as a self-serve ad platform – something advertisers on social networks like Facebook and Twitter are already accustomed to. There’s no longer a need to do the sales dance with a Pinterest representative or to sign a contract. All you need to start running advertising on Pinterest is a business account on the website and a credit card. One feature of the ad platform that will feel familiar to advertisers using other social networks? Percise targeting capabilities. Pinterest’s Ad Manager offers the ability to target ads to users based on interest, keywords and - coming later in 2016 - your current customer database.
Ads on Pinterest are shown in the form of Promoted Pins. These pins look just like the millions of other, non-paid pins on the website. The only difference to the end-user is that the word “Promoted” is placed next to the name of the user account. Being able to view advertising content right alongside organic content is great news for advertisers who don’t want users ignoring their content because it’s promoted; however, this also increases the pressure to create pins that feel natural and compelling on Pinterest.
Check out the example of a promoted pin below, created by online learning website Udemy.
Is advertising with Promoted Pins on Pinterest right for you?
As with any advertising channel, it’s important to thoughtfully consider whether or not the platform will reach your target markets in a meaningful way.
Does Pinterest make sense for your business? Let’s take a look at the data:
Pew Internet Research found that Pinterest users:
- Represent 31% of adult internet users
- 44% of all women online in the United States use the website (compared with only 16% of online U.S. men)
- 34% of users are between the ages of 18 and 29, with 28% being between ages 30-49, and 27% being between ages 50 and 64
- 34% of users make at least $75,000 per year; 30% earn between $50,000 and $75,000
- Pinterest users are educated, with 32% of all users holding a college degree and 30% having completed some college
- Though the location demographics for Pinterest users is nearly evenly split, it’s interesting to note that most users (30%) reside in rural areas, with 29% located in suburbs and 25% in urban areas
As a visual platform, it’s not surprising that Pinterest has proven to be especially successful for retailers and consumer packaged goods, which USA Today reveals represent “billions of dollars in digital ad spending.”
According to Nipoon Malhorta, ads product lead at Pinterest, the platform’s unique selling point is that visitors on Pinterest are actively searching for things to do and things to buy. This gives Pinterest an appealing leg up over other channels that may be targeting people who haven’t yet come to the conclusion that they are willing to buy.
If your product is consumer-oriented and doesn’t require a complex or lengthy sales process, Pinterest advertising may be right for your business.