It looks like advertising on Pinterest is going to be pretty costly, at least at first.
The company first announced its forthcoming ads back in September, and began testing Promoted Pins shortly thereafter, but only in search results or category feeds. And again, these were only tests. We've yet to see the real product come to light.
When we do, which will presumably be in the near future, we can expect to see some big name brands.
AdAge reports, citing three executives briefed on the company's ad pitch, that it is seeking spending commitments between one and two million dollars, and is looking to price CPMs between $30 and $40.
AdAge reporter Cotton Delo likens Pinterest's strategy to that of Instagram, which he notes "tested its first ads last fall with brands like Burberry, Levi's and Lexus and has emphasized high-quality imagery and been slow to bring new advertisers into the fold."
Here's what Promoted Pins look like:
As you can see, they are clearly labeled "Promoted Pin".
While they may only appear on search results and category pages for now, it remains to be see whether they will make their way to users' home feeds.
Pinterest has been working on a personalization feature, which could eventually come into play.
While separate from the ads, Pinterest recently launched a dedicated feed for e-commerce pins, which provides another way for businesses to get some action from the site.
image via Pinterest