Pinterest has offered Promoted Pins to advertisers throughout the year, but it has so far only been on a limited basis. They have expanded that limitation over that time, but the offering is still not available to everyone.
Next month, according to USA Today, which interviewed Pinterest's monetization chief Tim Kendall, any U.S. business will be able to buy Promoted Pins.
Are you looking forward to being able to utilize Promoted Pins? Do you think the ads are right for your business? Let us know in the comments.
From the report:
Pinterest is essentially a catalog of 50 billion images which its users, mostly women, pin to online boards to collect and organize their interests — so-called aspirational content that signals an intent to buy or take some kind of action, Kendall says. "Native" ads such as promoted pins are designed to look like and mix in with that content.
"It's a unique kind of behavior on the user side which creates a very unique place to be for businesses," Kendall said.
The company announced on its blog that it has over 1 million businesses on Pinterest with the number growing rapidly from month to month.
"We’re proud of that growth, and we especially loved hearing stories about how Pinterest helped grow your business this year," Kendall wrote.
The post lists fifteen examples of businesses who have seen success with the service.
Adore Me, it says, saw a 4,000% increase in Pinterest-referred revenue after they started using Promoted Pins. Bob Vila saw a 33% increase in website referrals and 20% more male pinners visit their site each month. Dot & Bo quadrupled site visitors with Promoted Pins and saw a whopping 18,000% increase in daily clicks.
The Wall Street Journal recently reported that Pinterest is narrowing its focus to retailers and consumer product companies when it comes to hands-on support and consultation for its advertisers.
Buyable Pins, which let people purchase items directly from Pinterst ares still relatively new. So far, they apparently haven't been performing very well, but that could change with newly announced feature.
Pinterest announced the launch of price drop notifications for Buyable Pins. Now, if a Buyable Pin a user has saved drops in price, they’ll get a notification.
According to Pinterest, there are already over a million Buyable Pins with reduced prices every day. This added functionality should make this info more visible to interest parties, which should lead to more sales for businesses.
Do you expect to take advantage of Promoted Pins? Discuss.
Image via Pinterest