Pinterest announced Monday that it is rolling out the next phase of its Promoted Pins ad product. The company began testing them last fall.
Pinterest is currently working with a small group of brands including: ABC Family, Banana Republic, Expedia, GAP, General Mills, Kraft, Lullemon Athletica, Nestle (Purina, Dreyer's/Edy's Ice Cream, Nespresso), Old Navy, Target, Walt Disney Parks and Resorts, and Ziploc.
"During the test brands will work with Pinterest to help ensure the pins are tasteful, transparent, relevant and improved based on feedback from the Pinterest community," a Pinterest spokesperson tells WebProNews.
"Tens of millions of people have added more than 30 billion Pins to Pinterest and brands are a big part of this," says head of partnerships Joanne Bradford. "Brands help people find inspiration and discover things they care about, whether it’s ideas for dinner, places to go or gifts to buy. We hope Promoted Pins give businesses of all sizes a chance to connect with more Pinners."
Pinterest says it's keeping the test small for now as it collects feedback, but expects to open up the product to more businesses later this year.
A couple months ago, AdAge reported that the company was looking for spending commitments of between one and two million dollars, and pricing CPMs between $30 or $40, though we've not confirmed this.
DIgiday, however, shared a pitch deck indicating that CPMs would be about $30, and that the company is seeking six-month commitments at roughly $150K per month ($900,000 total). Ads targeted upon search keywords will be priced on a CPC basis, it indicated, while those placed in “Everything & Popular Feeds” will be on a CPM basis. Promoted Pins can be placed in 32 different categories, according to that, and advertisers will be able to target US-only, the user’s location and the “metro-city level”. The ads will also be targeted based on device. Age will not be a targeting option initially, but apparently will become one later.
The newly announced ads will appear in search and category feeds.
Image via Pinterest