2014 has been a year of testing for Pinterest when it comes to Promoted Pins, which are sure to be the company's big revenue generator. They first began testing the ad format in the fall of 2013, but officially launched the beta in May. They started with a few partner brands, but over the course of the summer, gave more businesses the opportunity to create their own do-it-yourself Promoted Pins.
The offering has still been limited, but that's going to change in 2015. Pinterest gave an update about the coming year. Reservation-based Promoted Pins (available at a CPM) will be open to all partners January 1.
The company also shared some findings from its testing. For one, the Promoted Pins perform just as good or better than organic Pins, it claims.
"Brand advertisers achieved about a 30% bump in earned media (free impressions!) from their campaigns," says Pinterest Head of Partnerships Joanne Bradford. "That’s from people who saw a Promoted Pin and thought it was good enough to save to one of their own boards. Engagement is strong— the average Pin is repinned 11 times, and that remains true for Promoted Pins (if not higher)."
"Promoted Pins perform long after a campaign ends. Since Pins are evergreen and last forever, we often saw an extra 5% bump in earned media in the month following the end of a campaign," she adds. "Brands both in and out of our core categories found success. From financial services to food to auto, brands from a wide array of industries saw results. Auction-based Promoted Pins (CPC) are seeing success, too. Many of our self-serve beta partners are seeing major gains in traffic and impressions. We’re still making tweaks to the product and want to make sure we get it just right before we roll it out to all businesses."
Bradford also says Pinterest will be adding additional formats and advanced targeting options to Promoted Pins.
In preparation for the expansion of Promoted Pins, Pinterest announced the "Pinstitute," which is a program aimed at helping businesses with creative and measurement.
Image via Pinterest