Pinterest is building off its initial offering of promoted pins by extending the opportunity to all businesses, small and large, to try and increase their capture of ad dollars. The San Francisco based company now has over half a million businesses active on the social media site, and will be testing the new tool with a small group of select businesses until further notice.
Some of the initial brands trying out the service include: Expedia, Kraft, Nestle, Old Navy, Banana Republic, Target, Walt Disney Parks and GAP. Pinterest chose to keep the test group small in order to collect data on the Promoted Pins effectiveness, and gradually start opening up the ad spaces for more businesses throughout the year. Some have said this initial exclusivity, while purposed towards functionality, may also add an extra sense of enticement to those businesses awaiting their turn.
How It Works
Similar to Google's Adwords, the Promoted Pins will run on what what's known as a cost-per-click basis. This is good news for the smaller businesses planning on making the most out of advertising, for no longer will you need to buy an ad that may, or may not receive clicks. The SMBs only pay when people actually click through to their website.
It has been said Pinterest intends on charging anywhere between $20 to $40 per 1,000 views. What's more, is the user gets to choose which pins they want to advertise, allowing for full creative control on making your pins fully stand out.
Different Than Facebook, Twitter and even Google
From an intuitive perspective, we can very clearly distinguish when an ad, or sponsored web page appears at the top of our search results. There's a reason organic searches get more clicks than paid ones, and that's because the words 'sponsored ad' and or 'promoted' indicates the page had to pay to be seen, and may not be worth our time compared to results naturally trending.
Pinterest has always been comprised of images, it's where users visit to share creative pictures and build lists based on niches of interest. Promoted Pins will look just like all of your other pins, except slightly larger, and have a small 'promoted pin' indication at the bottom.
One of the noticeable benefits is users won't feel pestered by the sponsored content; the pins you choose to promote will only appear in search results and relevant categories so no one will be annoyed your ad for hiking boots appeared in a board specializing in travel destinations.
Pinterest has insisted that the promoted pins will fit in with the rest of the website, and be more of a lifestyle branding, more than just a blatant ad. You can also pin videos to really promote a company's story.
We're ready to adopt the next phase of brand promotion, what are your thoughts?
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