Pinterest expands advertising capabilities
Pinterest continues growing its functionality as an online shopping platform with a set of new promotional features.
Following the July 2021 rollout of shoppable video pins known as “Idea Pins,” the visually-oriented social platform is releasing several new offerings aimed at brands and retailers seeking to advertise to its user base. Based on Pinterest-commissioned research, 89% of weekly users leverage the platform for inspiration in their path to purchase.
One new offering is an update of Pinterest’s Collections Ads, which enable retailers to select a main asset and a corresponding product group to create a multi-image ad unit. The updated Collections Ads feature, called Collection Slideshow Ads, was created for basket building and allows advertisers to leverage their catalogs to create shoppable, video-like content in the form of a slideshow of complementary products.
As a result, advertisers can combine collections ads with video to curate immersive, shoppable experiences. When a Collection Slideshow ad is served, the tagged products will be dynamically selected and personalized to the individual Pinterest user.
Another new Pinterest feature, Merchant Details, is designed to let advertisers communicate their values with categories including Eco-friendly, Invested in Good, Responsibly Sourced, Personal Touch, and Inclusive. In showcasing these details, advertisers can target users who want to shop in alignment with their specific personal values.
In addition, Pinterest recently expanded its Verified Merchant Program to more countries including Spain, Italy, Austria, Switzerland, Brazil and Mexico. In exchange for quality products and content, accurate metadata, and reasonable shipping and return policies, participating sellers on Pinterest can receive enhanced distribution, a Verified Merchant badge, and conversion reporting and insights.
[Read more: Pinterest to give special attention to ‘trustworthy’ retailers]
Pinterest is also experimenting with a feature called Ideas ads with paid partnership, which is a new ad format that enables select advertisers to promote shoppable video-based Idea Pins from managed creators. Idea ads with paid partnership enables businesses to scale collaborative content beyond the creator's audiences by promoting it to their target audiences and measuring performance on Pinterest’s ad platform.
As a result, Pinterest hopes to allow advertisers to scale their collaborative content, drive awareness, increase engagement, and build trust with their audience. Idea ads with paid partnership will launch in beta in 15 countries: US, UK, Ireland, Canada, Australia, New Zealand, France, Spain, Italy, Germany, Austria, Switzerland, Sweden, Brazil, and Mexico.
“On Pinterest, shopping is about finding what you actually love,” Jon Kaplan, chief revenue officer, Pinterest, said in a corporate blog post. “It’s about discovering products you never even knew existed—that you maybe don’t even have the words to describe.
“People who use Pinterest weekly are seven times more likely to say it’s the most influential platform in their purchase journey, compared to social media platforms. That’s why we’re dramatically expanding our suite of shopping solutions for advertisers. Now, it’s easier than ever to reach and convert Pinterest shoppers, primed to purchase.”