Pinterest to Enhance Promoted Pin Ad Capabilities
The visual discovery platform is going to add a slew of new features to promoted pins, including app promotion. How can marketers benefit from these updates?
The visual discovery platform is going to add a slew of new features to promoted pins, including app promotion. How can marketers benefit from these updates?
Pinterest is going to make promoted pins more appealing to advertisers by adding a new suite of ad solutions.
In response to its growing mobile traffic, Pinterest is going to make app pins promotable in the coming months. The new app pins will allow pinners to download an app without leaving the platform.
Julia Campbell, principal of J Campbell Social Marketing, believes that app pins can help marketers measure their efforts and build their user base on Pinterest.
“Rather than having to go to the Apple or Google app store, search for an app and then download it, an interested person can simply tap the button and get the app, all without leaving Pinterest. They don’t have to worry about losing their activity or going back into the Pinterest app afterwards,” she says. “It’s seamless, straightforward and easy-to-use, all essential items for a successful online marketing call to action.”
Pinterest will charge app pin advertisers on a cost-per-action (CPA) basis, so they only pay when their app is installed or purchased.
“I love the CPA model, because no one pays unless an action is taken,” Campbell says. “This means actual return on investment (ROI) of promoted pins. If the app developer can figure out what an app download means in terms of revenue, they can then determine if they are getting value from their promoted pins campaign. I think this is something that app developers targeting women should definitely explore, given the sheer numbers of women using Pinterest.”
Aside from the new app pins, Pinterest is going to add a cost-per-engagement (CPE) model to the existing premium cost-per-thousand (CPM) and cost-per-click (CPC) promoted pins. Advertisers will have the flexibility to pay for promoted pins based on their marketing objectives.
“For generating awareness, a marketer can pay on a CPM basis. For capturing intent, a [business] partner can pay on a CPE basis. They bid on CPE (repins, close-ups, or clicks) based on their unique campaign objectives. [Advertisers] wanting to generate action such as a click will continue to pay on a CPC,” Pinterest tells ClickZ.
The platform is also going to introduce motion-based cinematic pins and enable promoted pin marketers to target users based on interests, personas or life stages, such as millennials or travelers.
All of the offerings are available in the U.S. only.
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