Monday - Sep 25, 2017

Pinterest to expand their advertising platform to include new services and frontiers

Pinterest to expand their advertising platform to include new services and frontiers

The rapidly expanding link- and photo-sharing portal are looking to receive returns on the considerable investment that they just completed on the site.

Pinterest the popular link- and photo-sharing portal have long been aware that they are fighting for their share of the market against the biggest guns in social media marketing, in particular Facebook and Twitter.

Although apparently living in the shadows of the “big two” Pinterest have succeeded in building a following of their very own, through creating a home town, folksy feel to the website. A formula that has consistently grown the numbers of their site visitors, with 55 million potential shoppers surfing the site during April 2014, up around 8.5 million from the same month last year.

Pinterest, never ones for sitting back and counting the numbers, are now looking to cash in on that traffic as well as expanding it. They are now in the advanced stages of expanding their coverage abroad, having recently launched in the UK, France and Japan. At the same time their marketing team has evolved a system that will provide site visitors with a substantially increased choice of products to mull over. To make life easier for site visitors, the Pinterest site now offers an improved yet reportedly more user friendly navigation system.

With the launch of the new site, also comes the launch of a self-serve platform, that will allow advertisers to create customised “Promoted Pins” that translates into custom created and product specific marketing campaigns with the added ability of improved product descriptions, a feature that was lacking in the previous version.

Pinterest continues to carve out new frontiers in online marketing through their ability to effectively harness the information that it garners on surfer’s interests in order to draw advertisers. In comparison to their competitors, statistics continue to show that the percentage of people who log on to Pinterest do so with an already defined intent to buy, or at least make up a “wish list” of items that they may well acquire later, a fact that companies who are ready to spend at least some of their advertising budget online and with social media sites are increasingly taking into account.

Prior to the launch of the extended site, Pinterest carried out a number with a handful of highly controlled tests of their most popular “Promoted Pins” with their largest advertisers taking part, among them retail giants Old Navy and Target, consumer goods specialists Kraft and General Mills, online travel site Expedia as well as Walt Disney Parks and Resorts.

With the information gathered, Pinterest have now begun the launch of a scaled down but similar self-serve platform designed and produced for smaller companies who want to sell their products the Pinterest way.

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