Pinterest makes changes to help marketers, advertisers
Thursday, June 23, 2016
For those looking for recipe, DIY, wedding or other visual ideas, the first social media platform that comes to mind is Pinterest. With its 176 million registered visitors and more than 100 million monthly users, Pinterest is the third biggest social media platform, behind giants Facebook and Twitter.
Thus, marketers should take heed to some new changes being implemented by the scrapbooking site. By the end of June, businesses will be able to target ads on Pinterest to consumers who have visited the brand's website, used its mobile app or have shared an email address with the brand.
"We're going to support all of the ones that you've grown used to, tracking things like sign-ups and page visits and checkouts and things like that," Pinterest Product Manager Frank Fumarola told Marketing Land. "I don't think that's going to be really that new. But I think when you get into our platform and you can use that audience, the ways in which you can use that audience will be new."
This is the second time Pinterest has tweaked its ad-targeting options for advertisers this year.
Back in March, Pinterest began allowing brands to upload lists of consumers' email addresses in order to target ads to its users. Advertisers must have at least 100 email addresses in the lists they upload to Pinterest. This allows Pinterest to target individuals as specifically as possible.
This is not a new concept by any means when it comes to ad targeting. Other social media sites such as Facebook, Twitter and Instagram already have ad-targeting options for advertisers. The difference is just how big of an influence Pinterest has on consumers.
Kleiner Perkins' 2016 Interest Trends report showed Pinterest was the most popular social media website among online shoppers. Fifty-five percent of U.S. internet users picked Pinterest for finding and/or shopping online for products.
According to Pinterest, people conduct more than 2 billion searches on the platform to find ideas to their style and taste. Once they find something that catches their eye, users can "pin" an image on a designated board for that pin.
"Pin it" was lingo that was always specifically associated with Pinterest, but that too is changing. In May, Pinterest announced they were changing the "pin it" button to "save."
"We've recently been testing 'save' in place of 'pin' in response to user feedback and to make it more immediately clear to everyone what 'pin' means," a Pinterest spokesperson told VentureBeat in an email. "Additionally, as we grow to be a more international service, 'save' translates better than 'pin it.'"
Pinterest saw an 8 percent increase of users saving pins since switching to the "save" button.
What do brands need to keep in mind when using Pinterest?
Promoted pins = sales
Want a product to sell? Try a promoted pin. They can help promote awareness of brand, increase engagement and push traffic.
Research by Millward Brown found that 93 percent of pinners used Pinterest to plan purchases, 87 percent have made a purchase after seeing a production the platform.
Be creative with your market plan
J.C. Penney recently teamed up with the social media site in an effort to bring more customers into their stores. The retail store began hosting live Pinterest boards in stores to promote specialized products to their consumers.
"This idea of every interaction with J.C. Penney is worth someone's time, money and effort — the best way to create that value proposition is by giving her meaningful solutions with shopping experiences," Sheeba Philip, VP of marketing strategy and communication for J.C. Penney told Advertising Age. "Pinterest is really a destination for our consumer, this modern American mom looking for head-to-toe looks."
Since Pinterest is a visual social media network, businesses must think about whether an image would be eye-catching to users.
When pinning items on Pinterest, you have to keep in mind whether the image is attention-worthy enough for users to repin that image onto their boards to be viewed by others. Beyond that, consider if that image is worth clicking on and visiting the page from which the image originated.
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