Pinterest is following the lead of other successful social-sharing platforms by trying to monetize their offerings. This is evident as the platform recently soft-launched Promoted Pins and will roll out Related Pins in the near future. These new opportunities are a win-win for Pinterest, brands and the end user.
Promoted Pins are paid placements that will appear alongside other content in both search results and category feeds. The user will be able to tell that these Pins are advertisements by the Promoted icon at the bottom of the Pin. Promoted Pins are currently in a beta test, being offered to a select group of advertisers, but brands can sign up to learn more about the opportunities available within the Pinterest for Business site.
Related Pins are a selection of recommendations delivered to users by Pinterest based on other content the user pins within their own home feed. Similar to the recommendations on other platforms, users do have the opportunity to “thumbs down” the content and make it disappear.
What does this mean for my brand?
By providing brands with these new opportunities, it allows brands to invest more into their Pinterest presence. Here are three effects that Promoted Pins and Related Pins will have on your brand’s presence on Pinterest:
Search Results: Currently, Pinterest has no set algorithm for search results, causing some brands to appear lower on the page even when users search with the brand’s official name. With Promoted Pins, brands now have the opportunity to boost their placement in search results, increasing the ROI on Pins already on the platform. Expect Pinterest to continue to improve search algorithm for non-promoted content as well.
Revitalized Content: Many brands have vibrant owned photography on their Pinterest pages that intrigues users. Unfortunately, this content has, until now, fallen into the Pinterest abyss as the platform focuses on more recent content. Similar to a Facebook timeline or newsfeed older content doesn’t appear at the top of a user’s feed. Brands now have both paid and organic opportunities to bring this content back to the top of users’ feeds. Promoted Pins offer brands the opportunity to showcase older content at the top of search and category feeds. Descriptive tagging within image meta data and Pin descriptions will allow brands the organic opportunity to have older content served up to users when relevant through appearing in both search results and as Recommended Pins.
Analytics: While there hasn’t been any official analytics announcement, expect Pinterest to offer analytics that come with these new offerings. Brands can win from the gaining demographic and psychographic information about who is seeing and interacting with their Promoted Pins and Related Pins.
What does this mean for the future?
Over the past few months, Pinterest has rolled out exciting update after update. As the company grows into a social-sharing giant, we can only assume that this means even more opportunities for brands willing to take the plunge into Pinterest as a marketing tool.
Even without advertising options, Pinterest already drives the highest amount spent among popular social platforms. As learnings and feedback come out of the Promoted Pins beta test, more opportunities will arise for brands to engage further with an audience that is already willing to spend more money. Rather than idly sit by hoping consumers see and engage with a brand’s content, brands will now have the opportunity to directly target those consumers with messages curated specifically for them. With these monetization efforts, Pinterest is starting to become a real player in the digital marketing field across brands and industries.