Pinterest, a social platform known for its visual appeal and unique sharing abilities, has revealed new components to the advertising aspect of their website. Aiming to compete and maintain a market value similar to Facebook and Instagram’s advertising platform, we’ll break down why these two new features matter.
So for starters, the two new features that Pinterest has introduced are Conversion Optimization and Promoted Video for Conversions. But what exactly does that mean for us? Well, Pinterest says of the new features:
“Conversion optimization is a new campaign type that optimizes Promoted Pins for specific consumer actions, rather than just clicks. For the first time, advertisers can choose conversions as a campaign objective and inspire people to take specific actions like online checkouts, increased signups or stronger leads.”
But again, what does all of that really mean? Well, for business owners, it means that once you have the Pinterest Tag installed on your website, you can track your visitor’s actions after seeing your ad on Pinterest. (Note, you need to own your own website to do this.) This now enables Pinterest to automatically develop specific templates catered to each visitor’s individual tendencies to yield higher business results for you. Therefore, if you want more “conversions” such as people heading to your site to make purchases, you can select the “Conversions” option and Pinterest will show your ads to potential customers who are statistically proven to be more likely to convert (i.e. leave the Pinterest app to make a purchase on a different site).
Additionally, Pinterest has introduced Promoted Video for conversions. Pinterest states of this feature:
“We’re also expanding our Promoted Video offering to serve advertisers who have traffic or conversion goals. Promoted Video for ‘conversions’ goals will click into a landing page that houses the advertiser’s website, as well as a closeup of the video. Promoted Video has proven to be a powerful format to drive these objectives as it uses sight, sound and motion to demonstrate product features and benefits.”
So there you have it! If you’re looking for more direct sales as a result of conversion, make sure you’re checking out Pinterest as a viable option. With over 265 million users and growing, it is certainly not a platform to overlook.