With the launch of Dynamic Product Advertising, Pinterest has become an even more interesting platform to advertise on. If you are in doubt whether it is a platform for you, here are the three best arguments for testing the platform – regardless of your business model and goals.
If you are just a little bit interested in digital marketing and social media, you are definitely familiar with Pinterest. But it is less likely that you know about the advertising opportunities on the platform and the benefits you can achieve.
Pinterest advertising is a relatively new feature in Denmark, which is still evolving. That is exactly why Pinterest can be an extra interesting platform for you to advertise on – there is a golden opportunity to move ahead of your competitors.
But before we dive deeper into this and the other good arguments for considering Pinterest advertising in your marketing mix, let’s refresh what platform Pinterest is.
What is Pinterest?
Overall, Pinterest is a visual social media that, like Instagram, focus on sharing photos. It is a medium where it is about creating inspiration, getting users to explore and make the curiosity grow.
But Pinterest differs from other social media by (like YouTube) acting as a search engine. Pinterest can thus be characterized as both a social media and a search engine – where especially the last part in recent years has begun to play a larger part.
In Pinterest’s first year of existence, the platform was mainly used as a source of inspiration to store and share inspiration via users’ digital message boards. But as the platform has grown, so have the usage patterns, and now we see that the platform is increasingly used as a search engine similar to Google and YouTube.
This opened a whole new world of advertising opportunities on the platform for you as a company and your products. And then, of course, it also created new opportunities to achieve results organically.
With an intelligent use of SEO, a post can achieve a long and broad organic journey if it also lives up to users’ visual expectations. You can come a long way on Pinterest with the right SEO strategy that we can help you put in place. However, we always recommend that you combine your organic flow with ads and Dynamic Product retargeting, as it will generally boost your performance.
Why you need to advertise on Pinterest
Similar to other social media like Facebook and Instagram, your ads are naturally included in the feed on Pinterest and one can easily confuse them with the organic posts.
On Pinterest, however, that impression is further supported by the fact that ad content often has the same character as organic content, and the way users interact with the sponsored content is completely consistent with the way they interact with the organic content.
On Pinterest, you can choose from several different ad formats, from standard pins to carousels, collections and video pins, which you can target based on demographics, interests and keywords, as well as uploading customer lists to retargeting and lookalikes. There is an ocean of different advertising options on Pinterest, once you get started.
And that leads us back to the beginning. Why should you consider to include pinterest advertising in your marketing mix right away? Here are the three main reasons:
1. Pinterest provide dividend all the way through the sales funnel
Whether your business goal is branding, traffic, leads or sales, you can achieve results on Pinterest. With a relatively low media spending, you will be able to quickly increase both your brand awareness and the traffic to your website.
But in fact, you will also find that the conversion rate on Pinterest is in the high end. It is particularly related to the users’ purpose of being on the platform, which brings us to the next argument.
2. You meet the customers where they are ready to buy
The consumers use Pinterest to find inspiration for products and ideas. The users you meet on Pinterest are therefore open-minded and ready to make a purchasing decision in a different way than the users you meet on other social media. Thus, figures from Pinterest itself show that 90 % of regular users make purchasing decisions on Pinterest.
On Pinterest, you can roughly say that users, unlike many other platforms, actually want to hear from you. They are in a situation where they are actively looking for new products and ideas. In fact, as many as 97% of searches on Pinterest are not brand-specific, so there are good opportunities to inspire new customers.
In addition to this, 98% of Pinterest users say that they have tried new things they have found on Pinterest. 77% of the regular users report that they have discovered a new brand or product through Pinterest, and 83% of the regular users have made a purchase based on content they have seen from brands on Pinterest.
If this is not a good enough argument to test the platform, then a third argument is presented. In fact, you can also save money on Pinterest ads versus other PPC channels.
3. It is a cheap platform to advertise on
Advertising on Pinterest is a relatively new feature that first came to Denmark in the autumn of 2019. Therefore, there is not as much competition on this platform as there is on the more established advertising platforms and social media.
It also means that for you as an advertiser it is cheaper to advertise here – you simply get more value for your money on Pinterest.
This especially applies for the platform’s latest ad format, Dynamic Product Advertising, which can be compared to Google Shopping. It is still a new feature, which means that you have the opportunity to be among the ‘first movers’ on this part.
Who should be on Pinterest?
As Pinterest is a visual medium, naturally not all companies will benefit equally from being on Pinterest. Although the latest figures show a significant increase of men on the platform, women are still strongly overrepresented. In addition, the platform is largely used to seek inspiration in topics such as fashion, housing, gardening, styling and DIY – a palette that is constantly expanding. So far, it will mainly be companies that sell goods in fashion, leisure and interior design, for whom Pinterest will be a particularly interesting advertising platform.
DO YOU NEED HELP TO GET STARTED ON PINTEREST?
At Iternum Digital, we can manage your Pinterest advertising for you – and of course help you devise a strategy regarding the use of Pinterest, which suits your business model.
DO YOU WANT TO BE ONE OF THE 'FIRST MOVERS'? YOU ARE WELCOME TO CALL US, SO WE CAN TALK ABOUT HOW WE CAN HELP YOU GET STARTED ON PINTEREST.
DIGITAL MARKETING AGENCY