Pinterest Introduces New Advertising Tools to Assist Brands and Creators in Product Discovery
Pinterest is introducing two new ad options to enable marketers to get into its Stories-like Idea Pins, as well as a new 'Paid Partnership' tagging procedure that will give creators another way to profit from their Pin efforts.
To begin, Pinterest is rolling out a new ad product called "Idea Ads," which, like Idea Pins, are full-screen, multi-page presentations with unique links.
According to Pinterest:
“Audiences can view a brand’s inspiring content, visit their site and follow step-by-step DIYs or demos, all within the ad.”
Idea Ads will show in user feeds, as seen in these samples, and will employ Pinterest's interest targeting techniques to boost engagement.
It's basically an Idea Pin that you can enhance with paid marketing to get your content in front of even more app users.
Furthermore, Idea ads with paid partnerships allows marketers to promote user-generated Idea Pin content.
As seen here, the option allows businesses to increase the reach of collaborative Pin projects, putting your promotions in front of the creators' audience, your audience, and those you pay extra to target.
Paid partnership Idea Ads have a 'Promoted by' label underneath the creator's name, along with links to both the creator's and partner brand's app accounts.
It's another method for the app to generate more favorable creative collaborations, which aids brands in producing better content while also paying creators for their platform skills.
And it's effective. According to Pinterest, brand collaborations with creators result in a 38 percent increase in brand recognition and a 37 percent increase in Pin awareness.
And this brings us to the final new feature: Pinterest is releasing a new Paid Partnership Tool, which will allow artists to earn money from their Pinterest efforts by just tagging businesses in their Idea Pins.
As previously stated, the method allows creators to tag a partner brand in their Idea Pin, which notifies the brand of the possibility of collaborating. The creator and the company then work out the details of their collaboration, and brands can promote the content further if they want to.
As stated, it's another method for creators to generate money streams while also serving as a showcase for them, with free ad examples open for approval in the app.
It could be a smart way to streamline brand relationships while also offering up new avenues for promotion through collaborators you might not have considered before.
That might also serve to demonstrate the potential benefits of Pins, which many marketers may still be skeptical about, especially given the app's recent decline in user numbers. Pinterest gained from the pandemic's early phases, as well as global lockdowns, which drove more people to eCommerce for product discovery. However, as circumstances normalized, those users returned to offline purchasing, and Pinterest's usage figures declined.
Nevertheless, those who do use Pinterest are becoming more interested in purchasing, and with 433 million monthly active users, there's still a sizable audience to tap into with your campaigns.