Pinterest Extends Promoted Pins Outside the US
Pinterest Promoted Pins [Figure 1] are sponsored posts that get priority placement in a user’s stream. Although the advertising platform is not as robust as Facebook, Instagram, and Twitter, advertisers can work with targeted audiences and behavior tracking.
Pinterest is a visual social channel founded in 2010 in San Francisco. Users – called Pinners – save, or pin, images, photos and videos of things they like to boards on their Pinterest account. Pinterest users can also collaborate and pin to each other boards. Pinterest is the most gender imbalanced of all social channels. Over 80% of Pinterest users are female. Pinterest Pinners like to shop too. Popular categories include home décor, fashion, do-it-yourself projects, and cooking. Brands use Pinterest to reach out to users through photos and visual tutorials of products and projects. Although Pinterest drives only a fraction of the traffic that Facebook does, the average conversion amount of a Pinterest shopper is higher than that of a Facebook shopper. This makes Pinterest attractive to brands.
Promoted Pins are one of Pinterest’s advertising solution. Advertisers can launch engagement and website traffic campaigns to bring Pinterest shoppers to their websites. Until now, Promoted Pins were only available in the United States. Pinterest is a private company built with VC money. According to Business Insider, the company is valued at about $11 billion. User accounts, including businesses are free leaving advertising its only way to monetize the over 100 million users.
The social media channel has other advertising solutions such as Buyable Pins as well as specialized Promoted Pins called Cinematic and the new How-to Pins.