Social Media Platform Pinterest Rolls Out New Search Ads
Social media giant Pinterest is looking to tap into a market that has already proven to be wildly successful for Google: search advertising. Earlier this month, Pinterest announced that it was in the process of testing Search Ads with a handful of select partners. The social platform plans to make this new product available to a wider range of marketers. This is a huge development for brands of all sizes and a true testament to the power of the Pin.
Each month, Pinterest reaches 150 million unique users, with more than half of those users from locations outside the United States. One of the main reasons people visit the site is to conduct searches for products, project ideas, and services, ranging from what to cook for dinner to how to style a nursery and everything in-between. According to the Wall Street Journal, more than half of the site’s activity comes from search, with nearly two billion searches completed on a monthly basis.
Until now, marketers could push out ads using keywords, but these ads would run throughout the site, seamlessly woven in alongside relevant organic content. With the new update, the search ads will appear immediately after people type in search queries. Similar to search ads on Google, the new ads on Pinterest will be paid for on a cost-per-click basis. According to Business2Community, the key difference between Google and Pinterest search ads is that Google primarily uses text-based ads, Pinterest’s search ads will primarily feature engaging imagery.
It’s important to note that 97 percent of Pinterest’s search queries do not mention a specific brand. This means that its users are in active discovery mode. Pinners are particularly open to finding new brands to check out and eventually making a purchase from. Pinterest users typically begin their research months in advance, so pushing out ads prior to peak times, such as holidays, wedding season, etc. may have an impact and help sway users in their buying decisions.
In addition to getting products to show up in relevant searches, this feature update will also include improved targeting and reporting options. Marketers are looking forward to having better data and audience insights which will allow them more effectively target both their current and potential customers with ads that accurately represent their interests.