Pinterest is about to make a lot more money—theoretically, anyway.
The social media platform is opening up its self-serve advertising platform, called the Promote Pins Ad Manager, to small and mid-size businesses.
That means even the mom-and-pop shops can now reach the more than 100 million users on Pinterest. The company will also boost the number of targeting
options from 30 to 420 by adding in subcategories among the possible user interests.
Marketing Landfurther explained:
At the same time as it adds more interests to target, Pinterest is introducing a new way to use those interests. Previously the ads appearing in content
feeds like the Pinterest home page could be targeted by interest but not by keyword, and the ads appearing in search results could be targeted by keyword
but not by interest. No longer. Advertisers can now use interest targeting and keyword targeting simultaneously.
The company thinks that the ability to target those interests will be a key differentiator between it and competitor platforms like Facebook and Twitter.
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"Pinterest knows more about the interest of its users than any other platforms," Nipoon Malhotra, Pinterest's ad products lead, told AdWeek.
"This is very different from a graph that represents something you browsed a month ago."
Pinterest will enable brand managers to upload databases of customer emails—much like Twitter and Facebook currently do. PR and marketing pros can then
target those customers (or subscribers) based on their interests.
The platform has been beta testing the self-serve ad option for some time, and it says that it’s been largely successful. Pinterest’s own numbers show that
brands that spend $1 per day on the platform’s ads see a 20 percent boost in post clicks.