Pinterest is launching a new ad suite that will address the ad concerns of brands and marketers
Pinterest is a hub of products, how-to’s, and lifestyle inspiration, and until now, had underdeveloped ad offerings that were preventing marketers from advertising through the platform. Business Insider reports that the company will now be offering new ad formats as it hopes to grow into a sophisticated and all-encompassing ad platform. The enhanced ad platform will feature digital couponing, sales and coupons that can be tacked onto a Pinterest ad. The coupons let users test and ultimately purchase a product, and with the plethora of retailers that inhabit the site, the coupons should do well.
In the past, marketers had avoided advertising on the platform because of the inability to track user demographics. Pinterest’s new pitch deck offers some solutions to this concern: for example, marketers can employ contextual marketing using user demographics displayed by their position in life (newly wed, millennial, retiree) and their interests, which are divided into 22 sections on the site. Marketers can also use the 32 different content categories and additional search terms to target key consumers.
Pinterest’s move comes at a time when ad dollars are increasingly moving from traditional advertising to digital formats, with a strong growth in mobile, video and social spending. Mobile particularly is increasingly important in the shopping experience, and is a category that marketers cannot afford to pass up. Over the next five years, marketers will embrace the mobile experience more than ever before.