There has been an undeniable surge in paid social activity in 2019 as many brands switch on to the benefits of demographic-targeted social media advertising.
Data earlier this summer confirmed that paid social is growing quickly, with a 37% increase in Q2 of 2019. At the same time, retail spend on product ads has also spiked to the point where they accounted for 42% of paid search spend for the quarter. Pinterest appears to be reacting quickly to this trend and has announced a series of new features for advertisers which neatly tap into this proven demand for product ads and paid social media placements.
In an official announcement made just a few days ago, it confirmed the launch of several new features for business users including expanded business profiles, a new ad format and the international rollout of catalogue and shopping ads.
Expanded business profiles
If you have a Pinterest business account, you’ll notice a few changes and new features the next time you log in. The new look profile is designed to be more dynamic and will place a renewed emphasis on your Pins and products. One of the most notable changes is the addition of a Shop tab which will allow visitors to shop from your profile. Pinterest says it will also drive more traffic to your website, making it especially useful as the holiday shopping season approaches, given the discovery nature of the Pinterest platform.
Messaging has also been upgraded to make it quicker and easier for businesses to engage with Pinterest users, answer questions and provide customer service directly from the profile page.
Finally, you’ll have more freedom when it comes to your profile cover, with more options for video and image customisation to better help you stand out.
New ad formats
Over the next few months, Pinterest will begin to roll out a new mobile ad format (initially to US advertisers only) called Shop the Look ads. The ads will allow retailers to bundle products up into collections and shoppers to click on a Pin to be taken to the same products on the retailer’s site. The new ad format is based on the existing Shop the Look pins which are already available as an organic shopping format to selected advertisers in a handful of markets. The mobile ads will give shoppers a preview of four items from the collection. When they click through, more will appear.
Global expansion of Catalogue ads
Back in March, Pinterest launched Catalogues to allow retailers to upload their entire inventory to the platform to be turned into dynamic Product Pins. On the back of this, selected advertisers in four European countries will now have access to Catalogues and Shopping ads based on catalogue uploads. This addition means advertisers will be able to turn their inventories into shoppable Pins quickly, easily and at scale.
If you’d like to learn more or chat with us about paid social opportunities for your business, get in touch with us today.