“Pinterest is unique because users come to our platform with intent, and we are one of the few places where people can go from seeking inspiration to fulfilling that intent through action,” Ready added. “Monetization per user should also be driven by our ads initiatives,” said CEO Bill Ready, who last year joined Pinterest from Google, where he headed its commerce initiatives. This year, the company pushed further into short-form video territory through a new agreement with Condé Nast, which will produce 160 exclusive videos for the site from top brands Vogue and Architectural Digest.ĭuring its Q4 earnings call earlier last month, Pinterest remarked that it had grown its supply of video content by 30% quarter-over-quarter, adding that high-quality content would help to better engage users, particularly Gen Z. Last year, it enabled marketers to turn their Idea Pins into ads. While originally an image pinboarding website, the company shifted into video with the launch of Idea Pins in 2021, which offer creators a more TikTok-like experience. Over the past couple of years, Pinterest has been working to adapt to the growing interest in video from both consumers and advertisers alike. The new format would allow advertisers to capture these new customers - including those who may not have previously seen their ad if they weren’t among the targeted audience. Today, 97% of searches on Pinterest are unbranded, company data indicates.
Instead, they head to the search page to type in a more general query. But many Pinterest users don’t open the app to browse the feed, nor are they looking for a specific product. These pins then appear within the Pinterest home feed and within relevant search results. From there, Pinterest users can browse the retailer’s product suggestions, search for other items, add items to their cart and check out - just as they could if visiting Kohl’s website directly.įor years, Pinterest has catered to advertisers by allowing them to create Pins featuring products or ideas that they pay to promote and target to different audiences. The site opens within the Pinterest app, not as a separate tab. In addition to a short video that plays overlaid by text, there’s also a button that takes you to Kohl’s website. You can see the new ad format now in the most recent version of the Pinterest mobile app, where Kohl’s is currently advertising women’s spring apparel. This allows them to reach Pinterest users as they use one of the app’s key features - the ability to search for pins, inspiration and ideas. With the “Premiere Spotlight” ad, as the new format is currently being called, advertisers will gain access to a premium placement for 24 hours on the Pinterest app’s search page.
Pinterest has begun alpha testing a new advertising product that allows brands to reach consumers from a more prominent position within the company’s mobile app.
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