Pinterest is finally making its very first paid search product available to brands and advertisers. The very first bunch of clients who were already testing an early version of this product include Home Depot, eBay, Barilla, Target, etc. The new offerings by the platform include Keyword campaigns and feed-based Shopping campaigns.
The campaign will run similar to the traditional PPC campaigns, wherein the budget is managed, targeting is done, and creatives are designed and used. Shopping campaigns will be created automatically from the advertiser’s product inventory. According to Pinterest, there are about 2 billion searches (by its 150 million users) happening every month on the platform, and an average user queries on Pinterest three months before he/she makes a purchase and that 97 percent of these queries on the platform have no mention of specific brands. Pinterest saw this as an opportunity for advertisers to leverage.
“People don’t know exactly what they want, but there is high commercial intent in our search queries,” said Jon Kaplan, global head of partnerships at Pinterest. “Search ads on Pinterest will enable our marketing partners to reach those customers when they are in discovery mode.”
It is quite normal for marketers to get a little confused on how to wisely spend their ad money on Pinterest as the latest offerings on the platform include video, search and social e-commerce. The thing with Pinterest is that it’s always very visual. Hence the search ads are going to be more images and less text, but the ads will offer keyword-based buying. According to Michael Akkeman, the head of marketing partnerships at Pinterest, the search queries that happen on Pinterest are quite broad, and that this is an opportunity for advertisers to target potential customers who are looking to engage with products/brands rather than customers who have specific queries and are closer to their purchase. According to sources at Pinterest, users on the platform do not really know what exactly they want, unlike the majority of users on Google or Facebook. This can help brands target customers who are in a discovery mode.
Pinterest is partnering with marketing software provider Kenshoo, in order to get more people use its search advertising product.
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