Pinterest On The Rise
Pinterest is among the fastest growing social networks. It is an online pin board where you can share images, recipes, DIY, etc. The correct terminology for the act of sharing images and the posts themselves, are both called pins. Users can Pin what you want to save and organize your Pins onto different boards. There are more than 30 billion Pins on Pinterest and it is available in 31 languages. According to comScore, Pinterest has grown to about 70 million users globally. There are many brands, businesses, and bloggers that are using Pinterest. Women are Pinterest’s largest user group.
The next big step for the network was the recent release of Promoted Pins. It was revealed on January 1, 2015 to any business interested in sharing for enterprising purposes. Promoted pins were initially launched to big companies such as ABC Family, Target, Old Navy and were specially selected to test out the beta version.
Research noted that promoted pins are shared 11 times on a average and advertisers get about 30% in earned media. Which means every $1,000 in advertising dollars the brands received $300 more worth of free impressions.
What are Promoted Pins?
Promoted Pins are paid ads on Pinterest where businesses can target specific locations and demographics. These Promoted Pins can help businesses promote or draw attention to a certain Pins when they have something special that they want to feature. It will get them exposure for people who don’t follow the business yet on Pinterest.
Right now, Promoted Pins are only available to certain businesses in the U.S. It is running on a Cost Per Click (CPC) basis, which is the amount you spend each time a user clicks on the ad.
In addition to Promoted Pins, they are introducing Pinstistute, which will focus on the measurements on how well the businesses is doing. Pinstitute will teach businesses to use the platform effectively while tracking and measuring their performances. Pinterest has selected a couple of businesses to join them in their first workshop in March.
How does Promoted Pins works?
Once you sign up for Pinterest and the site gives you access, you’ll select a pin that you want to promote. You will enter keywords to help your pin show up in search results. You can also define your audience in different demographics. Then you’ll set a start date and end date along with a budget. Pinterest does have a set a rules and there are some things you cannot promote, but for more information check out their website.