October 2021 was a big month for advertisers on Pinterest. Because the platform wanted to increase the amount of advertising on the site, they have introduced new ad features. As an ecommerce advertiser, Pinterest is now back in your toolbox. Keep reading to learn about Pinterest’s new ad features and how to use them!
Let’s Back Up: Why You Should Advertise on Pinterest
If you’re not already marketing on Pinterest, you might be hesitant to start since there is, of course, going to be a cost associated with any new paid advertising channel. So let’s dive in: As an ecommerce retailer, why should you advertise on Pinterest? Is it worth your time, resources, and budget?
Put simply, Pinterest is popular. It’s the third-largest social media platform in the United States and the 14th largest globally, and Pinterest users spend 50% more than competitor platforms, including Instagram and Facebook. On Pinterest, not only will you get a large audience seeing your ads, but you can target this audience just like you can with any paid advertising.
Here’s more information about the users on Pinterest:
Pinterest browsers are quick to recognize the platform’s effect on what they buy. For example, their weekly users are 7 times more likely to say Pinterest is the most influential platform in their purchase journey.
Let’s Back Up Even Further: What is Pinterest?
Pinterest defines its platform as “a visual discovery engine for finding ideas like recipes, home and style inspiration, and more.” In other words, it’s another search engine to get your products in front of consumers.
Even before the new features discussed below, the platform has always been a great place for ecommerce retailers to sell their products thanks to something called buyable pins. In short, these are posts on Pinterest, and buyable pins make the conversion process easy for consumers.
Below is an example of a buyable pin:
What are the New Ad Features on Pinterest?
As of October 2021, Pinterest has added the following features to increase advertising:
1. Slideshow for Collections
Pinterest’s new slideshow for collections feature pulls products from your catalog and automatically turns them into a collections ad. So rather than just previewing one product in a single image, you’ll have the ability to showcase many products at once. Since Pinterest users have 85% bigger shopping carts than people on other social media platforms, the Slideshow for Collections feature was added to encourage Pinterest consumers to buy more products in one purchase.
Below is an example from Pinterest business:
Another bonus of this feature is that it functions similarly to a video. Unlike a static picture ad, the video-like slideshow is eye-catching for Pinterest browsers. In addition, this feature makes it easier for you to create video-like content. Just make sure your pictures of your products are visually appealing and professional to catch the eyes of consumers!
2. Sponsored Idea Ads
Idea ads are an extension of idea pins, which were introduced to Pinterest in July. This ad feature allows creators to sponsor a video highlight reel showcasing their ideas and products. Below is an example of a sponsored idea ad:
Video ads are more effective than photo ads, but just how much more effective? Check out these statistics proving increased engagement with video ads:
But although idea ads could significantly enhance your Pinterest marketing strategy, you have to do it right. Here are our tips:
- Make sure to overcome ad blindness first, so consumers don’t automatically check out.
- When it comes to video ads, consumers determine the value of your content in the first 3 seconds. So if you don’t catch their attention in the first 3 seconds, they’ll keep scrolling!
- Don’t just show the product. Demo the product. Show it in use. Demonstrate how your product is improving the lives of your consumers. Get creative here and show off the benefits of your products.
- Make it clear what your ad is advertising by including product close-ups. This removes all the background noise and narrows your audience in on your products.
- Keep your video short. Even if you grab your audience’s attention, you’ll quickly lose it if you drag the ad on. Pinterest recommends keeping your video content between 6 and 15 seconds long.
- And don’t forget to craft the perfect Call to Action (CTA)!
3. Merchant Details
The new merchant details feature encourages brands to showcase their values on their profile. Why is this important? Because many consumers care not only what they’re buying but who they’re buying from.
Just how many care? Let’s look at the 2020 data. The purpose-driven consumers made up 41% of the people studied.
The purpose-driven consumers will seek companies that align with their values. For example, if a consumer cares deeply about animals, then this person will look for companies that don’t test on animals. Likewise, if the consumer cares about the environment, this person will look for companies that do too.
You get the point – any value a purpose-driven consumer aligns with, they will find brands that also align with it. With the new merchant details feature on Pinterest, you can show consumers that your products are sourced responsibly. You can also identify with a community, for example, Women-owned or Black-owned.
Below is an example of the new feature:
Not only is it great to have values as a company and practice what you preach, but you also have to integrate your values into your branding strategy. Don’t interpret it as bragging about your company. On the contrary, by sharing your values openly, you’re developing brand awareness and finding like-minded (and probably repeat) consumers. A tip on using this new feature: Always remember to be honest and transparent because if you’re lying about your brand values, consumers will be able to tell.
4. Expanding Verified Users
Pinterest’s Verified Merchant Program allows shoppers to find reputable brands. In addition, the feature benefits business owners because they receive enhanced distribution on the platform, and they have a badge that helps them build trust with consumers.
This feature has expanded and is now available in more countries, including Italy, Austria, the Netherlands, and more. To join, you have to apply.
Here’s what it looks like when you’re verified:
Take Advantage of Pinterest’s New Ad Features
Even before Pinterest’s new ad features, the platform was full of marketing opportunities for eCommerce businesses. Now, Pinterest has added features that will improve your strategy and give you another way to connect with your audience. In other words, if you’re not on the Pinterest bandwagon yet, 2022 is the time to get started to keep up with the competition.
Need a little help getting started budgeting, running campaigns, or understanding how it works? Let us know!
