How Pinterest Audiences Can Help Maximize Your Campaign Investments
July 17, 2017
Brands know by now that reaching the right audience in the right location is imperative for digital advertising success. Luckily leading platforms recognize the importance of a strong audience strategy and have created targeting tools to maximize return on paid media spend.
Pinterest Audiences goes beyond traditional keyword and interest targeting, unlocking the opportunity to target niche audiences and serve personalized content to them. Whether you’re looking to retarget website visitors, existing customers, those who act like your most valuable customers, or simply engaged users, Pinterest Audiences has a solution for you.
Website Visitor Retargeting
Pinterest’s visitor retargeting can identify Pinterest users that have previously visited your website and allows you to target your Promoted Pins to them when they are most likely to take action. Brands can retarget individuals based on specific events. For instance, if you only want to target visitors who viewed a specific product, visited a specific URL, or added a product to their cart but never checked out, you have the ability to do so. Visitor retargeting is especially powerful to drive conversions, turning passive customers into active ones.
Customer List Targeting
Brands can either include or exclude an uploaded CRM list. If brands want to reach high value customers to prompt additional purchases with specific CTAs, brands can do so through customer list targeting. Conversely, if a brand’s objective is to drive new customer acquisition, CRMs can be excluded from targeting.
For brands that have identified their most valuable customers (people with the highest customer lifetime value), Actalike Audiences can provide the ability to obtain new customers of high value. Actalike Audiences allow you to target individuals who are similar to an existing audience by analyzing Pinners’ interests and behaviors. This allows your ad dollars to go further by only targeting individuals who’ve expressed interest in something similar to what you provide, and are willing to take action on the platform.
Engagement Audiences allow brands to target individuals who have interacted with any Pin that leads to your domain, whether posted by the brand or a user. All that the brand must do is confirm their website URL. These Pinners are much more likely to take action on your Promoted Pins, as they have shown intent or interest in the past. On top of this targeting capability, you also have the ability to target or exclude individuals who have taken specific actions, visited specific URLs or interacted with unique Pin IDs.
A SocialCode luxe retail customer maximized their prospecting campaign by using Pinterest’s Customer List and Actalike targeting. When building audiences from the brand’s CRM, as well as audiences that behave similarly, the retailer saw:
+30pts higher ROAS for CRM audience compared to interests/keywords
+7pts less expensive CPA for CRM audience compared to interests/keywords
+3pts higher cart size for CRM Actalikes compared to interests/keywords
Additionally, SocialCode gathered the following insights when using Pinterest Audiences:
- Look at performance for granular CRM segments: Brands should not only segment their CRM into different cuts to deliver the right message to their customers, they should also be monitoring performance to identify trends that could lead to higher-quality Actalike Audiences. For instance, the top shoppers segment may contain stronger Actalike signals than the total shoppers pool.
- Exclude CRM and Actalike Audiences from interest/keyword audience: In order to gather clean results and accurate insights, brands should keep the two audiences separate.
- Scale prospecting results by testing granular Actalikes: Test Actalike Audiences created from more niche audiences such as high-value customers, engagers or website visitors to identify top performing segments.
- Make optimization and investment decisions off ROAS or CPA rather than click data: SocialCode has proven the value of Pinterest as a direct response channel, especially with the aid of Pinterest Audiences, and thus brands’ investment and optimizations should be based off the proper data signals.
Ad targeting continues to be central to digital advertising strategies. With Pinterest Audiences, brands can reach individuals most likely to convert on a platform where they have shown intent and intend to take action.