Why Pinterest Became Critical To Marketers In 2015
February 10, 2016
Learn how this unique visual discovery tool became a key ecommerce player last year by introducing new creative units, targeting and measurement.
‘Promoted Pins’ Enable High-Impact, Paid Campaigns
October 2013: Pinterest announces the platform is testing native ads. Called “Promoted Pins,” they look identical to regular Pins except for a “Promoted” label at the bottom. They are served to audiences within Pinterest search results and category feeds.
January 2014: Following the success of the beta program, the platform opens reservation-based Promoted Pins to U.S.-based partners.
Pinterest Introduces Website Conversion Tracking
September 2014: Brands can analyze performance and see how their Promoted Pins are driving conversions by adding a website conversion pixel, a small piece of code that attributes online conversion events (i.e. buying something on a website) to ads served on Pinterest.
Pinterest Marketing Developer Partners Bring Paid Media Expertise To The Platform
June 2015: Pinterest launches the Marketing Developer Partners (MDP) program, which includes SocialCode. With this designation, SocialCode helps large consumer brands plan, optimize, execute, measure and iterate on their Pinterest campaigns with high impact and precision.
‘Buyable Pins’ Facilitate Ecommerce
June 2015: Pinterest announces buyable Pins. People who connect their Apple Pay account or credit card to their Pinterest profile can buy certain items flagged with the blue “Buy It” button within the mobile Pinterest app. Buyable Pins are found in search results, as well as the Pinterest Shop category, and can be filtered by price. The development creates a frictionless mobile shopping experience.
October 2015: Pinterest adds three new commerce platforms — Magento, IBM Commerce and Bigcommerce and doubles the number of buyable Pins on the platform.
December 2015: Just in time for the holiday shopping season, Pinterest introduces price-drop notifications to alert people whenever a buyable Pin they save drops in price.
Advanced Visual And Keyword Search Rival Major Search Engines
June 2015: Pinterest introduces advanced search capabilities, auto-populating matches similar to terms people type to make product discovery easier.
November 2015: Pinterest introduces Visual Search, a new tool that lets users zoom in on a specific object in a Pin’s image and get results for visually similar Pins. If a user spots something in a Pin that they want to learn more about, they can tap the search tool in the corner, select the part of the Pin that they are interested in and Pinterest will return results with visually similar objects, colors, patterns and more. The feature allows Pinners to filter their Visual Search results by topic to find exactly what they are looking for.
Better Targeting Refines Campaign Precision
May 2015: Pinterest unveiled new audience targeting based on interests, life stages (i.e. Millennials, Baby Boomers) and personality (i.e. “foodie” or “traveler”). Previously, marketers could only target people on the platform based on gender, location, language or device.
New Bid Types Help Marketers Test Smarter
May 2015: Pinterest unveils cost-per-engagement buying (which on Pinterest mean offsite clicks, repins and closeups). Marketers can now compare against a cost-per-click model to best steer their investments towards goal achievement.
Cinematic and App Pins Offer More Creative Variety
May 2015: Pinterest unveils Cinematic Pins, a Promoted Pin that moves as fast or slow as the person scrolling.
Pinterest Expands Geotargeting With Place Pins
October 2015: Pinterest expands geolocation targeting capabilities by capturing location data from the 100-million plus people who use Place Pins. This development allows marketers to combine purchase-intent data with geolocation data to target people with regional promotions.
Platform Statistics Surface Audience Reach, Diversity and Prestige
- Pinterest now has more than 100-million monthly active users, 45 percent of which are outside the U.S.
- The number of Pinterest searches increased by 81 percent in 2015.
- More than half of women between ages of 34 and 55 in the US are on Pinterest.
- One third of online Millennials are on the platform.
- Men and Hispanics are a growing demographic on Pinterest.
- Pinterest’s Hispanic user base grew from 3 percent in 2014 to 9 percent in 2015.
- Pinterest’s male user base jumped from 13 percent in 2014 to 18 percent in 2015.
- Standard Pins
- Cinematic Pins
- Rich Pins
- App Pins (featuring an install button for iOS apps)
- Place Pins
- Product Pins
- Recipe Pins
- Movie Pins
- Article Pins
- Buyable Pins
A Millward Brown study found, in a sample of 2,000 people that used Pinterest in the last six months:
- 87 percent made a purchase because of Pinterest content
- 96 percent use Pinterest to research purchases
Data from commerce-platform Shopify indicate that people on Pinterest have an average order size of $50, higher than other channels.
- Pinterest is the second largest traffic source to Shopify stores.