What Happened: Though Pinterest only recently introduced advertising on its platform, it’s quickly working to upgrade functionality for advertisers. Soon, brands will be able to target audiences using databases such as email lists to show ads to consumers they know will be interested, similar to Facebook’s Custom Audience tool. Additionally, Pinterest is working to add a measurement tool so brands can track how many online purchases came from an ad they placed on Pinterest.
What This Means for Brands While Facebook and Twitter may have more users for brands to target with ads, Pinterest is widely known to be much more successful at referring customers to online stores. Advanced audience targeting will only increase Pinterest’s effectiveness, showing consumers products that they’re interested in. The new measurement tool will help quantify the elusive social media ROI as it aims to link ads to sales. Also, as Pinterest is a female-dominated platform, the brands this will have the most impact on will be those catering to women, primarily those in the fashion and home decor industries – two of Pinterest’s most popular categories.
Contributing to Trending: Lucy Arnold, Chau Nguyen, Lauren Kostenberger, Kristin Johansen