As of January 1, 2015, Pinterest’s reservation-based Promoted Pins (available at a CPM) will be made accessible to all advertisers. Having launched a Promoted Pins beta for its brand advertisers eight months ago, the official announcement from Pinterest noted the following points that have been obtained from the beta –
- Promoted Pins perform as good and sometimes better than organic Pins: brand advertisers achieved a 30% bump in earned media from their campaigns (that’s from people who saw a Promoted Pin and thought it was good enough to save to one of their own boards).
- Engagement is strong: the average Pin is repined 11 times – this has also been found with Promoted Pins.
- Promoted Pins perform long after a campaign ends: Pinterest saw an extra 5% bump in earned media in the month following the end of a campaign.
- Auction-based Promoted Pins (CPC) are also seeing success: Many self-serve beta partners are seeing major gains in traffic and impressions. Pinterest is currently making tweaks to the product before it’s released to all businesses.
In addition to this, Pinterest has introduced the Pinstitute – a new program designed for brands to learn how to better connect with their target market, focusing on creative and measurement. As it stands, only a select number of brands and agencies have been invited to attend the quarterly held Pinstitute workshops, the first scheduled for March, 2015. However, a series of webinars and online learning tools are to be made available for small businesses.