Pinterest Shopping Intent – What the IPO Means for this Network

Pinterest is the top social network for finding and
shopping for products among US users.* So it’s no surprise that after their IPO
announcement, Pinterest is expanding their
lower funnel ad offerings to support shopping intent. Shortly before the
announcement in March, the visual search platform rolled out their new shopping
objective, catalog functionality, and shopping ads, making it easier for you to
directly grow online sales from Pinterest advertising. As a refresher, the
shopping objective promotes dynamic shopping pins that use a catalog, which
pulls information from your website such as product name, price, description,
and availability. To learn more about these offerings, check out “3
New Features to Help You Achieve Online Sales on Pinterest”
the Ignite blog.

Pinterest also recently unveiled the website conversion
objective, making it easier to drive actions to your website. With this new ad
objective, you can optimize for a conversion event such as Add to Cart, select
from a variety of attribution windows that look at days after click,
engagement, or view (30/30/1, 7/7/1, 7/0/0, 1/1/1, or 1/0/0), and set a target
cost for average cost-per-action. This is a big change for Pinterest, as the
lower funnel traffic objective previously only allowed advertisers to optimize
for clicks. Optimizing for desired conversions will let you reach those
qualified users who are more likely to convert. To use this optimization, the
Pinterest Tag and events will need to be implemented on your site. Add the base
code to every page on your site and event codes on the pages you want to track
specific conversions. Having these in place will also allow you to track
actions from your media buy and create custom and lookalike audiences of those
who visited your website.

Custom audiences are very important when running your
lower funnel campaign, as these users are more likely to convert than broad
audiences. Check out “Content
for the Customer Journey – Phase III: Conversion”
on the Ignite
blog to learn more about building and using these audiences. Lastly, with this
objective, you’ll be able to utilize standard promoted pin, promoted video, and
carousel ad units for driving conversions on your site.

Now with the IPO out of the way, we expect to see Pinterest
work aggressively at securing ad dollars to increase revenue. It’ll be
interesting to see how they will build up their lower funnel ad offerings to support
shopping intent on the platform. We’ll be sure to keep an eye out for their
newest features and share our insights on the best ways to use them.

Looking to develop a paid strategy to increase your sales from Pinterest? We’d love to chat.

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*Source: Cowen and
Company, “Facebook: US Ad Buyer Survey and Consumer Survey Highlights; Model
Update,” Jan 10, 2019

The post Pinterest Shopping Intent – What the IPO Means for this Network appeared first on Ignite Social Media Agency.

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