During the fall of 2013, Pinterest allowed a limited number of large businesses (such as Expedia and Old Navy) to begin promoting individual pins. Now Pinterest is beta testing the service for its small- to-medium-sized business pages. The Promoted Pins program is a pay-per-click (PPC) model similar to Google Adwords. To complement the promoted pins program, Pinterest has improved its analytics. This gives Pinterest account managers better data to help them decide which pins are worth promoting, and gives the ability to track the click-through rates for each promoted pin.
Some Tips to Keep in Mind:
- Remember that people use Pinterest differently than other platforms. This will impact the search terms that you enter for your pin. In addition to researching Google search terms, spend some time plugging in search terms on Pinterest to better tailor your campaign for the Pinterest environment.
- Pinterest is visual. Try promoting the same content using pins with different images to see which image performs better.
- Pinterest has different levels of engagement. When measuring the success of your campaign, know that the click-through-rate is not the only metric to consider. Repinning also provides great exposure.
The monetary outlay for this PPC program is relatively low, and, according to an article in New York Magazine, the potential for a good return on investment is high. “Pinterest shoppers in general spend significantly more per checkout, averaging between $140–$180 per order compared with $80 and $60 orders for Facebook and Twitter shoppers, respectively.” CNBC reports that a study of 1,000 brands by Piquora, a company that helps retailers run Pinterest campaigns, found that, on average, a “pin generates 78 cents in sales and drives two visits to company websites.”
At this time, only US-based business accounts are eligible to take part in promoted pins. Take this opportunity to master a new platform while it is still new and uncrowded. That way you’ll be off and running with promoted pins while the rest of the crowd is still figuring them out!