As Pinterest moves closer to its initial public offering, the platform continues to build out its ad tools, with a view to maximizing its potential, and boosting its market value.
Pinterest has unveiled two new ad options – Conversion Optimization and Promoted Video for Conversions.
On the first, Pinterest is following the lead of other social platforms in providing an automated way for advertisers to optimize their ad reach for a chosen goal.
As explained by Pinterest: “Conversion optimization is a new campaign type that optimizes Promoted Pins for specific consumer actions, rather than just clicks.”
For the first time, advertisers can choose conversions as a campaign objective and inspire people to take specific actions like online checkouts, increased signups or stronger leads, further added.
In order to utilize Conversion Optimization, you first need to have the Pinterest Tag installed on your site. Once you have the Tag in place, you’re able to track visitor actions after seeing your ads on Pinterest.
This will then enable Pinterest’s system to better determine which types of users will take different actions in response to your ads from there, the system can use that data to form templates of user behavior, and enable you to target different people to achieve different objectives.
Obviously, results will vary, and it is particularly dependent on the dataset you’re able to provide. But it’s an interesting option, and can drive significantly improved results in many cases.
At 265 million users, and growing, and with users coming to the platform with high purchase intent, it’s definitely worth considering the potential of Pinterest within your digital marketing program.