Are Pinterest Ads worth it in 2021?
Pinterest is the 14th largest social networking site with globally more than 459 million active users per month. What’s more interesting is that an advertiser can reach nearly 200 million potential customers through the platform. Source: The Global State of Digital 2021.
So, if you’re wondering, are Pinterest Ads worth it? The answer is a big yes!
Setting up ads on Pinterest is comparatively easier than Facebook or Instagram ads. The platform helps advertisers to achieve a low Cost Per Click (CPC) and helps them to reach their target audience.
Talking about traffic campaigns, unlike other platforms, Pinterest bills on Cost Per Click. In CPC, the advertisers have to pay for clicks on their ads instead of paying for impressions.
Another advantage is that the advertised pins on Pinterest are not removed from the platform after the campaign ends and therefore, the interactions that occur post-campaign are free of cost.
Are Pinterest ads profitable?
According to Pinterest Metrics, almost 98% of users have tried new products and ideas they found on the Platform, more than 84% of the audience conduct their research on Pinterest and 77% of people have ended up finding a new brand or product.
Indeed, advertising on Pinterest is an effective method to include in the Digital Marketing Strategy of a brand. Pinterest advertising can maximize the online profits of businesses by helping them find a profitable target audience.
There are advertisers who have earned up to $21,969 in revenue by investing $775.50 on Pinterest ads. Additionally, they have also doubled their other revenue sources thanks to Pinterest, including organic traffic.
Therefore, Pinterest is definitely a powerful acquisition channel. It can boost up your business sales from 20% to 50% depending on the type of business. Around 70% of sales that happen on Pinterest come from new customers through promotional pins. Therefore, the platform gives you an opportunity to attract new customers who are willing to spend on your products.
How much should I spend on Pinterest ads?
On Pinterest, Advertisers generally aim at three campaign goals; building brand awareness, boosting engagement, and increasing web traffic. The advertisement cost on the platform depends on the campaign goal they choose while setting up an ad.
The average cost of an ad is expected to be between $2.00 to $5.00 per thousand impressions (CPM) if one is aiming at building brand awareness. The cost for boosting your online engagement and increasing web traffic varies between $0.10 to $ 1.50 per engagement.
The model used by Pinterest for ad placements is the bidding model. In this, the advertisers bid against their competitors for some specific keywords and placements. As a result, their cost of advertisement varies depending upon the number of competitors they’re dealing with.
For example, suppose a furniture company is aiming at building brand awareness. As it is a popular search on Pinterest, the company can expect to pay $5 CPM. But, if a company is planning to advertise on less popular searches, spending around $2 CPM would work for them.
Summing up, Pinterest ads are a cost-effective online marketing strategy that can help you reach your goals faster.
If you would like any assistance or campaign management by our team you can check out, our Internet Marketing services.
What ads work best on Pinterest?
Pinterest is a visually sound digital media platform that presents compelling images to its visitors. A common goal of the Pinterest audience is to find inspiration. They explore their feed to find interesting visual ideas that inspire them.
The ads put up on the platform should follow the same idea. Follow the best practices for Pinterest advertising and make your ad campaign a real success.
1. Vertical Formats
The pin should occupy maximum vertical screen real estate with fonts and text overlays to communicate your message.
It is recommended by Pinterest that the expected ratio of pins should be 2:3 or a bit taller with a minimum of 600*900 pixels and 600*1560 pixels maximum.
2. Straight to the point
The average time your pin will stay on the user’s screen is 2 seconds. So, it is important to keep your message straightforward and creative that’s clear for the viewers at first glance.
Use descriptions that include keywords and hashtags to make your pins search-friendly.
A popular way to stand out and capture the attention of your audience is by using in-feed motion video.
Through videos, your brand story gets promoted in a fun and engaging way that helps in capturing visitor’s attention quickly. So, the video should be short, crisp and straightforward.
Here’s a helpful guide about video marketing and how important it is
4. Add Brand Logo
Adding a brand logo is a simple technique that helps in brand recognition. Use a small watermark in your pin and guide your viewers to your brand without much effort.
5. How-to Content
Visitors often browse Pinterest looking for how-tos content and they appreciate pins that encourage them to take action. Feature how-tos or step by step guides in your pins. Use your ads to show the audience how your product fits into the needs of your viewers.
Here’s a simple guide on how to write a How-to Content easy!
6. Quality Visuals
It is extremely important to focus on the visuals of the pins. High Quality, Good lighting and resolution should be the priority here.
7. Multiple products
It is proven that pins with more than one product drive more traffic. This is because it addresses people with different tastes and preferences.
To prevent excessive clutter, the maximum no. of products one should use in their pins should not be more than four.
The above-mentioned practices will help your brand in launching high performing Pinterest ads.
How do you target a Pinterest audience?
To earn a high ROI from Pinterest ads, it is important to ensure that you don’t exhaust your budget by promoting your ads to everyone. Pinterest ad targeting filters and options help you target your audience for higher ROI.
Advertisers can use these targeting filters on Pinterest to ensure that the right audience is being targeted for their ad campaign.
1. Interest Targeting
If the advertisers use this option, their pins are promoted on the feed of viewers based on what pins they like when they browse their category or home feed. Interest-based targeting helps the advertisers to build their brands with audiences who are open to discovering new ideas.
2. Keyword Targeting
Keywords targeting refers to target the audience who search for certain keywords. This is a very effective strategy as visitors who actively search for some product are definitely interested in it.
Keywords help the advertisers in targeting high-purchase-intent viewers who can be easily converted into customers by showing the right ads at the right time. This increases in-store sales, boost online traffic and drive online actions of your brand.
Talking about the technical aspect, there are five keyword match types including exact match, broad match, phrase match, negative match, and negative exact match.
3. Audience Targeting
A unique targeting option that targets the audience who had some interactions with your brand or people who are similar to your audience. Using this technique, the four major categories that can be targeted are customer targeting, website visitors, engagement targeting, and Actalike targeting.
4. Demographic Targeting
The most basic type of targeting filter that Pinterest provides is Demographic Targeting. This feature helps the advertiser by filtering their target users by location, language, age, gender, and other demographics.
The advertisers have to do prior research about their target audience to fill in the given details. Each ad created should target a specific customer segment. Different ads have to be made for audiences who have different demographic profiles.
In this blog post, I mentioned some popular searches that people want to know about like if Pinterest ads are profitable, how much should I spend on Pinterest ads, what ads work best on Pinterest and how do you target a Pinterest audience.
An advertiser has a lot of potentials when it comes to advertising on Pinterest.
Pinterest provides a platform to advertisers to grow their online brands and get actionable traffic and in-depth data from the audiences. The app is precisely designed to promote products and ideas. It is said to be the only marketplace where promoting and sharing products isn’t perceived as intrusive by the audience.
Pinterest users are very acceptable for new brands and innovative ideas. Advertisers can grow their business and earn significant profits by being the brand that offers new ideas and products to the target audience.
Pinterest ads are definitely worth giving a shot as it increases your visibility with the right customers. So, set up your Pinterest ad campaign and start driving massive traffic to your page.
Click on the link, to begin advertising your brand on Pinterest right now!