Advertising on Pinterest has been but a dream for many businesses, but soon, that dream will become a reality.
Earlier in 2014, Pinterest launched promoted pins beta, which was available to certain brand advertisers, including Expedia, Nestle, Ziploc, Gap, Target and Old Navy, according to Tech Times. Come Jan. 1, 2015, promoted pins will be available at a CPM (cost per 1,000 impressions) to all United States-based partners.
Pinterest has seen promising results from promoted pins beta, according to the company's business blog. Here's what Pinterest learned from the beta test:
- Promoted pins work well for a whole range of brands, both in and out of Pinterest's core categories. Everything from financial services to food and even auto companies saw good results. [Pinterest for Business: Everything You Need to Know ]
- Promoted pins perform as well as (and sometimes better than) organic pins. Engagement with promoted pins is just as high as it is with the average pin, and brand advertisers achieved about a 30 percent increase in earned media from their campaigns.
- Promoted pins still perform well even after a campaign ends. In fact, many brands saw an extra 5 percent increase in earned media in the month following the end of a campaign.
And while Pinterest isn't rolling out an auction-based or CPC (cost per click) campaign option for all advertisers yet, these types of campaigns also saw success in the beta test, with brands seeing major gains in traffic and impressions.
"The bottom line: Pinterest is a place where helpful, inspirational creative can lead you to big, measurable results," wrote Joan Bradford, head of partnerships at Pinterest.
The company also announced the launch of a new program called the Pinstitute. This program is designed to help businesses better connect with Pinterest users and see greater returns from their campaigns. The Pinstitute will focus on both creative and measurement, so advertisers can learn what kinds of pins perform well, what Pinterest users care about and more.
Pinterest will be holding quarterly Pinstitute workshops for a select group of brands. The first workshop is scheduled for March, according to the blog.
But not to fear — the social network isn't leaving out small businesses. Bradford noted that Pinterest will be holding a series of webinars, along with other online learning tools, for small businesses.