Pinterest announced today (Aug. 17) that it is rolling out Promoted Video, its new video ads service that could mean big changes for small businesses.
Although Instagram, Facebook and Twitter already have some form of video advertising program for business users, Pinterest claims Promoted Video unites the best parts of Pinterest and, as such, makes it the strongest social network for boosting sales via videos ads.
"Over 100 million people around the world come to Pinterest every month," wrote Mike Bidgoli, product manager at Pinterest, in a blog post. Additionally, 55 percent of them use the content sharing site to shop for pinned products, and 67 percent say Pinterest videos play a huge role in influencing how they engage with brands and the purchases they make. [See Related Story: Pinterest for Business: Everything You Need to Know]
However, only 12 percent of people say that about social networks, Bidgoli said. This is because Pinterest does more than just display video ads, unlike its rival social networks.
"While other platforms primarily offer video views, we've coupled Promoted Video with featured Pins below the video," Bidgoli said.
This means that instead of passively watching video ads, Pinterest's Promoted Video gives users a more interactive experience and offers more ways to discover new products. For instance, cosmetics brand Bare Minerals uses makeup tutorials as their Promoted Video, and then adds the products being used as featured Pins below the video so customers can easily find and purchase them.
Videos are also played using Pinterest's native video player, making it an integrated part of the platform. This lets users watch video ads and seamlessly browse featured Pins without leaving the website or the Pinterest mobile app.
"With Promoted Video, businesses can share their ideas with the people who are looking for them and make it easy for them to give these ideas a try," Bidgoli said. It is also suited for a wide range of businesses and industries, such as food, beauty and entertainment, he added.
Pinterest Promoted Video is currently available in the U.S. and U.K. The service is being rolled out to business users who are working with a Pinterest account team. Business owners who are currently not working with a Pinterest account team can express their interest in Promoted Video by visiting Pinterest for Business and submitting a contact form.