If you’re a business owner, you may wonder if Pinterest ads are worth the investment. After all, the platform is known for being a visual inspiration board rather than a place for doing business. With over 400 million monthly active users, Pinterest can be a powerful marketing tool if you know how to use it.
Benefits of Pinterest Ads
Advertising on Pinterest is a great way to increase organic traffic to your website. Ads on the platform are optimized to reach potential buyers interested in your product. Start by creating engaging content that Pinners will find valuable. Some may decide to re-pin your post to various boards and drive consumers to your product.
Pinterest ads also last longer than Instagram and Twitter ads. This factor distinguishes the platform from its counterparts. Your promotion pins can show up on feeds months after the campaign launch.
Another benefit of Pinterest ads is that they drive purchases. Statistics show that 83% of Pinterest users make purchases based on the brand content they see on the platform. With this, you can leverage the purchasing power of Pinners to maximize your ads.
All of these indicate that advertising on Pinterest is a great idea for brands to meet their sales and visibility targets.
How Much Do Pinterest Ads Cost? Are They Worth It?
Pinterest ads do not have a fixed price. Instead, the auction system allows you to set the maximum price you want to pay to achieve a target. For example, your goal may be to drive engagement on your website, improve CTR (click-through rate), or garner more impressions. Once you set your preferred price, you will see the available rates for your objective.
Pinterest ad rates are set based on the type of ad, size, keywords, and categories of audience you are targeting. You will have to pay between $2 to $5 per 1,000 impressions using cost-per-mille (CPM). Each engagement costs between $0.10 to $1.50.
These figures are widely drawn, and there are still several factors to consider when determining the exact price. All of these will reflect while you’re setting up your ad. Once you finalize the payment, you can schedule your posts and send them to Pinners.
If you’re wondering whether Pinterest ads are valuable, the answer depends on your brand and what you’re looking to achieve. Pinterest has a large following that allows you to reach many users interested in your product. Your ad will be shared with your target audience, increasing the possibility of sales.
Still, it’s crucial to research and ensure that Pinterest is the right place for your brand.
Pinterest Ad Types
Pinterest has various ad types for businesses and influencers looking to make money on the platform. Here are some Pinterest ad types that you can consider for your campaign.
App Install Ads
Some Pinterest ads require an app to access the promoter’s content/product. The beauty of Pinterest ads is that you do not have to exit the platform to install the app. Ads created for this purpose allow you to install the app directly from Pinterest without visiting the Play Store.
Carousel ads are similar to standard pins but allow you to swipe or click to reveal more images. You can add between two to five images in a single pin for users to swipe through. Additionally, the ad will display a “Promoted by” label before your brand name to show that it’s a promoted ad.
Carousels are preferable because they allow you to share more information about your product than standard pins.
Product pins are advanced pins that let users virtually try on products through Pinterest Lens. This type of Pinterest ad uses augmented reality to achieve its purpose. You need to upload your product catalog before using this ad type.
Shopping ads are similar to app install ads. However, they allow users to make purchases directly from the pin. As a seller, you should customize your shopping ad with a “Buy” button to enable users to buy your product directly without leaving Pinterest.
Promoted pins are similar to regular pins. These pins are optimized to reach more people and allow descriptions of up to 500 characters.
Video ads are great for grabbing attention on Pinterest. Amid all the photos on the platform, your video will appear as fresh content for many Pinners. Ensure that the video is short and does not rely too much on the audio.
This is a necessary warning because most Pinners watch videos through autoplay, which does not enable the audio automatically.
Collections are ads that feature a large photo or video with smaller contents below. You can tap the primary or secondary image to display more items in the collection. Collections ads are great for advertising products with an extensive range.
Pinterest Ads Best Practices
You must understand Pinterest ads’ best practices to optimize the platform for your ad campaign. Some practices you should note include:
Determine Your Objective: Before starting your Pinterest ad campaign, you must set your objective. For example, the goal could be to build awareness, engagement, conversations, consideration, etc.
Find Your Niche: Identify a niche where your goal seems achievable. For this purpose, you must research and target areas that will offer you meaningful impacts.
Set Your Budget: Pinterest allows you to set your daily or lifetime budget for your campaign. Set your maximum budget considering Pinterest’s recommendation.
Create an Ad Group: Ad groups enable you to categorize ads within the same campaign for easy tracking.
SEO: Leverage the 500-character limit in the description to include keywords and details that will improve your ad’s visibility.
Keep Your Content Fresh: Don’t design generic content, hoping it will remain evergreen and serve its purpose. Instead, keep your ad updated with Pinterest’s new ad tools to improve your chances of driving organic traffic.
Track Campaign Performance: You need to track your campaign performance to determine its success. Check the Analytics to see how the post performed in various areas.
Now that you understand Pinterest Ads, from pricing to tags and best practices, the next step is deciding if this platform is right for your brand. If you do choose to advertise on Pinterest, here are some things to keep in mind:
- Pinterest ads have a broad and lasting reach. However, you can delete pins on Pinterest when you no longer want them to reflect on your board.
- Pinterest uses an auction system that allows businesses to set the preferred price for their ad campaigns.
- There are various Pinterest ad types for businesses to explore. Evaluate your business needs to determine the most suitable option.
- Follow Pinterest ads’ best practices to achieve your goal.