Pinterest introduces new conversion features for Promoted Pins and Videos
The new campaign features come to Pinterest in advance of its pending IPO, allowing advertisers on the platform to define conversion goals with greater accuracy.
Pinterest launched two new conversion tools for advertisers on Thursday, offering conversion optimization for Promoted Pin campaigns and a new conversion goals feature for Promoted Videos. Both are available to any brand with a Pinterest business account.
Conversion optimization for Promoted Pins. Before now, Promoted Pin campaigns were optimized only for clicks. But now, with the newly introduced conversion optimization feature, advertisers can optimize Pinterest campaigns for specific actions to drive online checkouts, more signups or better leads.
“Advertisers who care solely about performance have been able to achieve their business goals using manual inputs,” Pinterest wrote on its news blog, “But the new conversions objective allows them to hit their goals quickly and easily without additional effort.”
SmileDirectClub CMO John Sheldon said the conversion optimization tool is one of the most successful things his brand has done.
“Pinterest is a very successful introducer for us. Using a combination of our multi-touch attribution and our media mix modeling, we have been able to prove that it is actually one of the most efficient spends that we have in terms of bringing people to the brand that are incremental and that we would not have had otherwise,” said Sheldon.
Conversion goals for Promoted Videos. Pinterest is also expanding Promoted Video features to include “conversion goals,” that click to open a landing page that contains the advertiser’s website and a closeup of the video.
Why you should care. Pinterest has gradually been gearing up its ad platform and e-commerce efforts for the past months as it nears its IPO. The newly added conversion features for both Promoted Pins and Videos illustrate the company’s push to build out its ad offerings and give advertisers more bells and whistles for campaigns on the platform.
“The great thing about the conversion optimization tool is that it would only spend when we were hitting our marketing goals and objectives. This eliminates a lot of the manual work typically involved in campaign optimization,” said Brody Mazurek, digital marketing lead for the temporary-tattoo brand Inkbox.