Pinterest is making it easier for brands to advertise on it with a new self-serve model for its ads.
Previously, only Pinterest partner brands could place Promoted Pins on the platform, which were basically organic Pins from brands that were surfaced to other users through search and category feeds in a native format. Now, that feature is being made accessible to brands without them having to go through Pinterest’s sales department.
Instead, brands can go to ads.pinterest.com, a Pinterest ads portal through which they can buy Promoted Pins on a cost-per-click basis. Previously, these were priced on a cost-per-impression rate. Here’s what that dashboard looks like:
It has been reported that Pinterest has been charging ad rates in the range of $1-2 million, which clearly means it recognizes the value of its platform as a real sales driver. However, with the conceivably cheaper, self-serve advertising model, Pinterest will be able to get ad spend from small and medium businesses, for whom the returns could be far more substantial compared to their investment. Currently it is testing the DIY ads product with a small group of businesses, including vineyard vines, Nicole Miller and Shutterfly.
In addition to the new advertising platform, Pinterest is also introducing improved analytics for its business accounts. Here’s what it says the new analytics will have:
In addition to seeing what people are Pinning from your website, you’ll also be able to see how Pins from your Pinterest profile are performing. We’ll tell you which of your Pins and boards are driving the most impressions, clicks and repins. We’ll also clue you in to Pins that drive engagement across different platforms.