For all the companies who’ve spent years curating content and collecting an engaged audience on Pinterest: we’ve got some good news for you. TIME reports that the social media/curated search company is “is planning an aggressive expansion of its ad business this summer.” Consider us thrilled!
“The company will begin offering self-service ads through online auctions in this month. The ad units, targeted at small and medium-sized businesses, will allow marketers to bid to have their ads served against specific categories on Pinterest, such as fashion and home decor, and pay on a cost-per-click basis. Previously Pinterest ads targeted large, deep-pocketed brands and had rates set based on a cost per 1,000 views.”
This is huge news for smaller brands that may not have the large marketing budgets of larger businesses. Instead of paying for impressions with no guarantee anyone will click, they will soon allow a more engagement-based system: CPC (cost per click.) This is how we generally run all of our client ads on Facebook, Twitter and Google and much prefer it to CPM (cost per thousand impressions.)
Pinterest is ripe for some robust advertising: its audience is loyal and hugely engaged with the content. Brands could see some notable tractions with these new ads. More from TIME: “Pinterest has recently been trying to reposition itself as a curated search engine, rather than a social media site. The company unveiled in April a more robust search engine that helps guide users toward specific experiences and products when they input broad search terms. The new engine also presents a great opportunity to show off more ads, which appear as promoted pins at the top of search results.”