Pinterest is the web and mobile application company that operates a photo sharing website. It is a free website which requires registration to use. It is the world’s catalog of ideas. The founders of the site are Ben Silbermann, Paul Sciarra, and Evan Sharp. It is managed by Cold Brew Labs and funded by a small group of entrepreneurs and investors. It is an online pinboard which allows you to pin things online and also saves all of your pins on your account so that you can access them easily. Every month over 100 million people around the world come to Pinterest to discover ideas to try.
A video is one of the best tools for bringing those ideas to life. In the last year alone, we have seen a 60% increase in video on Pinterest featuring everything from workouts and home projects to hair & beauty tutorials. That is why everyone is excited to roll out Promoted Video.
Pinterest has recently announced that they are going to launch a new type of video advertising called Promoted Video Ads. The new ads are designed as another way to help brands drive more sales on Pinterest. After testing with 12 early partners, including Lionsgate, Garnier, bareMinerals, and General Mills’ Old El Paso, Pinterest is rolling out Promoted Videos in the U.S. and U.K., with featured Pins beneath. Things to know about Pinterest:
What are Promoted Videos?
Promoted Videos are a new ad type that Pinterest users will see in their feed. Now Promoted Videos are only available on mobile and a desktop version will be launch in the future. The Promoted Videos play with sound on by default. Users can tap to watch the video ad in full screen. Pinterest is hoping that Promoted Videos will inspire users to buy from the brand after watching their video.
How much they cost?
You can buy Promoted Videos on a CPM basis ($15 to $20 per thousand impressions). Ad Age reported that a $500,000 minimum investment is required. You pay anytime a Pinterest user sees your Cinematic Pin for the Promoted Video, even if that user never views your video.
Here are the metrics Pinterest will share with advertisers about their Promoted Video:
- Video views.
- Clicks generated.
Pinterest’s Videos are more memorable. Pinterest has not provided much detail about early Promoted Video success stories but cited a study they conducted with Millward Brown. And according to Pinterest, “General Mills’ Old El Paso saw significant brand lift metrics and those Promoted Video ads were 4x more memorable than a non-video ad”.
How to Buy Promoted Videos? Promoted Videos are open to any U.S. or UK business that works with a Pinterest account team.
Promoted Video brings together some of the best elements of Pinterest. According to a recent report from Mary Meeker, 55% of people on Pinterest want to find or shop for products on the platform. Pinterest is offering something unique and valuable to people and businesses. With the help of 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.
Overall Pinterest Promoted Videos offer more than just views. And these Videos help businesses get the best results.