Your Pinterest Advertising Questions – Answered!
What is Pinterest?
Pinterest is an image-sharing social media app ideal for consumers to gather ideas and inspiration for significant projects, shopping events, and more! With over 85% of users using the app to plan new home, event, and other projects, financial institutions need to connect with these consumers to provide relevant financial products and services that will help them make their big ideas a reality. To help you get started, we’ve answered your most common questions about advertising on the platform to guide you into a successful Pinterest strategy.
Why use Pinterest Advertising?
With over 445 monthly active users 7x more likely to make a purchase than on other platforms, Pinterest is a massive motivator in a buyer’s journey. This platform is ideal for attracting buyers using specific campaigns that will assist them in financing significant purchases relevant to renovations, new homes, special events, and during major shopping holidays. In addition to the buyer potential, Pinterest’s audience is becoming more diverse than ever before. In 2022, Pinterest reported that Gen Z and male Pinners are up by 40% year over year, while US millennial Pinners are up by 35% year over year. This is a diversion from their past audience, consisting mainly of women.
What audiences can be reached on Pinterest?
Pinterest has in-depth targeting features used to define audiences based on demographic information such as locations down to the zip code, gender, device type, age, and language. In addition, unique audiences can be found using “interests,” aka topic categories, and specific keywords searched. Banks and credit unions can use these tools to reach the following customer groups prevalent on the app to provide them with the financial tools they need.
Home Remodelers
One of Pinterest’s most popular uses is to gather ideas for home improvement projects or remodels. This is proven with keyword searches such as “kitchen remodel ideas” reaching up to 3 million monthly searches, and “bathroom remodel ideas” with over 5 million. With 52% of homeowners concerned about the cost f their home improvement projects in 2022, this provides a unique opportunity to reach those already in the planning phase of their latest remodel who may need financing.
Shoppers
Pinterest is a shopper’s paradise, especially during the biggest shopping seasons of the year! The holiday and back-to-school seasons provide a massive opportunity to reach shoppers with “christmas gift ideas” over 5 million monthly searches “school outfits for fall” up to 1 million. More specifically, holiday shoppers on the platform are reported to start preparation as early as July. When you also consider that over half of consumers prefer to pay with a credit card during the 2022 holiday season, this proves to be an excellent opportunity to promote your latest holiday credit card offer.
Event Planners
From weddings to other major life celebrations, Pinterest provides the perfect platform to plan for the big day! With weddings and event planning on the list of top pin categories, popular keywords include “wedding ideas” with over 5 million monthly searches, and the more general term “event décor” reaching up to 2 million. With the average wedding costing $28,000 in 2021, many brides may need additional financing to make their” Pinterest wedding” a reality providing an opportunity for financial institutions to reach these consumers at the right time.
Small Business Owners
Small businesses have been on the rise in recent years, with many business owners flocking to Pinterest for ideas and advice on various related topics. Among the most popular keyword searches was “small business plan,” with about 1 million monthly searches and a 23x increase in 2021 vs. 2019. In addition, as of 2022, the unmet funding needs for small businesses came to about $5.2 trillion. Pinterest provides the opportunity to reach a portion of these businesses whose financial needs may not be currently met.
What types of ads can be placed on Pinterest?
Pinterest ads focus on a “visual-first” format with several options for creating an advertisement or sponsored content. Each ad format consists of a short message focusing on a unique form of imagery and a link to any corresponding landing pages that users can swipe up or click to visit. Any ads described below appear among organic pins or posts connected to relevant topics or keywords targeted in the ad set-up process. A pro tip for making the most of these ads’ performance is to optimize the copy below a pin (image/video), as Pinterest allows up to 100 characters in the title and 500 characters in the description.
Standard Ads
These ads have a single vertical or square image to showcase a promotion and include a clear call to action on which users can click or swipe up.
Video Ads
Video ads are among the most visually engaging formats and are perfect for telling a solid story and capturing users’ attention. This type of content has successfully attracted attention on the platform, with pinners watching just shy of 1 billion videos daily on Pinterest.
Shopping Ads
Shopping ads primarily focus on physical product promotions with the ability to convert any organic product pins into ads. This creates a direct link to purchase any products you have available to sell.
Carousel Ads
Carousel ads are made up of several images for users to swipe through, creating multiple opportunities to convert them into clicks.
Collection Ads
Collection ads display multiple images and/or videos in a hybrid format, which is excellent for demonstrating different variations of a single product or promotion.
Are you interested in developing a Pinterest advertising strategy? Strategis is a full-service marketing agency developing strategies proven to increase (ROI) through a wide range of methods. Contact us today!
