As social media popularity keeps booming, advertisers turn more often to these platforms. Yet, the power of one platform — Pinterest — is underappreciated by some marketers. Hence, today we consider why Pinterest gains more advertising.
About Pinterest
Given the popularity of social media platforms such as Facebook and Instagram, the audience size of other platforms may go underappreciated..For example, today we consider Pinterest.
First, take a look at statistics about Pinterest. In particular, look at the audience. The source of this infographic is Omnicore.
What does this all mean? That Pinterest should be a key advertising partner for many marketers.
Pinterest Gains More Advertising
Now, see how Pinterest’s advertising revenues are booming. Over the past few years, revenues have taken off.
“In our first-ever ad revenues forecast for Pinterest, we expect the social network to generate more than $500 million in US ad revenues this year. A 43.8% change from last year. By the end of the forecasting period in 2020, Pinterest ad revenues should cross the $1 billion mark. Also, Pinterest is rising among the ranks of major video ad publishers, like Roku, with the introduction of its new video ad product. For 2018, we forecast that the platform will generate $7.15 in average ad revenues per user (AARPU). That’s a 34.4% increase over the prior year.”
To learn more, look at the chart below.
Pinterest is a unique social media platform as it is a lot more personal instead of interacting with others and sharing your life updates with them. The feed is based off everything you like or could be inspired by, and is a very visual website meant for scrolling. The way the ads are set up are to look like they are pins one can save, but are disguised as such to not disrupt the aesthetic of the feed. These ads are also typically brands and companies which match the rest of our interests, which can lead us to following the ad if we are not aware. I am not surprised more companies have not taken advantage of advertising on Pinterest or have offered more of their services in partnership, but I believe this could help the app grow in popularity and overall usage in competition with other soial media sites.
I used to be active on Pinterest since it is more of a private social media. I used the App to have some quotes I liked, photography, room ideas and gift ideas. I remember it did contain Ads but the weren’t as annoying since they were just pins. Just as the internet works, these ads were based on our likes and the type of content we had on our Pinterest account. Companies can definitely take advantage of how easy it is to put an Ad on the App, but I get that this social media is not one of the strongest out there and will continue to decline.
Pinterest is a very different type of social media. It is more about what you like rather than interacting with others on the site. Obviously the ads on this site weren’t as annoying as on other sites because they weren’t as in your face about them. They are also geared more towards what the users like and pin so they can sometimes be helpful or something that user wants.
Pinterest is a very cool social media platform. I personally do use pinterest a lot but in different ways than other social media. I do not use it to post pictures or share ideas, I use it to find ideas. For example my family just bought a new house and my Mom uses it all the time to get new house ideas for our kitchen and bedrooms. Also, I used to work for a kids party place and sometimes the Mom’s would tell us all of their theme ideas came from pinterest.
Although I don’t have a Pinterest, I do know that it’s a social media platform much more private than that of Instagram, Twitter or Facebook. Pinterest is used to make things like ideas for weddings, bedrooms, parties, and other sorts of things like that! Because the experience is much more personalized and focused on specific tasks at a time, it would be very easy for advertisements to slip in virtually unnoticed, especially advertisements that are relevant to specific people on the app. Pinterest is unlike other social medias in that it’s more focused on you than those around you, so the advertisements would fit in, focusing on you, much more easily!
I have a Pinterest account and in my opinion, I would not categorize it as a social media platform. I would more categorize it as a more user-friendly search engine, users search inspiration, recipes, hobbies etc, and they can pin the things they like, there is not as much social interaction as Instagram or Twitter. Due to its high amount of users, I would suggest companies to advertise their products on Pinterest, especially if the ads could relate to the user’s searches.
Pinterest is not like other social media platforms, it is a lot more distinct and private. Sometimes the ads are not as noticeable because they can be apart of your interests and many people can end up following the board. Pinterest is mainly used as inspiration, not to communicate with others. Companies should take advantage of this by advertising on this platform because it can bring a lot attention based on a consumers needs.
I find it impressive how the revenue of Pinterest has increased drastically. Pinterest is an interesting App with unique features. It uses a lot of displays for idea-sharing, which is very purpose-oriented and convenient. More importantly 82% of users are female, so that makes it very attractive for companies that sell female products.
Pinterest is a social media platform that not all flock too immediately. However, it is a unique advertising opportunity that has a lot of potential to grow in the future. I know from personal use that Pinterest effectively hides ads within boards so that I don’t even know some of the pins I look at are ads. I can really see how this could be a great place to advertise for many business especially because of the wide array of content that is on Pinterest.
Considering how all the firms try to advertise on google and Facebook, it is evident that the competition on these social media platforms is immense. Same is the story with twitter and Instagram. Pinterest, as others pointed out, is a unique social media platform which calls for a unique type of advertising. I think more firms have realized that advertising on pinterest bring more consumers to the products and actually results in increased sales as people use pinterest to look as things that they are already interested in.
I remember trying to get into Pinterest back in my early years of high school and wasn’t a huge fan of it because it wasn’t really a “interacting” form of social media that I wanted at the time, looking back at the app now I can now saw that I admire the app for standing out and being different from the other big heads of social media (Facebook, Twitter, Instagram). The app is great for advertising many products, some that you might have a better chance of finding on the app rather than Amazon or any other marketplace.
Pinterest is definitely, in my opinion, a sort of hidden gem. Many people use it, as evident by its audience statistics and numbers, yet it is not the first social media platform that crosses many people’s minds when they are asked to think of their favorite social media site. However, there is so much more to Pinterest than meets the eye. It may not be as popular to many people becuse of the fact that it does not encourage posting as fequently as instagram or Facebook, however, it seems to be an untapped resource for marketers, advertisers, and even viewers of the platform. As shown by the graphic above, their advertising revenues are only predicted to grow, so it would be smart of potential marketers to partner with Pinterest.
In my opinion Pinterest is one of the app that does not require any reaction performance. This aspect that you do not have to press like for the picture can attract users. And it is more sophisticated and interesting as an alternative for Google Pictures. So, all in all, Pinterest is a great app to search for visual inspiration.