What Happened
Pinterest announced on Monday that it will soon provide its U.S. advertisers with advanced measurements to show how their Promoted Pin campaigns are performing beyond standard metrics such as number of impressions or re-pins. By working with market research firm Millward Brown Digital, Pinterest will start telling brands how their ad campaigns are doing in terms of lifting brand awareness, brand affinity, and even purchase intent.
In related news, the social scrapbooking service also announced that it is once again broadening its ad sales focus to cover brands in financial services, travel, and other verticals. The news came about 5 months after the company decided to narrow its ad efforts to only retailers and CPG brands last December.
Why Brands Should Care
According to a study by Millward Brown in partnership with Pinterest, 83% of active Pinterest users have purchased a product because of something they saw on the site. With the advanced measurements, brands advertising on Pinterest can now better understand which part of their campaign is driving conversion and brand lift to adjust their campaign efforts and use the insights to inform their future campaigns. The expanded ad sales focus should also come as good news for brands, as they can now receive some hands-on support from Pinterest’s ad team.
