Could Pinterest’s New Targeting Features For Advertisers Help Boost Your Sales?
Pinterest is on a growing list of social network’s that are home to millions of users. Although many social networks come and go just like the fleeting fashion trends of each season, Pinterest isn’t going away any time soon. From teens to mommy bloggers and countless markets in between, the site has a multifaceted and loyal demographic.
The site is based upon the concept of “pins,” pictures which could represent clothing, recipes or anything that someone else might find “pin-worthy”. If a user likes what they see, they can pin the picture and their followers will see it as well. Due to its highly-visual aspect and endless sharing capabilities, Pinterest is every advertisers dream space. Up until 2013, there was no advertising on the site. As Pinterest made a shift to mobile, they started experimenting with the concept of monetization.
Pinterest has recently gotten even more ad savvy, and now they’ve launched a few features that will give advertisers deeper insight into consumers. The biggest addition is retargeting. Every advertiser wants to know everything they possibly can about their target market. It’s vital to spend money on the right buys and not be wasteful in reaching consumers that might not live within your target demographic. Retargeting will allow advertisers to track users from their website onto Pinterest.
This insight will help advertisers out with targeting their ads to the right people. Another feature Pinterest added to the mix is, “lookalike targeting” this concept will facilitate advertisers by helping them find users similar to ones that are currently in their audience in hopes of garnering new customers. Finally, Pinterest added another new feature that will help marketers find additional customers by comparing the customer lists of advertisers to user information from Pinterest such as email addresses.
The world of social and advertising is ever-changing. Although it is yet to be shown as to whether these features will pay off for either Pinterest or their partners, the social media mogul could definitely be on the cusp of something great and that possibility in itself is why these new additions are worth watching.
As a consumer, it all sounds a little big brother-y. But, as marketing professionals we definitely see the value in these features. They will help companies to compete and be successful in the marketplace. It will make many processes run smoother for companies as they continue to try to close the gap between what they know about their consumers and what they desperately want to find out. What do you think? Are these new features marketing genius or just plain creepy?