Pinterest gets serious about video as it unveils new ad format with General Mills, bareMinerals and Kate Spade as launch partners
In its ongoing quest to woo advertisers, Pinterest has revealed a ‘Promoted Video’ product for brands. The new ads will let companies share video content with the platform's 100 million users.
Pinterest gets serious about video as it unveils new ad format with General Mills, bareMinerals and Kate Spade as launch partner / PINTEREST PROMOTED VIDEO PINS
The mobile-online tool will boost the visual bookmarking site’s ‘Promoted Pins’ and e-commerce offerings, and is currently being tested in the UK and US.
The format will comprise of silent GIF-style ads that users have to click-to-play upon seeing them in their Pinterest feed.
The platform, which allows users to curate and share images via an online scrapbook of ‘Pins’ has said that 75 per cent of all content consumed within its walls comes from businesses – so it’s no surprise that the US-based firm wants to double down on video advertising.
Pinterest’s first ad format, Promoted Pins, launched in the US in 2015 and landed in the UK earlier this year. Promoted Videos will work in a similar way but rather than simply displaying images of products, the Pins will instead showcase mini-films through the site’s native video player.
Pinterest users will be able to discover videos from brands that match their interests, be it fashion, cooking or interior design but unlike other platforms the Promoted Video experience will also allow customers to take action on what Pinterest has described as “one seamless experience”.
This is down to the fact that featured Pins from brands will appear alongside the video ads; these will display any products used or shown in the film and in the US Pinners will be able to click on the Pins to buy products – all without leaving the site.
So, for example a makeup artist watching a bareMinerals ad for concealer in the US could be served a ‘Buyable Pin’ beside the video inviting them to purchase the product, or a set of featured Pins that would display all the items used in the ad. Alternatively, related products or tutorials could be served up to the user.
Pinners can also ‘save’ video ads to their scrapbooks so they can return to watch them if they are on the go, something Pinterest claimed further sets it apart from other social platforms – ie Facebook or Instagram.
Designed to be purchased as premium, reserved inventory, Promoted Videos will initially be available to an exclusive set of managed brand partners in the US and the UK. Advertisers like General Mills, bareMinerals and luxury brand Kate Spade will be trialling the offering stateside, while UK collaborators have yet to be announced.
Pinterest boasts 100 million users globally, and in terms of native video said that users are saving 60 per cent more native videos on the site than they were in 2015.
The company has been testing the new feature out for some time with General Mills, and said that the early results look “promising”. According to a Millward Brown study, General Mills’ Old El Paso found that Pinterest Promoted Video drove “significant brand lift metrics”, with users finding them four-times more memorable than a non-video ad.
“We’ve run several campaigns with Pinterest and consider video a natural evolution on how we want to connect with our Pinterest audience,” said Meredith Schaffner, Old El Paso’s marketing manager, adding that the brand’s customers were coming to Pinterest with “high intent and the ability to show a recipe and our products through video is a unique opportunity to drive higher performance.”
Pinterest been doubling down on its advertising model lately, particularly in the UK, and its latest move will help bolster its positioning as a search engine which can track the entire customer journey, from inspiration right through to the point of purchase.
Adele Cooper, the UK and Ireland country manager for Pinterest said: "Millions of people come to Pinterest everyday to discover ideas relevant to their interests and 67 per cent say videos on Pinterest inspire them to take action.
"We’re looking forward to providing this new experience as a benefit for both people on Pinterest and for brands."