Many companies do not consider Pinterest Ads when they are setting up their marketing campaigns. Although the platform does not receive as much attention as others, like Facebook/Instagram and Google, Pinterest Ads can provide significant value to your brand.
Over the last little while, they have slowly started rolling out updates to improve their ads platform. With these changes, Pinterest has broadened its range of tools and strengthened its core use case.
To help brands gain a better understanding of their audiences, Pinterest has launched a new user profile section. These user profiles portray the platform’s user base. According to Pinterest, the goal of this tool is “To help you better understand how people use Pinterest to find new products and ideas we are sharing the stories of a diverse group of people who did just that.” The user profiles consist of short summaries that provide insight on who these people are, what their interests are, and why they use Pinterest.
By clicking on the user profiles, you will be able to read about how these individuals use Pinterest and learn about their particular user demographic, which is supported by statistics. You can choose to filter profiles based on industries and regions that are relevant to your business. Pinterest’s new tool is especially valuable when creating buyer personas. With these profiles, brands internalize which users they are trying to target, what their buying behavior looks like, what their interests are, and more.
As reported by Pinterest, 90% of their users use the platform to decide what to purchase next. Essentially, Pinterest’s new tool allows brands to identify users’ interests based on their profile. In turn, they can establish campaigns that are more effective.
This year, Pinterest is expected to double its ad revenue from 2017, bringing in nearly $1 in billion in sales. (CNBC) According to CNBC, Pinterest is pushing for an IPO in 2019. Much of this success is due to the platform’s mobile search capabilities, which is drawing in advertisers.