In preparation for the Christmas business, Pinterest has announced a whole series of new functions that should make it easier for retailers to promote their products on the platform.
Pinterest seems to be increasingly becoming a shopping platform. The company itself emphasizes that products should not be bought on Pinterest, but rather shopped. The difference is the aspect of inspiration, which plays a major role on Pinterest, and brings shopping on the platform closer to the non-digital variant. All the more reason to become active as a retailer on Pinterest – especially because the platform has now announced some new features to make business easier for merchants during the holiday season (and beyond).
Focus on presentation: a more appealing shop profile
A number of the new functions announced by Pinterest relate to the presentation of your own shop and a design that is as appealing and practical as possible. For example, the shopping tab has been redesigned to look more like a shop window. The products in the shop should also be better organized. Pinterest explains:
An updated profile enables merchants to transform their shop tab into a storefront with featured in-stock products organized by category, featured product groups and dynamically-created recommendations.
In addition, if users search for shopping-related keywords – such as “fall sweater” – in the future, they will be suggested retailers that match this keyword particularly well. In addition, a tool is currently being tested with which merchants can mark their own products on a scene image.
Collections as a new advertising format
But not only the way the shops are presented should be improved. A new advertising format is also one of the updates that Pinterest has announced. Brands should be able to create collection ads in the future:
Some products just belong together. That’s why we’re bringing together catalogs and collections to make collections a shopping ad format. As part of this update, brands can now also select a main asset and a corresponding product group to create an inspiring, multi-image ad unit.
An update, which many merchants will surely be pleased about, is the possibility of using a hero video instead of a hero image – this means the main element of the collection that is displayed the most. This could boost sales significantly. In addition, retailers can now add to their catalogs as needed – in future, they should be able to freely determine when which product is uploaded.
Automatic bidding and more insights
Using automated bidding, brands can use insights and data to target their campaigns to the right users – based on their habits, activity and so on. Pinterest, like many other platforms, now wants to introduce this option. And for a good reason:
On average, advertisers who tested Automatic Bidding for Catalog Sales saw 28% more conversions when optimizing for the ‘Conversion’ event and nearly 29% more clicks when optimizing for ‘Click’ event for the same budget.
Another new feature is a visualization tool that retailers can use to get a better overview of the performance of their pins.
Pinterest published a detailed guide for advertisers back in July, and more ad slots and insights for marketers were announced in September. With the new updates, Pinterest retailers and marketers are now making it even easier to start effective campaigns on the platform and sell their products.