Pinterest just announced a new analytics tool available to advertisers. While the visual platform previously offered basic analytics, the new tool will provide a more robust scope into customer insights including pin impressions, repins, demographics and location info. Since releasing Promoted Pins last year, Pinterest has been slow to catch Instagram and Twitter in becoming a more advertiser-friendly platform. With the release of its new analytics tool, Pinterest advertisers will be better equipped to optimize performance, and in turn help drive more advertising dollars to the platform. This continues the 2014 trend of social media becoming more performance focused. While the push towards better analytics is timely and useful to advertisers, Pinterest expressed the importance of greater visibility to provide optimal user experience. *image courtesy of Pinterest IMPLICATIONS for ADVERTISERS Advertisers should leverage Pinterest’s new analytics tool to:
- Understand the Pinner: Pinterest now provides advertisers deeper insights into consumer interaction with Promoted Pins. Local advertisers in particular can gain from new location-based information. All advertisers can benefit from the additional insights into gender and demographic information.
- Optimize Content: Additional consumer insights from the new tool will enable advertisers to continuously provide and promote better content, leveraging a performance content approach
- Maximize Budget: More effort into reporting and insights will allow for advertisers to allocate additional budget to the social platform and in turn help inform larger marketing investment strategies
- Drive Participation: Along with expanded performance measurement, the new tool will help advertisers gain insight into consumer interaction between organic and paid pins. Advertisers that see a lift in organic pin interactions after seeing a Promoted Pin can use this insight to justify adding budget to Promoted Pins.
- Test & Learn: Advertisers should leverage the above strategies to optimize paid campaigns on Pinterest. With better analytics capabilities, advertisers can test different content and image strategies and gain customer insights that can be applied to their larger marketing strategies.
For more info on Pinterest’s new analytics tool, please contact your Performics Account Team today