Pinterest is out to prove that it's a performance-driven advertising platform that can compete head-to-head with Google.
Starting today, advertisers will be able to bid on cost-per-impression through an auction—much like Google's Display Network—to set prices. Brands can already buy ads based on cost-per-click and cost-per-engagement through the auction, but up until now, brands have had to buy CPM-based ads at a fixed price. In theory, brands will be able to optimize their media spend better to achieve either more impressions or cheaper ad prices with the new tool.
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