Ahead of its IPO, Pinterest is giving advertisers—and Wall Street–yet another reason to come flocking to the platform.
Starting today, Pinterest is rolling out “conversion optimization” in four different ad products: promoted pins, promoted videos, carousel and shopping ads. Now, marketers can set specific goals for their campaigns like online checkout or more sign up. The idea is by optimizing these ad products, the brand has less work to do, but will still meet goals instead of just driving people to click on the ad. In a promoted video ad, advertisers can also set conversion goals that lead a consumer to a microsite experience where they can act on the ad’s objective.
According to a Pinterest blog post, Gravity Blankets, a weighted blanket company, saw a two-fold increase in sales and a 58% decrease in cost per acquisition. Flaviar, a spirits membership company, saw a 400% increase in traffic and eight times more leads when it started to test the optimization tools.
“Pinterest is a very successful introducer for us,” said John Sheldon, CMO at SmileDirectClub in a statement. “Using a combination of our multi-touch attribution and our media mix modeling, we have been able to prove that it is actually one of the most efficient spends that we have in terms of bringing people to the brand that are incremental and that we would not have had otherwise.”
This new tool joins the growing toolbox Pinterest is creating for advertisers.