In a virtual event on Wednesday, the social-media app Pinterest announced the launching of new tools aimed to help marketers reach their audience better. These include new video ad products, trend-identifying tools and a new conversion insights tool that will allow brands to better understand what leads consumers to make purchases.
“We want to deliver more inspiring content,” states Pinterest’s CMO, Andrea Mallard. “So we need to make sure that this helps with more inspiring content and increasingly more inspiring users. We want to continue to invest in video to provide our users with more dynamic experiences, like how-to tutorials, and more engaging, immersive storytelling from brands. So we are taking these first important steps to build a creator ecosystem around story pins so that a new generation of creators can create great content and enrich the lives of pinners.”
Newest Addition: Pinterest Premiere
Among the new video ad tools is Pinterest Premiere. This tool will allow for companies and brands to advertise during specific time frames within the pinners’ home feeds to reach users based on demographics, categories and interests. Pinterest will also be upgrading the augmented reality features on the site, so users can virtually test out home decor in their space or try on clothing through the app.
This new focus on video content comes after video views on the platform were up 100% year-over-year in the fourth quarter of 2020 and daily video views totalled 1 billion. Video uploads increased by 800% in 2020, according to Pinterest. The fastest-growing categories seem to be Gen-Z and male users as both increased by 40% year-over-year.
While Pinterest has traditionally relied on user-generated content for their site, they are recognizing the growing need for influencers and we will most likely see the recruitment of these creators soon. Speakers at the event also addressed the need for more diverse representation in advertising and content creators, something Pinterest has made a priority from the beginning. Canadian Dan Levy was in attendance and gave his take on the topic. “It really goes a long way to know that companies value, in my case, a gay man, but it should go way beyond me,” Levy stated. “There are people that don’t really see themselves reflected in a lot of advertising and those are the people that I think should be approached and brought into the conversation.”
Not Just Your Mother’s Preferred Social Network
For years, Pinterest has been known to resonate mostly with a female audience and particularly moms–but it hasn’t stopped there. Pinterest reports that as of January 2021, they now have 459-million monthly active users—that’s nearly half a billion people. Adding that their fastest growth is coming from two main demographics: Gen Z and men. Yup, who would of thought? Pinterest reports that globally, both audiences have grown by 40% year over year in 2020.
No matter which audience you look at, they’re on Pinterest to discover new ideas. Be visually inspired or looking for ways to collect their thoughts, visually.
So what does this mean for advertisers? A whole new pool of users you can advertise too–using all of their new bells and whistles. Want to figure out how to best integrate Pinterest into your digital or content marketing strategy? Connect with us today to find out.