Dive Brief:
- Pinterest is looking to bring sales conversion metrics to brands advertising on the platform through a partnership with Datalogix.
- The social scrapbooking platform is also seeking a partnership with Acxiom, the marketing technology and data services company.
- The moves come at a time when Pinterest is looking to rebrand its marketing identity as a search platform rather than a social media site.
Dive Insight:
An ongoing challenge with digital advertising is measurement and tracking, particularly following the performance of an online ad all the way to the conversion to sale. Pinterest is looking to solve this issue for its advertisers through a partnership with Datalogix, and its database that helps brands tie ad views to sales. According to industry sources Pinterest is looking to add the third-party tech into its platform, and the company is currently negotiating with martech and data services company Acxiom.
An advertising insider told Digiday, “It has big sweeping implications and opens a ton of advertisers for Pinterest, looking for that degree of attribution. This shows brands in-store sales they’re unable to see without Datalogix.”
Pinterest is also attempting to rebrand itself to marketers as a search and discover platform instead of a social media outpost to overcome the perception it is merely a scrapbooking tool and to attempt to grab some of the search ad budgets being spent. Search still gets the largest portion of digital ad budgets accounting for over 45% of all U.S. digital ad spending in 2014, according to eMarketer.
