Dive Brief:
- Pinterest is offering a New Year's start for partners by releasing Promoted Pins to all partners.
- The decision to open up Promoted Pins comes after a successful beta run where advertisers saw an average repin rate of 11 times—the same as organic pins—and 30% more earned media than purchased.
- For now, Promoted Pins will launch reservation-based ads on Jan 1 and will release auction-based ads later on.
Dive Insight:
Marketers have been excited about advertising on Pinterest since the social platform took off. To see Promoted Pins preform just as well as organic pins is a testament to how successful the marketing has been. The niche nature of Pinterest is perhaps the reason marketers have been so successful in leveraging Promoted Pins, as it's easier to guess what certain users will like.
In the new year Pinterest will also be rolling out a program called the 'Pinstitute,' meant to help advertisers leverage the power of the social site through workshops and webinars.
