Social media platforms are part of our daily lives and popular with all age groups, but yet many have struggled to monetize their product. Pinterest is no different. I love the images that are shared there, but like many others, I don’t want to pay to see them.
As a business owner, though, it makes sense to promote yourself on social media. There are so many daily viewers and regular users of some of the well known platforms, and their ranking is displayed in the graph below. As you can see, Pinterest is toward the lower end of active users, but with their new promoted videos, this statistic could change.
To keep up with the times, businesses are figuring out ways to take advantage of all the eyeballs and bring more traffic. Pinterest is reportedly worth $3.8 billion but has no revenue, so they are working on a strategy to help advertisers improve brand awareness and share their pins with a bigger audience by using promoted videos.
This post from Search Engine Journal by writer Danny Goodwin provides more insight into how Pinterest promoted videos will work.
5 Things to Know About Pinterest Promoted Videos – Search Engine Journal
Pinterest has announced the launch a new type of video advertising called Promoted Video Ads. The new ads are designed as another way to help brands drive more sales on Pinterest.
Here are five things marketers need to know about Pinterest’s Promoted Videos.
1. What Are Promoted Videos
Promoted Videos are a new ad type that Pinterest users will see in their feed. For now Promoted Videos are only available on mobile, but a desktop version is expected at some point in the future.
Promoted Videos will first appear as a Cinematic Pin, which is similar to a GIF. Advertisers can choose which images appear in it. Clicking on that Pin leads users to a new page with Pinterest’s new native video player.
The Promoted Videos play with sound on by default. Users can tap to watch the video ad in full screen.
Six featured pins appear underneath the Promoted Video. Pinterest is hoping that Promoted Videos will inspire users to take action (i.e., buy from the brand after watching their video).
2. How Much Do Promoted Videos Cost?
You can buy Promoted Videos on a CPM basis ($15 to $20 per thousand impressions). A $500,000 minimum investment is required, Ad Age reported.
You pay anytime a Pinterest user sees your Cinematic Pin for the Promoted Video, even if that user never views your video.
Here are the metrics Pinterest will share with advertisers about their Promoted Video:
- Video views (and how many watched 25, 50, 75, and 100 percent of the video).
- Clicks generated.
Read the rest of this article here: 5 Things to Know About Pinterest Promoted Videos – Search Engine Journal
In an article from Social Media Examiner, there is a sample of what a promoted video on Pinterest will look like.
Read the full article here: http://ift.tt/2buLNZE
Pinterest was started in 2009, so it’s not a new startup. Facebook had a five year jump on Pinterest, as it was created in 2004, and it took Facebook until 2009 to become profitable. It will be interesting to see if Pinterest newest strategy helps them to begin monetizing their company.