Pinterest hopes new features will help it fetch fresh ad dollars
- Digiday has obtained a pitch deck that sheds deep insight into how Pinterest is selling the platform to potential advertisers.
- One key point Pinterest is making when pitching for advertiser dollars is that it actually fits somewhere between social media and search. The photo-curating site is making the claim that Facebook users aren’t on the social network to shop, whereas 75% of Pinterest user content includes a brand mention.
- Whether the pitch will be enough incentive is unclear, especially as research is finding social media isn’t driving many last-click sales conversions.
According to Adweek, research from Custora, an e-commerce vendor, found only 1.5% of last-click e-commerce transactions came through social media.
In terms of driving sales within that 1.5%, Facebook is far and away the leading platform at 81%, with Pinterest lagging far behind in second at 10.8%. Of course marketing and advertising on social media isn’t always about driving a final conversion-to-sale as much as it is about brand and product awareness.
In fact, Michael Scheiner, vp of marketing and communications at Abercrombie & Fitch, told Adweek the apparel brand is focused more on the user's experience of the brand on social than conversions.
"We're not as concerned about 'Did they see a piece of content and immediately go to the website?' as we are about 'Did they have a good experience with the brand? Was it interesting to them?'" he said. "Of course, there is an aspect of clicking to the site, but it's a smaller percent than other platforms."
In seeking new advertisers, Pinterest is touting some features such as a new targeting capability, measurement via partnerships with third-party tech firms, and exclusive services for major advertisers such as digital couponing.
The question on investors' minds is whether the digital scrapbooking platform can turn its growing audience into revenue. After a period of rapid growth over the past year, as well as heightened competition in the social media landscape, Pinterest still has work to do in changing how advertisers see the platform.