- Pinterest has partnered with Millward Brown Digital in a deal that will provide the digital scrapbooking site measurement with metrics such as awareness, favorability and purchase intent.
- The metrics should help advertisers better understand if Promoted Pins shift consumer perceptions or increase consumer awareness of brands.
- "Pinterest is making a major investment in brand measurement, indicating a commitment to providing advertisers with critical knowledge of their campaign's impact," Stephen DiMarco, president of Millward Brown Digital, said in a statement.
Pinterest has been making moves to better monetize its product as well as improve its advertising offerings, and recently began selling ads in the U.K. The image-saving site is aware that advertisers are increasingly looking for third-party measurement metrics on social platforms and apps.
Though advertising on social media isn’t always about driving a final conversion-to-sale as much as it is about brand and product awareness, marketers will benefit third-party measurements on their Pinterest campaigns. Prior to the partnership, Pinterest only provided metrics such as impressions, clicks and repins of images.
“We are thrilled with the impact Promoted Pins has had for some of our largest partners,” Jon Kaplan, global head of sales for Pinterest, said in a statement.
Millward Brown reported that some are seeing double-digit increases in brand metrics. For example, Walgreens realized a more than 15% lift in positive brand perception, brand favorability, and purchase intent for a key beauty category among a targeted audience of females age 18-24. Meanwhile, L’Oréal saw an 18% lift in new product awareness for their Lumi Highlighter product, a 27% lift in message association and a 25% increase in purchase intent.
"Since Pinners are already in a consideration mindset, more and more brands across verticals from Retail and CPG to Automotive, Financial Services and Travel, rely on Pinterest to engage with consumers and drive metrics like brand favorability and purchase intent," Kaplan said. "By partnering with industry leader Millward Brown Digital, we can now provide comprehensive and actionable audience level insights for these strategic campaigns."