Pinterest brings its advertising A game

Pinterest, the visual social network, plans to significantly further how it monetises its site by improving how advertisers use it. The site, which sells itself as a “Discover-based” social media platform, will serve up more user data to advertisers by categorising interests and helping advertisers in kind to boost targeted ads. Pinterest is, in theory, the perfect network for advertisers, as it has become the go-to place for many users when it comes to product discovery. The site, which was founded by Ben Silbermann, Evan Sharp and Paul Sciarra only 5 years ago, has had an incredibly profitable 12 months, with projections last year earmarking that it could even overtake Facebook in terms of revenue per visit.

Pinterest plans to significantly further how it monetises its site by improving how advertisers use it

A spokesperson from Pinterest said that they “Currently allow advertisers to target people who have expressed interest in topic by searching or visiting a category feed.” This year, however, they will be “Offering additional targeting options to advertisers.” For an example, they said that “In the future, an advertiser could target 'outdoor enthusiasts' which is a group of users based on their interest on outdoor activities.” They were keen to stress, however that Pinterest will “Not share individual user data with advertisers.” Well that's a relief!

The site will serve up more user data to advertisers by categorising interests

According to Don Faul, Pinterest's head of operations, the focus for the company in 2015 is on “Unlocking the potential of intent data,” with the firm delivering ads based on items users “Pin.” He adds that “Pinterest is not a traditional user-generated content platform,” but a “Place where people are coming to discover new businesses, new brands and new products.” He also took a swipe at rival social networks, that base their advertisements not on products users might buy, but already own. He said that their users are “Expressing their future intent,” in so much as “It’s not the shoes they bought last week, or where they went on vacation six months ago,” but the shoes that want to buy next week and where they want to go on vacation in six months time. This approach obviously makes more sense from a marketers perspective, and the net is set to get even narrower now Pinterest are using the hobbies and categorical viewing patterns of users to gauge marketing data for their advertisers.

Pinterest is the perfect network for advertisers, as it has become the go-to place for many users when it comes to product discovery

Nate Elliot from the technology and market research firm Forrester Research, believes that “Pinterest’s marketing value lies more in the future than in the present,” and that “By 2016, Pinterest’s ad offering could trump that of other social sites.” He does concede, however that “Today, most brands struggle to successfully use it as a marketing tool.” He says that Forrester are “Encouraging marketers to put limited resources into Pinterest right now,” but that it'll be time to start spending “Once the site broadens its targeting capabilities.”