As the holiday period approaching fast, and retailers are looking to make big sales push to end a difficult year, Pinterest has announced this week a range of new featured created to assist merchants increase sales and reach in the period, it includes new ‘storefront’ profiles and new ad format for shopping.
Here is what has been declared:
Firstly, Pinterest is planning to replicate better the experience of shopping in the store with updating Shop tab on business accounts, it puts more affirmation on presentation for browsing.
As explained by Pinterest:
“[The] updated profile enables merchants to transform their shop tab into a storefront with featured in-stock products organized by category, featured product groups, and dynamically-created recommendations.”
The change basically provides companies more means to display their products on the tab, and it may help motivate more shopping behavior.
Additionally, currently, when Pinners look for ideas related to shopping, they will also be presented a list of suggested merchants in their search results.
That is another means to assist increase visibility for companies, that may see more and significant traffic pushed in your direction, if your products are matching the search query.
Pinterest is also testing a new option for tagging products that would provide merchants the accessibility for tagging their own images with specific products.
So, to be obvious, businesses could add their products in collections pins for a period of time, yet this new option will grant companies more options for tagging products, giving more promotional chances within the Pin efforts.
Additionally, Pinterest is looking also to develop its process’ catalog, it makes it simpler for people and brands to connect their products direct to their Pins.
The connection of streamline procedures will make it a lot easier for more brands to link their information listings, to improve the shopping experience on the platform. In July, as part of its update, Pinterest announced that catalog ingestion had developed x10 in the first six months of 2020. This new development will see that maximize even more, including more pins able to shopping to Pinterest.
Also, Pinterest is looking to develop its paid ads with new ad format.
“Some products just belong together. That’s why we’re bringing together Catalogs and collections to make collections a shopping ad format. As part of this update, brands can now also select a main asset and a corresponding product group to create an inspiring, multi-image ad unit. Additionally, we’re launching the option to use video as a hero in a Collections ad unit to further tell a brand story. “
The video promotional unit might be specifically efficient, video views on Pinterest have maximized more than triple in 2020, while former research has shown that Pinners are more than double likely to buy after seeing a brand video on the platform.
Adding a major video with identical image Pins may be a great way to increase your Pin promotions, and maximize interest in the products.
Pinterest is also planning to make it simpler for marketers to increase their campaigns with an updated automated outbidding for sales that will plan to be in line with your bids with your defined ad goals.
Auto bidding is currently available on many platforms looks to utilize data and insights to be in line with your campaigns with the right target audience based on their history, habits, activity, and so on.
The new process of Pinterest is particularly in line of increasing sales. So, it will plan to showcase your ads to users who have buying history, or show signals of being prepared to buy.
“On average, advertisers who tested Automatic Bidding for Catalog Sales saw 28% more conversions when optimizing for the ‘Conversion’ event and nearly 29% more clicks when optimizing for ‘Click’ event for the same budget.”
And at the end, Pinterest is including some new visualization tools ‘Conversion Analysis’ which will make it easier to know how your Pins are going for different goals.
As explained by Pinterest:
“With new updates, retailers can see how customers are completing their path to purchase – all summarized in a familiar funnel – in the visualizations tool. Follow customers’ purchase journey and compare multiple attribution views to prove impact.”
The new lists will give a more obvious image of your performance on Pinterest, making you able to build more obvious expectations about the next results.
Also, there are some great tools here, and a pile of new options to know your Pinterest approach. And if you are a seller, Pinterest will be on your radar engagement, indeed. With shoppable Product Pins that have maximized by 44% in 2020, while the Pinners’ numbers engaging surfaces of the shopping all over the application have increased by 85% in the past half of a year.
Pinterest with 416 million active users every month, Pinterest’s reach is expanding as well. It is worth consideration, and these tools may enhance the offering more.