On April 11, Pinterest launched two new conversion tools for advertisers, which offers conversion optimization for Promoted Pin campaigns and a new conversion goals feature for Promoted Videos. These new tools are available to any brand with a Pinterest business account.
Promoted Pin campaigns were previously optimized for just clicks, but now, advertisers are able to optimize Pinterest campaign for specific actions to drive online checkouts, more signups or better leads.
“Advertisers who care solely about performance have been able to achieve their business goals using manual inputs,” Pinterest wrote on its news blog, “But the new conversions objective allows them to hit their goals quickly and easily without additional effort.”
According to John Sheldon, SmileDirectClub’s CMO, the conversation optimization tool is one of the most successful tool the company has done.
“Pinterest is a very successful introducer for us. Using a combination of our multi-touch attribution and our media mix modeling, we have been able to prove that it is actually one of the most efficient spends that we have in terms of bringing people to the brand that are incremental and that we would not have had otherwise,” said Sheldon.
Pinterest has gradually been gearing up its ad platform and e-commerce efforts for the past months as it nears its IPO. Both of these conversion features illustrate the company’s push to build out its ad offerings and give advertisers more bells and whistles for campaigns on the platform.
“The great thing about the conversion optimization tool is that it would only spend when we were hitting our marketing goals and objectives. This eliminates a lot of the manual work typically involved in campaign optimization,” said Brody Mazurek, digital marketing lead for the temporary-tattoo brand Inkbox.