Pinterest, an underestimated advertising tool
In an advertising landscape where the majority of advertisers invest massively in social media on Facebook and Instagram, Pinterest is often overlooked, despite its obvious potential for customer acquisition. And yet, with over 465 million monthly active users worldwide, Pinterest ranks 15th among global social networks and 7th in Switzerland (according to Similarweb).
Source : Similarweb – Top 10 social platforms, Jul-Sept 2024
Despite these impressive figures, it is rarely strategically integrated into advertisers' media plans.
This under-utilization of Pinterest is often due to a lack of knowledge about the opportunities it offers.
Source : Hootsuite.com
While platforms like Facebook and Instagram face high competition and high acquisition costs, Pinterest offers a less saturated advertising environment, enabling advertisers to reach an engaged audience at more competitive costs.
An audience ready to shop on Pinterest
On Pinterest, scrolling speed is 3 times slower than on Meta platforms. This means that the quality of user attention is higher than on Facebook or Instagram , where doomscrolling is more prevalent.
Shopping is the main reason why users go to Pinterest. With higher revenues than other platforms, users convert with 30% higher shopping baskets values compared to Meta platforms. At Mediamix, we can only confirm this observation through the social media campaigns we've been able to run for our customers.
Significantly, 97% of top searches on Pinterest are not associated with a specific brand, paving the way for brands to position themselves naturally in the discovery process. In fact, engagement with e-commerce content on Pinterest is increasing by 50% every year, and this trend continues to accelerate.
A few key figures
1 in 3 users on Pinterest have an annual income of over $100,000, making this audience a particularly attractive target for premium brands.
Pinterest still caters primarily to women, who make up over 76% of its global user base, while men account for 17.2% and the remaining 6.6% are unspecified.
Pinterest users spend on average 40% more than shoppers on other platforms, with shopping baskets 30% higher at checkout than on Meta platforms.
50 % of users say Pinterest has inspired them to make purchases they hadn't initially planned.
80% of weekly users say they have discovered a new product or brand via Pinterest, reinforcing its role as a discovery engine for advertisers.
The majority of its audience is between 25 and 34 years old. Next comes the 18-24 age group, followed by the 35-44 age group.
1 in 3 users on Pinterest have an annual income of over $100,000, making this audience a particularly attractive target for premium brands.
Pinterest still caters primarily to women, who make up over 76% of its global user base, while men account for 17.2% and the remaining 6.6% are unspecified.
Pinterest users spend on average 40% more than shoppers on other platforms, with shopping baskets 30% higher at checkout than on Meta platforms.
50 % of users say Pinterest has inspired them to make purchases they hadn't initially planned.
80% of weekly users say they have discovered a new product or brand via Pinterest, reinforcing its role as a discovery engine for advertisers.
The majority of its audience is between 25 and 34 years old. Next comes the 18-24 age group, followed by the 35-44 age group.
A network less saturated than Facebook and Instagram
Rising acquisition costs for digital campaigns are a reality. Brands are fighting for advertising placements on platforms such as Facebook, Instagram and Google. Although these networks are highly effective, the level of competition is extremely high, driving up bidding prices.
Pinterest, on the other hand, offers a much less saturated terrain. This means that advertisers can benefit from lower advertising costs, with a higher quality of user attention.
Our feedback on Pinterest with Mediamix
At Mediamix, we regularly run advertising campaigns on Pinterest in Switzerland and internationally (Europe and USA) on behalf of our customers. This gives us the opportunity to make comparisons with Meta campaigns, based on identical objectives, markets and products. Here's what we've observed over the past 24 months :
- Lower CPM: Due to less competition, the CPM on Pinterest is 20-50% lower than on Facebook and Instagram.
- Quality of click-through rates (CTR): for identical campaign objectives, CTRs on Pinterest are roughly equivalent to those obtained on Meta.
- Return on Investment (or ROAS): According to Pinterest, advertisers get a ROAS 2 times higher than on other social platforms. Our observation is that we get ROAS 30 to 50% higher than on Meta.
- Setup and resources: if you're already active on Meta, it's quite easy to switch to Pinterest. You'll find the same tracking functionalities (pixel or server-side), you can also implement your product catalog. The campaign objectives and setup methodology are relatively similar....although there are some particularities to Pinterest.
- Search engine: this is the feature that makes all the difference. Pinterest is first and foremost the ability to respond to queries, making it a platform halfway between SEA and Meta. By using search keywords, you're sure to benefit from the full power of Pinterest!
Pinterest 's main advantage also lies in its ability to extend the life cycle of advertisements. Unlike networks where content is ephemeral, “pins” on Pinterest have a much longer lifespan. A well-optimized pin can generate views, engagement and conversions long after it's published, enabling brands to maximize their advertising investments.
Why diversify your media mix with Pinterest?
- Reduce dependence on social giants: Focusing on Facebook and Instagram only exposes advertisers to rising costs and dependence on unpredictable algorithms. Pinterest makes it possible to diversify the media portfolio while reducing risk.
- Reach a qualitative audience: as we've seen, the content consumption patterns of Pinterest users are quite different from those of other platforms. Add to this the overall higher purchasing power of this target, and you increase the chances of successful conversion campaigns.
- Create lasting content: unlike posts on Instagram or Facebook, which have a limited lifespan, pins on Pinterest can generate engagement over a longer period of time
Conclusion
Advertising on Pinterest represents a valuable opportunity for brands, particularly those in the e-commerce and luxury sectors. By offering an audience with high purchasing power, expressed purchase intent, and a less competitive advertising environment, Pinterest stands out as a strategic platform.
If you're looking to optimize your media mix in 2024, it may be time to give Pinterest the place it deserves in your strategy. Don't overlook this still largely under-exploited network and take advantage of the opportunity to reach a more receptive audience, ready to be inspired and take action.
Sources : Hootsuite, Pinterest, Pinterest Business, Pinterest Press Release, Pinterest Shopping Feature,
