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All efforts in business are ultimately to retain existing customers and attract new ones. This is exactly what is at the heart of Pinterest‘s new targeting updates. Announced today, the social network has introduced new ways for brands to reach potential customers that are ready to make a purchase.
The new system will allow businesses to target consumers based on engagements with brands on Pinterest. The update further expands how businesses can target people who visit their website.
Brands can also retarget users. For instance, if a user interacts with the brand’s pin about snack ideas, businesses can retarget that user with an ad at a later date about birthday party treats.
“We know that this type of targeting is impactful because Pinners don’t just browse, they actually spend. About 87% have made a purchase after finding a product they liked on the platform,” the company explains in a blog post.
“When someone engages with a Pin, they are demonstrating an intent to spend in the future, and they are 2.2x more likely to make a purchase in the next 30 days than those who don’t engage.”
Brands can now target, and retarget users with specific ads on Pinterest based on a number of factors
Brands can target users by using Pinterest tags which in turn recognizes a number of events — from users’ adding items to carts, to signing up to the site. This will allow brands use Pinterest tag on their website and there after will be able to retarget the website visitors, potential buyers, on Pinterest.
Using this method, according to the company, brands can find users who have purchased “running shoes from your site and offer them new exercise gear.”
“Unlike other platforms, Pinterest is where people come to create wishlists, plan vacations and find favourite new recipes. Actions like these express someone’s intent to try, or do and ultimately buy something, and some of the most useful information on Pinterest comes from engagements like these,” Pinterest notes.
These new updates are available today in the service’s Ads Manager and will be rolling out to all Marketing Developer Partners soon.