Pinterest Ads: From Setup to Success
- Why Businesses Should Be on Pinterest
- How to Use Pinterest for Business
- Pinterest Ad Campaigns Overview
- Pinterest Ad Types
- Tips for Pinterest Ads Success
- Pinterest for B2B
- How to Use Pinterest Analytics
- Pinterest Ads Q&A
- Pinterest Ads for Service Industries
- Getting a B2B Audience Breakdown with Pinterest Ads
- What to Do when Pinterest Engagement Falls
- Expected CTR with Pinterest Ads
Magdalena: Hello, everyone, I guess we're already live. So we're super happy that our webinar dedicated to Pinterest Ads is live. I'm super happy to welcome Akvile DeFazio Fazio who will be sharing all the information about Pinterest Ads with you. Hello, Akvile.
Akvile DeFazio: Hi, Magdalena. Good to be here. Thanks for having me.
Magdalena: Making the connections between consumers and brands is what Akvile DeFazio, president of AKvertise, a social media advertising agency, knows best. She's passionate about helping businesses expand their online visibility and reach their goals via Facebook, Instagram, Twitter, LinkedIn, and Pinterest Ads, which is our topic here. So, excited about our webinar today?
Akvile DeFazio: Very much so.
Magdalena: Super happy. Before we start our presentation, I would like to ask one question from my end. Is Pinterest a place for all B2B niches, in your opinion?
Akvile DeFazio: It's a challenging place, but certainly welcoming. There's a lot of opportunities for B2B businesses to be on Pinterest. It's still heavily underutilized and it's worth testing out to find out if it's right for you.
Magdalena: If you're thinking about Pinterest for business, what is the biggest feature from Pinterest to business?
Akvile DeFazio: Oh, there's quite a bit and a lot of new launches this week, which we will cover in the webinar.
Magdalena: Okay. Let's go to your presentation and the stage is yours.
Akvile DeFazio: Thank you very much. So we're talking about Pinterest Ads. First, we'll talk about getting started, user demographics, why use Pinterest, to begin with, then we'll move on to business account set up. Then we'll discuss tag implementation or the tracking code that goes on to your website.
Then we'll move down to campaigns and the different options and opportunities that you have for your different goals. And then we'll discuss audience targeting and the features there. And newly launched this week shopping campaigns, so we'll briefly cover those. Then we'll shift over to ads and the various types and then we'll talk about video ads and some best practices.
Next step, we will talk about strategies for success. And then is it a place for B2B? Well, stay tuned and find out. And lastly, how do we measure success? We'll cover some analytics of where you can find the data to make the necessary decisions moving forward to optimize and to provide reporting for your managers or your executives. All right, let's move on to getting started.
Why Businesses Should Be on Pinterest
So who uses Pinterest? Currently, there are over 250 million users worldwide and 77% of those users discover new brands, products, services, all from business content, which is huge. And 93% of those users use the platform to make or plan purchases.
So your job as an advertiser... most of the heavy lifting is done for you already because these people are looking to add something to their lives to find something discovered and open up their wallets to make that purchase.
And 98% of users have tried something new that they found on Pinterest. So it's an excellent discovery tool, whereas some other platforms may not be as heavily focused on this type of stuff. But this is a place where people go to be inspired to find something help them at work, at home, or other aspects or events of their life.
So that audience is certainly there. And 80% of users are on mobile devices using their tablets and their smartphones. So just make sure that if you are planning to use Pinterest Ads that your website is mobile-friendly.
How to Use Pinterest for Business
If you haven't proceeded with setting up your business account, you can go to business.pinterest.com and create a new account. Or if you have a personal one that has the proper content related to your business, maybe you're a consultant of some sort. You can easily convert your existing personal profile into a business one, which you will be prompted here once you go into the settings.
For Pinterest tag implementation, this is similar to what you might find on other advertising channels from Google and Bing to maybe Facebook and Instagram, where they use the pixel or just small piece of code that you add to your website.
So you can have many benefits such as measuring campaign effectiveness, defined audiences by creating custom audiences based on people that visit certain landing pages, or your domain as a whole. And you can use that information and those audiences to optimize your campaigns.
Some additional benefits with using the tag for Pinterest is you can track multiple events. And here's a list of the current ones. You can tag people that visit your pages, categories, do searches, add to cart especially if you're an e-commerce checkout. You can watch videos for video awareness campaigns, you can do lead gen for signups.
You can also do leads for lead gen campaign in particular, or you can create any custom events that you might have for your particular business. And when you install the pixel or the tag, it's quite simple. They just walk you right through, where they generate it for you on the Pinterest side, you just append a name for it. And then you can either install the code yourself or you can send it to maybe your web developer or somebody else on your team that might have some more expertise with this type of stuff.
The Pinterest tag also works with Google Tag Manager, Tealium, Magento, Shopify, Squarespace, big commerce and some other ones. If you aren't sure how to add the Pixel, you can go to their individual websites to find implementation instructions.
Pinterest Ad Campaigns Overview
Next step, let's talk about campaigns. What are the options for you to currently use? Well, for one, you can start at top of funnel to get people into your funnel, maybe a colder audience through brand awareness. These campaigns are typically lower-end cost because there are colder audiences and you're just trying to get them in and expand your brand awareness through the platform.
You can also try website traffic campaign, or if you work with app installs, there's an excellent way to drive your install rates here. And if you have any videos that you're looking just to drive some more awareness engagement, there's also campaign for that.
Exciting news, especially if you're on the B2C side or the e-commerce, this week, Pinterest just announced their new conversion campaigns and shopping campaigns. So for conversions, you can optimize for the checkout or for leads or if you have any custom conversions, and for shopping, you can optimize for clicks or check out.
In terms of audience targeting, you can currently target by age, gender, location, language, device interests. And my favorite part about Pinterest, because it's somewhat of a social and a search hybrid channel, you can target by keyword.
So for instance, you want to target somebody that's looking for shoes or maybe something more particular like hiking shoes, you can certainly do that and target by keyword and Pinterest will also provide other related keywords that might be particular to what you're looking to advertise.
In terms of audience targeting, you can also create custom audiences. So if you've been working with Facebook and Instagram ads, you may be more familiar with this where you can create custom audiences based off of email lists or the Pinterest tags.
So for an email list, you can upload a list of perhaps your leads, newsletter, subscribers, customers, or a webinar that you've attended or have hosted. And then you can use the Pinterest tag to create some other custom audiences such as website visitors or particular landing page visitors or maybe somebody that added to the cart but didn't make a purchase.
You can also target or create custom audiences based off of engagement; so people that have pinned something on Pinterest or maybe left a comment or saved it. And lastly, my favorite, which works extremely well, the act-alike, which are also called look-alikes in some other platforms, where essentially you can create a new audience that is similar to another audience that you have.
Lastly, there is expanded targeting. So here you can expand audiences by automatically targeting relevant searches. So for instance, say that you're selling hiking shoes. If you use expanded targeting, you can also find people that are interested maybe in just the outdoors or camping, or maybe something relevant to what you're trying to sell.
And shopping ads, beyond excited that this finally popped up because Pinterest is a huge area for us to discover and potentially purchase products and services. So now with Shopping campaign, which was just launched this week, you can upload your product catalog, similar to what you're doing maybe in Google, Bing, or Facebook or Instagram.
And here are the file formats, you can do CSV, TSV, or XML. And file size you could do quite a bit, you can do up to 500 million searches, but if your file is over 500 megabytes, you can compress it and upload it that way. And just as a heads up, that it updates only every 24 hours at this time. So if you do have something that does go out of stock, just be mindful of that, that the ads still will show and it will say out of stock until you either replenish your inventory or just comes down after the next 24 hours.
So if you're noticing people clicking on something that's out of stock, you may want to just keep a closer eye on that for the time being until this updates much more frequently.
One really neat thing that Pinterest does is you can create shop the look ads. So for instance, you have a lifestyle photo of maybe somebody that's a runner, and they're wearing sneakers, some leggings, and maybe a running t-shirt, you can tag those different products in the same image and have them be able to shop.
Pinterest Ad Types
In terms of ads, as we move down a little bit through the setup process, there are promoted pins. So as you may have seen when you've been on the platform yourself, promoted pins look pretty organic to the actual platform and just regular user pins. But as you can see, there's a little 'promoted by' and then your brand. Then you can do promoted video pins.
You can also do one-tap promoted pins. If you're not too familiar with Pinterest, Pinterest kind of looks like this; you click on an ad...then there's a middle step where it opens up a larger window with more of the ad copy in details and engagement from people. But with one-tap promoted pins, it cancels out the middle step.
And that's great because it'll increase your click-through rates, get people to your site, maybe to shop and convert a lot quicker. And as a caveat, though, it does cost a little bit more because it is making it a much more seamless process for you and lowering your bounce rates, and just usually having better success from those.
In terms of other ad types, there's also promoted app pins. So if you're working with apps, it’s an excellent place for you to expand your reach through the Apple App Store and also through Google Play.
There are also carousel ads. These are really great to show off more of your products, your services, and your features. And you can run carousel ads for brand awareness, website traffic, and conversion campaigns.
And through all of these, you can create different cards, test different images, videos, titles or headlines. You can also test different ad copy descriptions and different landing pages to see what works well, what resonates with your audience, and just to kind of maximize your real estate within that ad unit.
For video ads, video is still heavily underutilized on this platform. It's only available on mobile placements, but that's totally fine given that 80% of users on Pinterest are on mobile devices.
With video ads, you're thinking between four seconds and 15 minutes. And you can get really creative here whether you're in B2B or B2C with maybe something like a tutorial or maybe a lesson or how to cook a recipe or maybe how to use your SaaS product.
Realistically, people aren't going to watch all 15 minutes unless they're really hooked because people tend to watch videos just for a brief period of time, regardless of how entertaining, interesting, useful, informative they are. But you can certainly get people to watch the video, just think of how to tell your story and to really show your brand in the first maybe 10 to 15 seconds, or maybe the first minute, depending on what you're trying to narrate.
One thing with video is that captions aren't yet available on Pinterest, but you can embed them into your video. For instance, with Facebook, according to Forbes, 85% of users watch videos without sound on their platform.
So just make sure that you're telling your story, visually, textually and acoustically so that if somebody is listening to it without sound or they might be hearing impaired, you're still getting your story across. In terms of file format, you can use MP4s or MOVs, similar to other platforms. And the max size is two gigabytes.
Tips for Pinterest Ads Success
Strategies for success. As you may have seen with like Facebook and Instagram ads, overlay text is not encouraged there. However, with Pinterest, it is highly supported and encouraged. Add your branding, add your logos, add some things like this.
Also, have a strong call-to-action. I know that as advertisers, that's kind of a very basic thing for us to know. But with Pinterest there are many opportunities to really get that person down into your funnel, get them to click through. So you can do that by adding it into your ad copy.
You may be wondering, "Well, what kind of stuff can I do on Pinterest? What's successful? What type of pins should I be doing?"
Well, if you aren't sure, but you have been on Pinterest, maybe on your personal accounts or your business or in building up your boards, see what's been performing well organically in terms of engagement rates and click-through rates and repurpose that successful content.
Perhaps it's blog posts or articles, tutorials, infographics, even podcasts. I haven't seen anybody doing podcasts promotions on Pinterest, but with so many coming out, if your business has one, certainly promote it there.
And if you're in B2B side of things, white papers and ebooks are an excellent platform for this. And for those of you listening today, if you're in the B2B space, is Pinterest a place for B2B? Excellent question and the answer is, of course, yes it is.
Pinterest for B2B
Pinterest for B2B is still heavily underutilized. There's plenty of opportunities. And according to the Content Marketing Institute, only one in four B2B brands are currently on Pinterest. With users coming here to discover new products and services to better their lives, to plan something out, whether it's an event, maybe something that they want for work or for life, a product or a service, there are many opportunities for you to get in here.
So you can stand out here, you're still getting a lot of visibility, whether you're doing it organically, or through ads, and just get ahead of the curve and start advertising and testing because you never know what will transpire on a platform such as this.
If you have a smaller budget, and you're just getting started, check out what some big brands are doing and see what's maybe working well. Check out their engagement rates, at least from your end since you don't have access to their analytics. So, see if you can get some inspiration from them and apply that to your business.
How to Use Pinterest Analytics
Next step, analytics. We've done all this stuff, but how do we know if it's working or not? Well, with Pinterest, you can go into two different areas; you can go in the top left portion of the ads manager. There's an analytics dropdown, as you can see here on the left. And there's overview; you can check your profile, the people that you're reaching and different websites' statistics.
And if you are using it, check out if you have audience insight yet. We just got it for a few accounts for our clients.
Also, if you go to this example on the right, and you can also click on ads, and...in the dropdown, there's a reporting area. So here you can find similar results or different types of reporting that you can do, but they're just two places we can gather a lot of insights and data to pull your reports and provide them for your team or just to analyze your performance.
So if you don't have Audience Insights yet, you will soon. But the current things that are available are categories, interests. So for categories, this might be something like shoes. For interests, it might be something like women's shoes or women's fashion. For age, gender, location, that's self-explanatory and for device, but they provide different little graphs. It's similar to what Audience Insights looks like currently on Facebook.
Pinterest analytics, another thing... you can check keyword reports. This is one of my favorites. So if you're running some campaigns and you're wondering what queries are people using to get to your ads, and then what some of the statistics are. So you can find the different keywords, the match type, the spend, and the cost per click.
Overall in terms of costs, if you're wondering how much does it cost to run Pinterest Ads, we've been seeing for the last year that the cost per click is usually about 15 to 30 cents per click, even with one tap pins, or max with videos, which do cost a little bit more. But this is pennies for right now. So it's an excellent time to get in, still cost-effective, and there's a lot of opportunity for a variety of brands. And that's a wrap. Do we have any questions?
Pinterest Ads Q&A
Magdalena: Chris is asking, how does Pinterest stack up against Facebook and Instagram?
Akvile DeFazio: Excellent question, but, there's a lot of variables to it. So it is still a much newer platform. It's not as robust when it comes to targeting but there are a lot of opportunities where I think Pinterest has learned from other platforms like Facebook and Instagram, and the price is still lower on Pinterest. While they may not have this many different targeting options, it's certainly a less expensive platform to test out in the meantime.
Magdalena: "Are there any specific B2B strategies tips you can share?"
Akvile DeFazio: Absolutely. So B2B, it's a welcome challenge for the platform being that it's primarily for e-commerce, but also we can look at that it provides a lot of opportunity for us.
So see ways that you can take maybe existing content and not be too salesy, but if it's not something that's like overly exciting, you can create different boards and then promote those pins. Maybe for something of how to send somebody down the right customer journey or maybe something from a past event whether it's online or offline, like a conference or a session, a webinar, or an e-book, any sort of teasers.
You can create some videos about that in terms of tutorials, maybe for your software, or maybe just a teaser of an Ebook or a webinar you have coming up and then get people to sign up through a lead gen campaign that way. So that way, you have their contact information, and you can take them down the funnel and technically own that user.
Pinterest Ads for Service Industries
Magdalena: Going to another one (question), how could service-based industries like law firms utilize Pinterest?
Akvile DeFazio: Excellent question. You can get certainly creative. There's so many different types of law that you practice and depending on your particular one, you can create content that is helpful and interesting to people.
So then that way, if they're searching, maybe “the things I should get in order before I contact a lawyer” or maybe a list of questions that you might need or procedures. Just something to get people aware of what their expectations can be, or maybe just interesting things like different cases that you can share with an anonymity that people might find interesting.
So that way when they're seeing a lot more of your content, that if they do come to that point of life where they would require your services, then you'll be top of mind and like, "Hey, you know what? They've provided useful information for me in the past before. I remember their name." So you can test stuff like that. Or if you have any statistics, maybe create something visual, like an infographic of people in San Francisco that have hired a personal injury attorney because of a biking accident or something like that.
Magdalena: Okay, that's cool. Another question, "What if I'm managing a B2B and not on Pinterest? So if I do get a Pinterest business account, do I have to have a certain number of pins-followers before placing the ads?"
Akvile DeFazio: There is no rule to how many you should have, but certainly build out enough.
There's really no rule of thumb as to how many minimum followers that you can have, but as long as you start accumulating them, maybe cross-promoting your Pinterest on other channels be like, "Hey, we're on Pinterest, follow us here, check out what we're doing."
Magdalena: So thinking about ads on Pinterest, we also should think about building a community, right?
Akvile DeFazio: Absolutely. And because often times if we see an ad, regardless of the platform, especially on social media, that if we click on an ad, but then we want to go see what their page is about, what type of content they're posting? How good is their response rate or customer service or engagement with their actual followers? Do they care?
If you come to their page and they haven't updated in weeks, you're going to be like, "Oh, do I really want to follow you? How active are you? What if I have an issue?" Like there's always questions, as a consumer, that go through our minds?
And what's the reason to follow you if you're not being active? So if you can be active, like if you're pretty strapped in your small business, maybe just try to post something once a week. So it looks like you're still frequently being a part of it. And that will certainly help your advertising efforts as well.
Getting a B2B Audience Breakdown with Pinterest Ads
Magdalena: Yeah, thinking about ads on Pinterest, it's a more complex thing to do. Sam wants to know, how can we get a breakdown of B2B audience?
Akvile DeFazio: So it's tough. Pinterest has access to search query reports on their end for volume for different keywords and interests. There's no public-facing search query report of that caliber to give you search volume, which is unfortunate.
If you are just trying to figure it out on your own, that you can go into the ad set level or the ad group and just start playing around with the different options there. If you decide to do keywords, you can plug them in and it'll start giving you recommendations.
If you're looking by maybe interests, you can start and there's a big list where it'll do little sub breakdowns of something like, say, you click on shoes, then it'll drop down and say, "Shoes, women's shoes, men shoes, hiking shoes," like all sorts of different things.
What we typically do for our clients is create an Excel spreadsheet of audiences that are related to their brand and who we can target now and later and then determine priority based on those. And unfortunately, they don't provide the volume of that. So we'll go a little blindly into it, but that's one way to get around it for now and get at least some sort of information.
Magdalena: Sure. We have another question about targeting. But this time, the question says, "Can you omit certain target audience from an ad in order to better narrow their targeting?" So not adding a specific group but omit it.
Akvile DeFazio: Yes, you can do that. It's not per ad, it's per ad groups. So within the campaign, there are ad groups, and then you create ads for each one. So you can do that at the ad group level where your selecting, your targeting can do inclusions, and then there are areas to exclude certain audiences as well.
Magdalena: That's good information. We can narrow down our target group. So does Pinterest have an app for deploying and managing ads?
Akvile DeFazio: They don't have an app, but you can go on desktop and they also have a bulk editor. So if you're dealing with like a very large set of ads you're looking to do, you can import your ads in there and manage it a lot easier than just manually doing a few here and there.
Magdalena: Okay, based on the examples you posted, is there a preferred ad dimension; vertical, square, et cetera?
Akvile DeFazio: They're all vertical to some extent, there are no horizontal ads at this point. But I would say that yes, square is nice. It's visually appealing, but just to maximize your screen size, try to do the maximum for the longer vertical one. So then that way, you not only have more real estate to add more creatives or maybe more ad copy and just use it to your advantage. Certainly, test out both because you never know what might resonate better with one person may not with another.
What to Do when Pinterest Engagement Falls
Magdalena: There's a question I bet for another webinar. But let's try with this one. "I have a quite a large account. I'm very active on Pinterest, but the engagement is dropping. What can I do to increase it again?"
Akvile DeFazio: I guess as the platform grows, we can expect that organically. Like we've seen some other social platforms where it's more difficult to get organic reach, because more brands are getting into the space, and the users, they want to see all sorts of content. Pinterest is a business, they're looking to monetize. And as a business, trying to advertise, they're going to want you to pay to play essentially.
If you're doing it organically, just keep doing the best, create content, try to get it in front of the right people through other means and cross-promote, maybe through Twitter, Facebook, Instagram, maybe your email newsletter, or on your website or your blog. Try to drive people organically to Pinterest, so you can maybe get some better engagement rates.
So test out some new things, see what some brands that are similar to yours are doing or maybe even completely the opposite. I tend to do that myself and tell clients to do that to see what other brands are doing and how you can maybe take what they're seeing success with.
Expected CTR with Pinterest Ads
Magdalena: Another question here. What is the general CTR? What should we expect when testing?
Akvile DeFazio: For click-through rate, healthy click-through rate is usually around 2%. You're fine with anything 1% upward. But if you're seeing anything that's lower, maybe like that last question, "What can we do to get the click-through rate and engagement rates up?" is test a different copy, maybe different creative a different type of person in your video or your image, maybe that looks more like your audience.
And just start playing with the different ways that you can get people to engage, maybe ask a question or maybe a more compelling call-to-action, if you're not using a call-to-action, maybe learn more or view more just to get people to get to that next step.
Magdalena: Short question, "Is there a minimum daily budget?"
Akvile DeFazio: That's actually a good question. I don't believe so. I will definitely look into that. We have some clients that are running … I think Pinterest when you're setting it up, it'll tell you the minimum budget it requires for a click. But I think we typically start at $10 for like the smaller clients that we've been testing Pinterest with. So if you have $10 a day, start with that. Maybe you can do $5, but let me get back to you on that.
Magdalena: Do you have any suggestions for real estate agents to use Pinterest ad?
Akvile DeFazio: Oh, yes. There's so much you can do with Pinterest organically or with ads, especially if you're in the real estate industry. You can create things; maybe home decor type of boards, and then promote them with your branding on it. So then that way people aren't just looking to buy a house every day, but maybe they're thinking about it in the next year, they're saving up money. So start getting in front of them with other types of content of what you need to get.
Maybe a list of things like what you need to get in order before you can apply for a home mortgage, or tips for first-time homebuyers or maybe home decorating ideas. And just be that resource center and have established authority and trust with your potential audience, as a realtor.
Make sure that your targeting is correct, because if you're not licensed in another state, or maybe you live out of the area, your chances of selling a home are much lower, probably none at all. So just make sure that your targeting matches with the area they live in.
And one great thing that I've seen some realtors do is that, in addition to selling homes and trying to get people to open houses, is create maybe a board and promote those different pins as ads about things happening in that city or that neighborhood. So then that way people that might be looking to move there from out of state or out of country or from another area, they might become more familiarized with...what they can expect there.
Magdalena: Next question, what is expected CPC for Pinterest Ads by type? Shopping ads are more expensive on Google, is that similar with Pinterest?
Akvile DeFazio: I think for right now, it will still be much less expensive than say Google, Facebook or Instagram shopping or checkout. But like for non-shopping campaigns, currently, we're seeing CPC is from like 15 cents to 30 cents. There've been a few anomalies, but primarily it's in that range. If I were to guess, I would hope that they would be under $1 a click. So test it out.
Magdalena: It looks like we have the very last question today which says, "Is there a way to better understand the total impact of a Pinterest campaign or revenue for e-commerce company in Google Analytics?
Akvile DeFazio: Okay, great question. So typically between platforms, what we've often done over the years is, we look at both the native platform and also Google Analytics. Maybe if you're working with apps, there are some great things like AppsFlyer that also provides data on that. But looking at conversion windows, we'll see what matches closest to Google Analytics since we tend to trust that more.
And usually, there's going to be a discrepancy between channels, but as long as it's not too far off, then I would just take into account what the transactions and the revenue coming in through Google Analytics is, and just use Pinterest as a backup, because sometimes they can either favor their own channel too much or maybe data is coming in late or maybe tagging was incorrect.
Magdalena: Thank you very much. As I said, it was the very last question today. So thank you very much for your presentation and for all replies.
Akvile DeFazio: Thank you. Bye, everyone.