Pinterest Retargeting Tools Update
With the rapid expansion of social media platforms, businesses in e-commerce are continually being met with an ever-growing list of marketing and advertising strategies to utilize. New Pinterest retargeting methods are looking to offer the same.
The overall goal of driving sales conversions means businesses are constantly mulling over the opportunities and advantages each social media channel can provide.
Facebook is currently leading in sales conversions produced by social media services, with Twitter and Instagram ranking behind.
However, through the implementation of new tools being developed in its advertising offerings, updates to Pinterest retargeting methods are placing the site in a better position to stand as a prominent sales channel among social networks.
In a recent press release, the company announced ad targeting options with the goal of improving its commercial appeal to e-commerce businesses.
While the platform currently offers Promoted Pins based on a Pinner’s interest, keyword search, device, and location, it is now offering more targeting capabilities by permitting the use of a company’s own internal business data.
The addition of these features will allow retailers to combine what they know about their customers with the data Pinterest has on its user base.
The company is currently working with Epsilon and LiveRamp to assist in making the transition of onboarding your company’s data a seamless process and will have the addition of the new Pinterest retargeting components implemented, in full, by the end of the month.
3 New Pinterest Retargeting Features
The addition of new Pinterest retargeting tools are providing businesses on the site with three new features to take advantage of.
- Customer List Targeting – The customer list targeting tool allows businesses to reach existing customers using email or mobile ad IDs. These companies will also be able to take existing customer lists they may already have in place, and compare that information to new potential users on Pinterest.
- Visitor Retargeting – With the visitor retargeting tool, businesses will be able place Pinterest conversion tags on their sites. These tags will allow businesses to follow their users onto Pinterest, track their behaviors and movements, and ultimately provide them with the data needed to place more relevant advertising content in front of interested audiences. The addition of this new tool is important, as it will allow businesses to focus their ad spend on individuals that are already familiar with their brand and products.
- Look-A-Like Targeting – The look-a-like targeting tool will allow you to reach a larger group of people who look and act similar to your current audiences. Essentially, businesses and marketers will be able to take data from their own resources, as well as from Pinterest, and use that information to construct consumer groups comparable to existing and former customers.
The inclusion of these Pinterest retargeting tools are far from being new or groundbreaking advancements in the realm of digital shopping. Similar methods have long been utilized by a number of other platforms – such as Facebook, and Instagram following suit.
Despite being late to the party, the additions to Pinterest’s retargeting options will definitely aid in making the site a more appealing marketing tool for businesses to capitalize on.
What We Think of the Pinterest Retargeting Updates
Stephen Kerner, a Retail Search Manager here at CPC Strategy, was able to provide his input on what this will do for marketers on the Pinterest platform.
“The retargeting aspect, it’s hopefully going to make it all a little more direct focused. Before, we were having troubles getting any type of performance from Pinterest; just because their targeting was so broad and outside of keywords, options were fairly limited. So the new updates to Pinterest retargeting should help in leading to an increase in sales from the site.”
While the addition of look-a-like audiences is a component that many advertising strategies would welcome, it’s hard to know exactly how focused those audiences can be until the tool finally rolls out.
But through the use of similar platforms, we can gauge what its capabilities might entail.
“I imagine you would be able to create a look-a-like audience similar to that of Facebook’s. Where you can take people who have hit the purchase page or have actually made the purchase, and Pinterest can take that information and create another, similar audience based on their user-base.”
“Certain things will probably be specific to the site, where you’d be able to layer in targeting options Pinterest has, but I imagine it will be very similar to Facebook’s.”
The updates to the Pinterest retargeting tools are expected to have positive impacts for businesses using the platform – and the announcement of these components should be a welcoming sight for marketers looking to increase their presence on social media channels.
“These additions should provide more of a revenue stream from an internal perspective – but also from an advertising perspective, it gives me more confidence in who I’m targeting with my ads.”
“It also allows Pinterest to serve more relevant ads to their user base, whereas before, it was very broad. Now, with the new features being rolled out, you can focus your ads and really make your campaigns more targeted.”
While gauging how well each of these tools will perform will have to wait until they are officially made available to businesses site-wide, the announcement of the new Pinterest retargeting tools is certainly something to keep an eye on in the coming weeks.