Pinterest isn’t a social network—it’s a search engine, and its latest update to its advertising platform is only furthering the transition. Now, marketers can choose from 5,000 different interest categories when promoting their pins.
Pinterest only offered 400 targeting options last year, but with their acquisition of ad-tech firm URX, they’ve greatly expanded their Taste Graph recommendation platform to improve both user and advertiser experience. Ranging from broad strokes like “french food” and “vintage style,” to more esoteric categories like “mid-century modern” and “neutral nursery,” to catch-alls such as “plants,” the ideation platform boasts 50 percent higher click-through rates and 20 percent more cost-effective campaigns, citing Nordstrom as a case example.
This latest feature comes as the brand attempts to close the gap between social network and search engine. “People don’t come to see what their friends are doing,” Pinterest CEO Ben Silbermann said last year. “Instead, they come to Pinterest to find ideas to try, figure out which ones they love, and learn a little bit about themselves in the process.”
Earlier in September, the company announced it had reached 200 million monthly users, unveiling six new methods for campaign effectiveness measurement in June. The digital ad market is growing, and Pinterest is beginning to offer advertisers tools competitive with giants of the market Google and Amazon’s keyword advertising offerings.
Brands like InnoGames have used Pinterest to great success in recent months, and from demographic data alone the platform is attractive for brands seeking millennial audiences. This latest update serves to further shore up the company’s $500 million revenue prediction for 2017.
