Pinterest has announced the launch a new type of video advertising called Promoted Video Ads. The new ads are designed as another way to help brands drive more sales on Pinterest.
Here are five things marketers need to know about Pinterest’s Promoted Videos.
1. What Are Promoted Videos
Promoted Videos are a new ad type that Pinterest users will see in their feed. For now Promoted Videos are only available on mobile, but a desktop version is expected at some point in the future.
Promoted Videos will first appear as a Cinematic Pin, which is similar to a GIF. Advertisers can choose which images appear in it. Clicking on that Pin leads users to a new page with Pinterest’s new native video player.
The Promoted Videos play with sound on by default. Users can tap to watch the video ad in full screen.
Six featured pins appear underneath the Promoted Video. Pinterest is hoping that Promoted Videos will inspire users to take action (i.e., buy from the brand after watching their video).
2. How Much Do Promoted Videos Cost?
You can buy Promoted Videos on a CPM basis ($15 to $20 per thousand impressions). A $500,000 minimum investment is required, Ad Age reported.
You pay anytime a Pinterest user sees your Cinematic Pin for the Promoted Video, even if that user never views your video.
Here are the metrics Pinterest will share with advertisers about their Promoted Video:
- Video views (and how many watched 25, 50, 75, and 100 percent of the video).
- Clicks generated.
3. 12 Brands Tested Promoted Videos
Pinterest said 12 brands tested Promoted Videos in industries ranging from food to beauty to entertainment. Although Pinterest didn’t name every brand, they did reveal eight of them:
- Behr Paint
- General Mills’ Old El Paso
- kate spade new york
- Universal Pictures
4. Pinterest: Videos Are 4x More Memorable
Pinterest didn’t provide much detail about early Promoted Video success stories, but cited a study they conducted with Millward Brown.
“General Mills’ Old El Paso saw significant brand lift metrics and that Promoted Video ads were 4x more memorable than a non-video ad,” according to Pinterest.
5. How to Buy Promoted Videos
Promoted Videos are open to any U.S. or UK business that works with a Pinterest account team. Or you can sign up here.
Author: Danny Goodwin