Retail

Pinterest Unveils Promoted Video Tool

Advancing its advertising efforts, Pinterest said that it plans to offer a promoted video tool, which allows marketers to gain more real estate than the platform’s typical grid-style layout, TechCrunch reported.

By taking up the entire screen, Pinterest is able to help better capture the attention of users. In addition, Pinterest offers advertisers a unique audience — one that comes to its platform to discover new things: The site says that 42 million U.S. users visit in search of entertainment ideas. As a result, the website could be an opportunity for advertisers to promote a product that requires awareness marketing, such as a movie.

Beyond the video tool, Pinterest also said it hired Mike Chuthakieo for the role of industry sales lead and Tina Pukonen for the role of entertainment strategist. Earlier this year, Pinterest also hired Françoise Brougher as its first COO.

The news comes as Pinterest is expanding its Shopping Ads tool to reach hundreds of marketers and advertisers. According to Ad Age, the tool, which places advertisements in customers’ Pinterest search feeds, was tested last year with a handful of retailers.

“It goes back to the core mission of helping people find and discover new products that they would love to buy,” said Jon Alferness, senior VP of ads and commerce at Pinterest.

Shopping Ads allows brands to upload their product catalogs, as well as showcase select products, so consumers can simply click through and purchase items directly on the retailer’s site.

“The goal is to align with the visual nature of the platform — that’s what makes Pinterest stand out, that discovery mindset,” Alferness said. “With products on a white platform, there’s no inspiration, you’ve got to bring it to life.”

Pinterest’s tool seems to be in line with Google’s “product listing ads,” which research shows made up 80 percent of all retail search spending among U.S. and U.K. advertisers in the first quarter of 2018.

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