Pinterest has finally officially rolled out its Promoted App Pins advertising product. The company had been testing the app-install ads since July 2016 with various brands.
Promoted App Pins is now available via the company’s Ads Manager and its API.
The company has managed to rapidly triple revenues from $100m in 2015 to $300m in 2016. The latest ad product addition should offer a serious boost to profits and ultimately support an IPO this year or in 2018.
Mike Bidgoli, head of new ad products at Pinterest, says:
“More than 80% of our users are on mobile. So it’s a very mobile-first product, and hence, it lends itself well to app installs.”
Pinterest also has a few measurement partnerships in place with companies such as AppsFlyer, Tune, Adjust, Kochava and Apsalar. That means advertisers can get their install reports more easily now.
Bidolgi adds that Promoted App Pins have helped 70% of advertisers to achieve their campaign goals.
“One cool thing is that it not only worked for the core categories like food, style, beauty. But it also worked for personal finance, automotive and gaming.”
App brands including cash-back app Ibotta said the tool had resulted in the company doubling its Pinterest ad spend, whilst investment mobile app Stash boosted downloads and engaged users.
Annica Lin, acquisition manager for Stash said:
“Pinterest delivers the highest percentage of loyal users across all iOS acquisition partners.”
Pinterest has been steadily expanding its mobile advertising portfolio over the last few years. It launched various advertising units last October as well as specific keywords to better target search campaigns.
Pinterest offers a serious advantage to brands and retailers: consumers are actively searching for products on the site and that allows marketers to feed into moments and reach audiences when they are more likely to want to make a purchase.