Pinterest is taking its advertising offers to the next level. On Wednesday, the company said it was rolling out search advertising. Apparently, brands such as Home Depot, Garnier and eBay had already been testing the new format.
Search Ads will enable advertisers and retailers to run their ads as pin-style keywords. These ads are a little similar to product listing ads on Google. Pinterest assured that the final version of its search ads also included new targeting and measurement options.
Search advertising is big business, having increased to $16.3bn over the first half of 2016. The majority of that revenue went to Google.
The format addition follows recent roll-outs of video and social eCommerce ads.
Pinterest says it now has two billion queries each month and given its label as a platform to inspire product purchases, retailers could be seeing an increase in sales by advertising to Pinners.
According to research from Pinterest, its users tend to research products three months ahead of making a larger purchase. 97% of queries did not mention specific brands. Indeed, consumers aren’t sure what they are looking for when they search Pinterest. And that’s exactly why search ads may prove fruitful. Consumers who are out to discover new things may also be open to adverts.
When creating a campaign on Pinterest, Jessica Schank, Consumer Engagement Manager at Barilla cautions:
“It’s a visual platform, so creative is very important. We also learned that on Pinterest, search queries are pretty broad.”
Overall, Barilla noted an increase in actions of 50% compared to Google.
For now, the new search ads are available to select advertisers only. If the strategy pays off, Pinterest could align to become more of a marketplace in the future.