- Pinterest, Inc (NYSE:PINS) began internal testing a new advertising product that allows brands to tap affluent consumers.
- With the “Premiere Spotlight” ad, advertisers will access premium placement for 24 hours on the Pinterest app’s search page, TechCrunch reports.
- The product allows advertisers to reach Pinterest users as they use one of the app’s essential features, like the ability to search for pins, inspiration, and ideas.
- Also Read: Pinterest Bows Down To Macro Uncertainties; Lets Go Of 150 Workers
- The new ad format is now in the most recent version of the Pinterest mobile app, where Kohl’s Corp (NYSE:KSS) is currently advertising women’s spring apparel.
- In addition to a short video that plays overlaid by text, there’s also a button that takes users to Kohl’s website. The site opens within the Pinterest app, not as a separate tab.
- Pinterest has catered to advertisers by allowing them to create Pins featuring products or ideas within the Pinterest home feed and relevant search results.
- But many Pinterest users do not open the app to browse the feed, nor are they looking for a specific product. The new format would allow advertisers to capture these new customers.
- Though Pinterest sold the ads in 24-hour blocks, marketers can book the ads back-to-back to hold the top spot even longer.
- Pinterest confirmed the ad pilot with a statement. “As we continue to build a suite of products to drive performance across the full funnel, we’re exploring a new takeover feature that showcases a brand in a new premium, exclusive placement.”
- Video ads may be able to better appeal to those younger users, as they inspire them to shop from videos elsewhere, including TikTok, Meta Platforms, Inc (NASDAQ:META) Instagram Reels, and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) YouTube.
- Price Action: PINS shares traded lower by 0.51% at $25.52 premarket on the last check Friday.
- Photo by TheDigital Artist via Pixabay
Wells Fargo Downgrades Hudson Pacific Properties to Equal-Weight, Announces $27 Price Target
Wells Fargo analyst Blaine Heck downgrades Hudson Pacific Properties (NYSE:HPP) from Overweight to Equal-Weight and announces $27 price target.
