Pinterest is growing at a rapid pace as it recently hit a milestone of 250 million people using the social network each month.
The company said it now has “over 175 billion ideas to discover,” a rise of whopping 75 percent since last year. Adding, it said about 78 percent people say “content from brands is useful .”
Currently, Pinterest has 1.5 million businesses active on its social networking platform. The company has following advertising solution now available for businesses to reach customers, including Promoted videos at max width, Shopping ads, and Business profiles.”
People go to Pinterest to “find ideas, discover products and try something new,” and the platform plays a major role in their buying decisions, Pinterest said.
“That shopping mindset translates into great results for advertisers. Because people are specifically looking for new products and ideas on Pinterest, ads feel relevant.”
Now, with the two latest measurement tools: “Oracle Data Cloud’s Moat Measurement for viewability,” and “NinthDecimal for foot traffic,” Pinterest promises to offer more insight into what drives brands’ performance on its platform.
Pinterest has higher ad viewability than other platforms. Moat’s viewability results for Pinterest explains that its “in-app ads average 90 percent viewability vs. the industry benchmark of 57 percent.”
That’s because Pinterest is primarily used for visual discovery.
Viewability usually translates into better results, so with Moat it’s “helping marketers see the impact of a visual-first platform,” Pinterest said.
So far, Moat solutions for standard Promoted are available. And, it’s also being tested on Promoted Video ad formats.
But viewability isn’t enough. Ads also need to both relevant and doable to drive results.
A result of NinthDecimal’s analysis of billions of ad impressions across verticals such as “retail, auto, entertainment, quick-serve restaurants, and consumer packaged goods,” revealed Pinterest’s incremental lift.
“93% of Pinterest campaigns studied drove a positive lift in foot traffic.” The study also shows new customer growth—”51-69 percent of people who visited a brand’s store were new customers.”
With these new partnerships, Pinterest says, its “extensive suite of measurement solutions” has now expanded to over 20 in less than two years.
Adding the company said, it will continue to build on that momentum in the “next few months.”