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Pinterest Eyes Affluent Customers With Premium Video Ad, Test Product In Search Tab – Pinterest (NYSE:PINS)

March 3, 2023 6:51 AM | 2 min read

  • Pinterest, Inc 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 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 META Instagram Reels, and Alphabet Inc GOOG 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

© 2023 Benzinga does not provide investment advice. All rights reserved.

  • Also Read: Pinterest Bows Down To Macro Uncertainties; Lets Go Of 150 Workers
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    Donovan Larsen

    Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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