Last month we reported that Pinterest was starting to roll out their new advertising unit, Promoted Pins. At that time, Pinterest was looking to get big brands to buy into Pinterest advertising campaigns to the tune of $1 million or more per campaign.
Obviously, that immediately ruled out the chances of small to medium sized businesses being able to promote themselves on Pinterest. Well, now it looks like Pinterest is going a different route and opening up Promoted Pins to more businesses in a very Facebook-like advertising model.
To get started with advertising on Pinterest, visit their new ad dashboard which explains the new advertising process they are working on.
You start by picking one of your Pins that you want to appear in Pinterest’s search or category feeds, then set up your targeting and decide who you want to see the ad.
Instead of paying by impressions, like on Facebook, Pinterest says you’ll only pay when people click through to your website. Once you have set up your Promoted Pins, Pinterest will offer comprehensive analytics to track which of those Pins are getting the most clicks, impressions, and repins.
For now, if you’re interested in advertising on Pinterest you have to join a waiting list by filling out this form. It’s interesting that one of the fields on the form is to indicate whether your business spends more or less than $20,000 per month on advertising. Not sure if that means Pinterest will be prioritizing big spenders over everyone else, but it is worth noting.
After filling out the form, Pinterest says they will get back to you when they’re ready to get you started. Will you be signing up? Let me know what you think about Promoted Pins in the comments section.