Image collecting site, Pinterest, is making strides in the world of video ads for marketers aimed at search results and feeds.
Pinterest joins a number of organizations including Facebook, YouTube, Twitter, and Snapchat that want to make money by selling video ads. While some advertisers have examined estimation, wrong details, and inaccurate stats, some platforms have failed to keep pace. Pinterest plans to avoid this by inking deals with Moat and Nielsen, enabling advertisers to vet measurements through outsiders.
Pinterest began testing Promoted Video last August with brands including General Mills, Kate Spade New York and Universal Pictures. At that point, it moved to autoplay, a configuration brought into play by Facebook, and started putting video promotions inside query items and feeds.
“One of the unique differentiations for video on Pinterest was that it’s not only about inspiration, but it also helps people do things,” said Mike Bidgoli, product lead at Pinterest. “Obviously the format moved to autoplay, which made it easier for advertisers to be able to buy and measure the same way that they are with everything else. The overarching point is that we wanted video to have third-party measurement from the get-go.”
As indicated by several reports, Pinterest is going for $500 million in revenue this year, up from $300 million since 2016. That implies video will be essential to increasing Pinterest’s promotion business this year.
“We’re going to continue to add more third-party measurement providers—the goal is we want this to be verified by the broader ecosystem [and built] the way that video buyers want to buy,” Bidgoli said.
Video ads are available in three ways: the self-serve platform aimed at smaller marketers, Pinterest marketing partners who buy ads through the site’s API, and through account managers for top-spending advertisers.