Pinterest, the social blogging platform, has launched its first mobile video advertising product. Promoted Video builds on the company’s Cinematic Pins and hence is still a little closer to an animated GIF. Video content has been pinable on the site for over five years now and the company says that there’s been a 60% increase in videos posted last year alone.
Pinterest launches video advertising format
Ultimately, Promoted Video is a bit of a combination of Cinematic Pins and video. Advertisers can buy up to six Pinterest Buyable Pins to display with music auto playing. Videos are embedded within these Cinematic Pins that will play soundless frames as a user scrolls. If these teasers are then tapped, they expand into video. Video formats can be up to five minutes in length.
Users can also discover video ad related pins that are chosen by the brand to display alongside the video ad.
The firm hopes that Promoted Video can drive ad revenue. After all, 55% of consumers on the site come there to find a product or indeed shop for one. Another 75% of consumers said they enjoyed business and retail content from Pinterest.
The company tested the format with 12 partners, including Garnier, Universal Pictures and General Mills’ Old El Paso. Millward Brown research highlighted that, Old El Paso, for example, saw significant brand lift following a Promoted Video ad campaign. These ads were 4x more memorable than non-video ads.
Meredith Schaffner, Marketing Manager, Old El Paso, says:
“We’ve run several campaigns with Pinterest and consider video a natural evolution on how we want to connect with our Pinterest audience. Our customers come to Pinterest with high intent and the ability to show a recipe and our products through video is a unique opportunity to drive higher performance.”
Brands that have partnered with Pinterest for the launch further include bareMinerals, BEHR Paint, kate spade new york, Lionsgate and PURINA.
bareMinerals, for example, featured a step-by-step guide as its Cinematic Pins on top of the underlying product video.
In terms of pricing, marketers are charged for every thousand serves. Ultimately, advertisers are paying for the GIF impressions not the video views. The company will offer metrics on completion rates and how many clicks a featured pin generated.
Right now, Promoted Video is only available for advertisers in the US and UK through sales representatives at the company. However, Pinterest plans to roll out the feature as part of its self-serve advertising platform.
Since 80% of its users are mobile, Pinterest is not in a rush to roll out the feature for desktop ads.