Popularimage sharing platform Pinterest has announced a handful of new features as it looks to improve advertising and shopping on the platform.
In a blog post, the company’s Chief Revenue Officer, Jon Kaplan announced four new rollouts: slideshow for collections, merchant deals, Verified Merchant Program, and Idea ads with paid partnership.
While the first two are brand new products, the third one is an upgrade, while the last one is currently in testing stages.
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The slideshow for collection feature pulls various products from user catalogs, and turns them into short videos, or “collections ads”. The videos are lightweight, dynamically created and tailored for every shopper, Kaplan said.
Explaining the idea behind the feature, Kaplan said Pinterest users love video and generally have bigger shopping carts, compared to users on other platforms. So, if they’re able to see more products, they might be interested in spending extra cash, as well.
The “merchant details'' product is all about inclusivity and social responsibility. Through this feature, users are able to present their values to the world, such as “responsibly sourced,” “invested in good” and “inclusive”. “You can also highlight communities you belong to, such as “Black-owned,” “Latinx-owned,” “Woman-owned,” “LGBTQ+ owned,” “Disability-owned” and more,” he explained.
Making purchase decisions
The Verified Merchant Program feature, which finds vetted brands around the world and provides them with a checkmark on their profile (similar to what verified Twitter accounts have), is expanding to Austria, Brazil, Italy, Mexico, the Netherlands, Spain and Switzerland.
Finally, the “Idea ads with paid partnership” feature, which is currently in testing stages in 15 countries, is a joint partnership between creators and advertisers. If a creator builds an Idea Pin and tags a brand, the advertiser can promote it as an Idea Ad.
“People who use Pinterest weekly are 7x more likely to say it’s the most influential platform in their purchase journey, compared to social media platforms,” Kaplan explained “That’s why, as of today, we’re dramatically expanding our suite of shopping solutions for advertisers.”
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