Rebel Hack

How Pinterest Ads Help Grow Your Business

At Rebel Hack we’ve been working with Pinterest Advertising for a long time! Our conclusion? We strongly believe that Pinterest Ads could help your business grow. You just need to make sure you’re doing it right. This article should help you understand a bit more about Pinterest Board Ads and also give you an idea of some of the stuff we’ve learnt on our journey.

Aricle contents – we will be going through:

Pinterest; what is it, really?

Should you advertise on Pinterest?

What can you expect from Pinterest Advertising?

What Do You Need to Create a Pinterest Campaign?

1) Pinterest; What is it, Really?

Pinterest is a social media platform. It allows users to share images and videos within the Pinterest Network (you can pin videos? Yep, you can!). The pictures and images that you post are called ‘Pins’ and usually fall under one of the most popular categories of: Food, DIY, Home Decor, Fashion, Quotes, Health & Fitness, Humor, Technology and Beauty.

Here’s 4 interesting facts about Pinterest:

Over 80% of Pinterest users are females Click To Tweet Pinterest has Over 175 million monthly active users Click To Tweet Over 50 billion Pins have been shared (billions!!!) Click To Tweet Pinterest users spend an average of 14 minutes per visit browsing Click To Tweet

2) Should You Advertise on Pinterest?

If you are thinking that the 4 facts listed above are interesting but useless and don’t add any value; you are wrong, my friend! All information out there is extremely important and will help you and your team make the right strategic decisions on whether it’s a good idea to invest in this specific channel or not.

At Rebel Hack we believe that it’s never a great idea to completely exclude a channel unless we can prove that the channel is not contributing to growth (some channels might not be directly generating sales but they could be indirectly contributing to driving ROI). How can you prove if a channel is worth it? With DATA! Data is what leads our decisions. But, what if you don’t have any data? What if you don’t have a benchmark? Well, in this case you will have to rely on the information you do have & a bit of gut feeling.

For some people, the decision is a lot easier than others. For example, if you are a fashion brand looking to drive traffic to your site and boost sales of a new handbag design – it’s a no-brainer. However, if it’s not so clear cut and you’re not sure Pinterest is the right channel, asking yourself some easy questions can help you decide.

* Bid & targeting will have a huge impact on the CTR. However, by creating a tailored landing page you might be able to acquire leads at a high Conversion Rate. Raising the bid will probably help you increase CTR, this could result into a higher CPA.

i.e the picture above. If the landing page has a 30% conversion rate (email lead acquisition), you will be looking at a CPL (cost per lead) of around £3.7:

General Results:

Impressions

Clicks (Sessions) CTR Cost CPC Leads (Google Analytics) CR CPL

59,622

81 0.14% £97.46 £1.22 24.3 30%

£4

 

Daily report:

Date Spend Impressions Clicks CTR Leads (approx) CR (approx) CPL (approx)
14-Aug £13.31 9354 12 0.13% 4 30% £3.33
15-Aug £13.48 12469 11 0.09% 3 30% £4.49
16-Aug £16.79 7982 14 0.18% 5 30% £3.36
17-Aug £13.98 7041 11 0.16% 3 30% £4.66
18-Aug £10.34 7582 9 0.12% 3 30% £3.45
19-Aug £15.66 4739 12 0.25% 4 30% £3.92
20-Aug £13.89 9311 12 0.13% 4 30% £3.47

 

Find below 3 graphs that correlate to spend:

Fig. (a) shows that there is no particular correlation between Spend and Impressions. Main reason here is that spend is highly dependent on amounts of clicks and not impressions. i.e. on the 18th of August we can see a drop of 30% in spend when compared to the £13.98. It’s important however to underline that we are working with limited data and relatively low spend in this specific example.

Fig. (b) shows a direct correlation between Spend & Clicks, meaning that the CPC has very little fluctuations in value (it sits around £1.15 and £1.31 on a daily basis, averaging at £1.22).

Fig. (c) some days can lead to a higher amount of clicks. This is why the above graph is showing spike such as 15th and 19th of August. The CTR can be affected by multiple reasons such as (day of the week, time of the day, seasonality etc). In this specific case we don’t have enough data that can help us define the specific reasons behind those trends.

We tested Pinterest for various businesses and we’ve achieved great results in lead acquisition. Here is where it gets tricky… Pinterest will decline your ads if you are driving traffic directly to a page with an acquisition form. But there is a hack around it, something that we won’t be able to share with you here though 🙂 – That’s why they call us ‘Rebel Hack’!

We are currently managing multiple accounts and Pinterest really has been a great source of lead acquisition at a relatively low CPL (cost per lead – lead being name + email). It’s still fairly new in the UK having launched in April 2016 and is still a great, relatively cheap opportunity for businesses.

3)What can you expect from Pinterest Advertising?

If you never ran a Pinterest Campaign before but you want to give it a try, follow the steps below to get started:

What Do You Need to Create a Pinterest Campaign?

So, if you can get all of that together, this is what you need to do next, step by step…

1) Set up Your Billing Information (this will only take a couple of minutes)

 

2 – Create Your Pinterest Ad

 

3) Choose the Campaign Type

There is a list of campaign options (in this example we will go for the traffic to website campaign)

Choose your campaign depending on your goals

4) Campaign setup and Targeting Options

Add more details

Give a name to your campaign, assign a daily budget and select your audience. You can target by saved audience, by interest or by keywords. As you can see from the screenshot below you can also target by location, languages, devices and gender.

Depending on the audience and targeting settings, the bid cost will vary but it’s usually around £1 / £1.50. Once the campaign is launched, results will show up within 24 hours from launch.

The most common reasons of ad disapproval:

So, Are Pinterest Ads worth it?

At the moment Pinterest are still relatively inexpensive compared to some other channels, however, as they gain in popularity the cost is going up. Some businesses will find a natural affiliation to Pinterest, especially if they’re in the fashion industry or selling a product that a large section of the Pinterest user demographic are interested in.

Creating campaigns are relatively easy as long as you stick to the guidelines and you should see results quickly – just ensure you have a solid idea of what you want to try and achieve with your campaign. Keeping all this in mind and drawing from our experience, Pinterest Advertising is totally worth it.

Give me a shout and tell me what you think; has Pinterest advertising worked for you or are you about to try it?

Please contact us if you would like to discuss how we could help you grow your business. Love, Giovanni at the Rebel Hackers.