Pinterest advertisers can now buy ads based on how much they want to pay for impressions rather than engagement, the company announced. The company has also added frequency capping.
“Now you can bid on a CPM [cost-per-thousand impressions] basis and we’ll optimize how we deliver your ads to reach more people,” according to a Pinterest blog post. You can also specify the maximum number of times someone sees your campaign. By using this new solution, you’ll get more impressions for your campaigns at more efficient rates and drive higher results.”
In the past, Pinterest’s CPM-based ads were only available at fixed prices. Pinterest was trying to get between $30 and $40 for those. Now the ads will be more performance-based, which should result in lower prices.
Brands testing Pinterest’s new auction-based ads included JCPenney, The Home Depot, and General Mills.
The ability to bid on an impression basis brings Pinterest more in line with other ad networks, such as the Google Display Network and Facebook Ads.
The new CPM-based ads are available now for all businesses in the U.S., UK, and Canada.
This is Pinterest’s latest attempt to improve it’s advertising offering.
In June, Pinterest gave advertisers three new ways to target users (customer list targeting, retargeting, and lookalike targeting). Then Pinterest opened up access to Buyable Pins to the entire web, instead of just mobile users.
Want to learn more about Pinterest marketing? Check out our post: How to Create a Promoted Pin That Will Actually See Results.