Pinterest is the latest social network to invest heavily in video content advertising. Here’s what you need to know about its newest update…
It’s impossible to not notice the huge influx of video content we’ve seen on social media in recent months.
From live videos on Facebook showing people trying to pick up coins glued to the floor (we’re looking at you, The Lad Bible) to 360 degree tours of New York City from the air, video in all its formats is truly starting to dominate the social feeds of users around the world.
As you’d expect, brands and businesses are betting big to try and tap into the latest trend, and video content advertising is on the rise.
Pinterest is the latest social platform to follow in the footsteps of Facebook, Twitter, Snapchat, Instagram (yep, just about everyone!) and introduce video ads to its mobile feed. You can see the new feature in action below:
Pinterest’s Head of Sales Jon Kaplan said the network is “investing heavily” in the concept in a bid to not get left behind by its rivals, having seen the number of video pins on the site grow by 60% in the last 12 months.
Pinterest, although traditionally a network dominated by standard images, is rapidly becoming more video-focused – it says a lot that YouTube is now the most popular external website which is pinned to users’ boards. It also recently launched its own native video player to let users showcase their dream homes, favourite recipes and wardrobe wishlists in video form.
The network is being pretty flexible in terms of what formats marketers can use for their video pins, which should serve the new concept well. For example, brands can make video ad content especially for Pinterest or re-purpose their ads from elsewhere – this means that marketers can use the same ads as they do on other platforms, making Pinterest video advertising a convenient, quick and easy-to-put-together addition to a brand’s strategy.
The new ad tool has already been successful trialed by some well-known brands. Mexican-style food brand Old El Paso was one of the initial guinea pigs willing to give it a go, finding that video pins proved to be four times more memorable than regular promoted pins.
“Over 100 million people around the world come to Pinterest every month to discover ideas to try. One of the best tools for bringing those ideas to life is video, so it’s no surprise that this format has been popular on Pinterest.”
– Mike Bidgoli, Pinterest Product Manager
It’s been predicted that marketers will spend almost $13bn on internet video advertising by 2018. Although Pinterest is very much following in the footsteps of rival social networks, it’ll be hoping that the introduction of video advertising, coupled with its e-commerce focus, will see the network ad to its current $11bn value.
Looking to make the most out of your social media marketing? Got a question about Pinterest and how it could benefit your brand? At Media Agency Group we offer social media management and advertising packages, delivered by SM experts at cost-effective prices. Get in touch with us for more information – you can also follow us on Twitter @MediaAG.