Pinterest Expert Explains What You Need To Know About Promoted Videos
One of the biggest challenges for businesses on Pinterest is creating original content. At some point you’ve exhausted all the different ways to re-purpose your content by extending the reach of your blog. For example, if you’re a blogger your blog post has been recreated into an e-book, a guide, a slide deck, a how-to, an F & Q, an infographic, and yes even videos. But if those videos didn’t get much engagement on Pinterest well that’s about to change.
Business in the US and UK will be able to purchase video ads called Promoted Videos. As a matter of fact businesses on Pinterest have been anxiously waiting for this to happen.
Pinterest will make it easier than ever before by including personalized recommendations to help Pinners find video clips to watch.
Image credit: Pinterest blog
Pinterest Expert Explains: What do the Promoted Videos look like and where will they appear?
You will see the Promoted Videos on the home feed, search results, and category feed.
On Pinterest, the video ads will appear as previews in a user’s feed and will play as quickly or slowly to correspond with users’ scrolling pace. You have to click on the video to hear the sound. Below the video you will see up to six featured pins of products related to the Promoted Videos so Pinners can buy it or take action. These videos can be up to five minutes long, for now anyway.
Pinterest Expert Explains: Why videos matter on Pinterest.
According to Pinterest videos have received a 60% increase in popularity over the past year. Topics include; cooking demos, fitness workouts, hair and beauty tutorials, and home projects. Pinners apparently are 2xs more likely to act on a how-to video on Pinterest compared to videos they find on other websites.
It only makes sense that Pinterest is finally getting serious about the power of video after all Facebook, YouTube, Instagram, Twitter, and Snapchat have already embraced it. But what really sets apart Pinterest from all these other social platforms is that Pinterest users have a buying mindset which is not the typical behavior in other socials. Here are some stats about video marketing:
- 90% of users say that seeing a video about a product is helpful in the decision process.
- After watching a video, 64% of users are more likely to buy a product online, according to ComScore.
- 1/3 of all online activity is spent watching videos.
Pinterest Expert Explains: If The Promoted Videos Are Worth The Investment.
- Promoted Video heightened ad memorability. While simply seeing a video preview drove a 5 point increase in Old El Paso Promoted Pin awareness, clicking to view the promoted video drove a remarkable 36 point increase in awareness, indicating that these videos are highly successful at capturing and retaining viewers’ interest.
- Promoted Video increased brand favourability. Due to the longer, more interactive format, people who viewed the promoted video felt more favorably toward Old El Paso (+7.6 points) and were more likely to associate the brand with being creative (+10.2 points).
- Promoted Video drove intent. Since video tends to be a much more compelling way of storytelling, promoted video viewers were also more likely to respond that they were interested in trying out the recipe featured (+7.9 points).
Pinterest Is Chasing Video Ad Dollars
U.S. video ad sales in 2015 were $7.46 billion according to eMarketer. Advertisers are projected to spend $12.82 billion on digital-video ads in 2018, up from $7.7 billion last year, according to research firm L2.
Pinterest has been testing the Promoted Videos with companies such as Universal Pictures, Old El Paso, Kate Spade, Lionsgate, PURINA, BEHR Paint, and L’Oreal.
Pinterest Expert Explains: How To Get Started With Promoted Videos?
According to Ad Age, Pinterest requires a minimum investment of $500,000 with CPM (cost per thousand impressions) ranging from $15 to $20! WOW!
At this time the Promoted Videos are only available to US and UK businesses working directly with Pinterest’s team – an actual Pinterest salesperson. It is definitely not like the Promoted Pins. They are not available to self-serve partners or Marketing Developer Partners.
Businesses will be charged for video impressions but there are no extra costs for the featured pins below the video. But here’s the thing marketers will still be charged even if users doesn’t watch the video ads.
Promoted Videos are only available on mobile at this time which makes sense because over 80% of Pinners use its site with their mobile device.