At the beginning of 2015, Pinterest made their promoted pins accessible to all advertisers, and now digital marketers are scrambling to figure out the benefits this service can provide to their clients. Like we have seen with suggested posts on Facebook, Promoted Pins are a pay-per click form of advertising, and with the introduction of this feature, Pinterest is poised to unlock the doors to a new frontier within one of the most used social platforms. But is this enticing offer ready to stand up to the needs of higher education marketers?
The potential benefits seem vast when one considers the massive audience that Pinterest has accrued, but the platform has yet to display that it can compete with the complex targeting capabilities of competitors like Facebook or LinkedIn ads. Nate Elliott, Vice President & Principal Analyst at Forrester Research, recently published an article on Forbes.com (read “The Pinterest Conundrum“) stating that: “Marketers can’t tap into most of Pinterest’s fantastic user data … Pinterest’s marketing value lies more in the future than in the present.”
I’m inclined to agree. Without a niche target audience, how can you have faith that your promoted pins will reach your desired demographic? From a pay-per-click (and budget-balancing) perspective, there is a lot of non-relevant traffic and, even worse, the prospect of wasted spend. Here are some similar responses from Twitter:
Although promoted pins have been shown to yield an increase in both impressions as well as traffic, neither of these promising metrics can guarantee the conversion rate implicit of a viable marketing strategy…yet. That’s why, in an effort to bring to fruition their continued rise in the paid social sphere, Pinterest has recently acquired the ad tech startup Kosei, a data firm which specializes in data science and recommendation engines.
So far I’ve come across nothing quite newsworthy on what specific targeting features are on the brink for Pinterest Ads, but Twitter is alight with references to the recent acquisition of Kosei, and promises of a bright future are in the wake of Promoted Pins’ woeful introduction.
While we await these enhanced targeting features, higher education marketers should not forget that Pinterest can be an outstanding tool for humanizing higher education to prospective students. In one of my favorite articles I came across during my research for Pinterest’s potential for Higher Education (“Why Pinterest in Higher Education Can Work“), Sheri Lehman writes: “I like to think of it as a retention tool, not a recruitment tool.”
For the time being, my recommendation is to use Pinterest itself (minus the ads) to work toward establishing a relatable online presence and to wait and see what promoted pins have to offer next. Promoted Pins still have an enormous amount of room to grow in order to merit significant investment, but I will continue to provide updates as we see these enhanced targeting features take shape.
Andrew is an analytics and paid search expert that researches, plans, and manages Circa Interactive‘s client PPC campaigns. He is a graduate of the University of California, Santa Barbara, and is both Google Adwords and Analytics Certified.