Pinterest held its second annual Pinterest Presents global advertiser summit. They indeed drove home the theme, “It’s Different Here.” Many new and different things are happening on Pinterest to meet the user and brand shopping and advertising needs.
To help bring their shopping experience to life, Pinterest invited several creators and experts, including one from Queer Eye. Tan France had the pleasure of introducing Pinterest’s Your Shop.
Pinners will now see a customized shopping experience with brands and products personalized to their preferences based on their activity on Pinterest.
Your Shop was beta launched in the United States this month, with plans to roll out later this year and more markets globally to follow.
Since the launch of merchant details in the fall of 2021, they have found that brands with merchant details on their profiles were 16% more likely to make a sale.
What are merchant details?
Brands can add merchant details to help personalize and showcase their values on their profiles, such as “responsibly sourced” or “inclusive.”
In order to do so, first, you need to be a verified merchant. Verified Merchants get enhanced distribution on Pinterest, as well as a special “verified” blue check that helps build trust from Pinners.
Pinterest has finally begun rolling out a long-requested feature to checkout within the app. This new tool is simply called Checkout and is available in beta for select Shopify merchants in the U.S., with growth expected later this year.
Pinterest’s New Application-Programming Interface
Pinterest also announced a new API for shopping. This would automatically update the catalogs and instantly reflect brand events like sales or items going out of stock.
Idea Ad with Paid Partnership
There’s a new ad format on Pinterest: Idea Ads with paid partnership. It is currently in beta but will become more widely available later this year.
Pinterest creators can tag a brand that sponsors them in order to create an Idea Pin with paid partnership. Then the business can then promote the Idea Pin to create an Idea Ad with paid partnership.
Pinterest revealed that Pinners who interact with Idea Pins have a higher purchase conversion rate than Pinterest users in general. The statistic was a staggering 90% of Pinners were more likely to shop tags on Idea Pins.