Pinterest, the image search platform, saw a huge spike in growth last year. In July, the company announced it had reached 400 million monthly active users. Now, that number has gone up to 459 million users. This increase is because Pinterest’s audience is now more diverse. Although women still make up a large part of the company’s audience, there are now more men and Gen Z Pinners than before. Last year, each one jumped up about 50%.
With so many active users on the platform, the company is introducing new marketing tools to attract advertisers. At Pinterest’s first-ever global advertiser summit, Pinterest Presents, the company introduced a new video ad solution and measurement tools.
Pinterest Premiere is the company’s video ad unit that advertisers can purchase to target consumers based on a user’s behavior. The video ads appear during specific time frames on people’s feeds and target a consumer’s interests.
“Pinterest Premiere gives you the option to align video ad targeting with either a specific demographic, or a specific category (combining demographics and interests). These packages are set up to help you drive broader reach and scale for moments like launches, brand events or even ongoing campaigns,” Pinterest explained.
About one billion videos are watched by Pinners each day on the platform. According to Pinterest, video views increased 100% year-over-year in Q4 of 2020. And, unique video uploads have increased six times over. With very positive results last year, Pinterest is going to focus more on video ads.
“We want to continue to invest in video to provide our users with more dynamic experiences, like how-to tutorials, and more engaging, immersive storytelling from brands,” said CMO Andrea Mallard. “So we are taking these first important steps to build a creator ecosystem around story pins so that a new generation of creators can create great content and enrich the lives of pinners.”
At the summit, Pinterest also revealed Pinterest Trends and Conversion Insights. According to the company, this planning and measurement tool “will show actionable insights to help advertisers optimize their performances and opportunities to reach consumers.”
Pinterest had a more than successful 2020 Q4, and the company believes their new marketing tools, especially Pinterest Premiere, will help them continue that success.
“Just like Pinners, we have a lot more planned for 2021. We hope you’ll keep looking ahead with us towards new ad opportunities, new partnerships and a broader global footprint,” a company blog post read.