While hearing about ads coming to your favorite social network may turn off some people, those in the tech community have been anxiously awaiting to see when Pinterest would finally take their platform, that’s just absolutely made for advertising, and start actually running some ad units.
Adage reported on Monday that Pinterest has finally launched their advertising platform and has some big brands already signed up.
The social bookmarking platform,that’s dominated by crafty men and women, brides to be and puppy dog fans, has raised $564 million to date, and have been taking there sweet time developing a full business and monetization strategy.
Now they’ve kicked off advertising with what Pinterest’s head of partnerships, Joanne Bradford, calls a “consultative approach” to ad selling. Bradford and her sales team at Pinterest are going to work hand in hand with brands to make sure that they know what kind of advertising resonates with Pinterest users. This is the same kind of approach Google recently highlighted in a YouTube conference aimed at marketers.
The first advertisers to sign up with Pinterest committed to a minimum campaign of six months which cost between $1 million and $2 million dollars. Kraft, General Mills, Ziploc, Nestle, Gap, ABC Family, Expedia and Lululemon have all signed up to advertise. This initial push will be backed up by CEO Ben Silbermann who will head out to Cannes this year to court more advertisers that are relevant to the Pinterest user.
While Pinterest doesn’t rank up there with Facebook and Twitter in terms of users, the Pinterest user is generally more active and also leans female. They’re also into buying things or at least talking about buying things. Many users use Pinterest as a wish-list reminder platform of things they may want to by next week or whenever they get the chance. This is a very valuable user.
“Our target is 25- to 54-year-old women, and Pinterest is a perfect fit,” Deanie Elsner, CMO at Kraft Foods told Adage.com.
Kraft will expand upon an advertising avenue on Pinterest created by users. Kraft will run promoted pins featuring recipes with their Jell-o, Cool Whip and Kraft Cheese brands. Kraft’s social media team has already engaged with several Pinterest users when it comes to using their products in recipes.
While many big brands use Facebook, Google, Twitter and YouTube to reach the masses, these same brands will turn to Pinterest to reach a more qualified customer.