Following in the footsteps of social media sweethearts like Facebook and Snapchat, Pinterest has announced its first round of video advertising will start showing up in feeds in the next few weeks.
Brands like bareMinerals and Kate Spade are already on board for the test run to see if they can get better engagement from their target markets.
“We are investing more of a percentage of our marketing budget in digital and mobile because that’s where the Millennial is spending her time,” Rebecca Boston, global director of social marketing for bareMinerals, explained in an interview with the New York Times. “She’s not watching as much TV as she used to.”
Little TV for Millennials
The lack of television time is a trend that’s universal for Millennials, and advertisers have known this for a while. The question of how to reach this vital demographic has been the problem, though. Social media wasn’t set up for advertising, not in a traditional sense—but it has slowly been adapting to meet marketers somewhere in the middle.
“Talking to advertisers, there’s an insatiable demand for video inventory,” Jon Kaplan, head of global sales at Pinterest, told the New York Times. “The viewership of TV is something that’s of concern to them. That viewership is going down, ratings are going down, and they need places to accomplish their business objectives where people are spending their actual time.”
100 Million on Pinterest
More than 100 million visitors have been spending their actual time on Pinterest each month, pinning and sharing DIY projects, fashion, home design, gardening and other ideas with each other on the social scrapbook. Last year, Pinterest’s most popular site to use with the “Save” button was Etsy, and this year it’s YouTube. The company says it’s seen a 60 percent boost in videos saved by users in the last year.
Pinterest users are definitely ready for video, but the big question will be whether or not video advertisers are ready for the unique marketing platform that Pinterest offers. Now, more than ever, pinners know that they’re being marketed to when they pop on the site. Time will tell if video content will need to be designed specifically for this niche market in order to really succeed, or if simply putting video behind products that are already finding traction on Pinterest will be enough.