Fresh from its latest earnings update, Pinterest has also announced a new partnership with Amazon, which will allow Amazon advertisers to expand their campaigns to Pinterest through an integrated presentation and purchase flow process. As per Pinterest:
“As user engagement with shoppable content on Pinterest continues to grow, we’re pleased to have selected Amazon as our first partner for third-party ads. The partnership with Amazon will bring more brands and relevant products to the platform combined with a seamless on-Amazon buying experience for consumers and offer advertisers strong performance.”
Third Interests
It’s the first element of Pinterest’s planned expansion of its ad offering, which will open up more opportunities for brands to find new opportunities in Promoted Pins. 463 million is no small Monthly Active User (MAU) count, each coming to the app in a discovery and purchase mindset, it could be a valuable addition for a range of brands who purchase campaigns through partner apps, which could meaningfully boost Pinterest’s revenue potential.
This is something Pinterest really needs. Pinterest’s Q1 update shows a slowdown in revenue intake despite a steady increase in users. That’s largely reflective of broader economic conditions, but it still puts more pressure on Pinterest to improve where it can, and opening up its ad platform to more partner providers could be a good way to do just that.
Most other big social platforms are actually cutting back their collaboration efforts with third-party groups, primarily as a means to cut costs, so hearing news about new partnerships is a breath of fresh air, and is actually more of an unexpected move right now, which also presents potential new opportunities.
The Wrap
Here’s where Pinterest currently stands – despite a respectable presence, it often feels like an afterthought for Social Media Marketers. Facebook remains the numero uno option, followed by Instagram, then TikTok; after these three, every other platform becomes much less of a priority, receiving highly skewed consideration as a result, if any at all. Again, remember that Pinterest has 463 million users who come to the app with high purchase intent. By presenting this to Amazon merchants, and eventually, other ad partners, that could have more businesses looking Pinterest’s way, which hopefully propel it to the heights it wants as the digital shopping capital of the world.
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