As it continues to expand its ad offerings to maximize its business opportunities, Pinterest has recently announced that Pin Ads will now be made available to all businesses in Argentina, Colombia, and Chile.

As per Pinterest:

“Businesses of all sizes now have access to multiple types of ad formats and targeting options in Argentina, Colombia, and Chile, to reach new audiences with meaningful, useful content as they discover ideas and plan new projects.”

Pin Ads Expansion Pack

Pinterest says that it recently launched its first ads with a small group of early partner brands in the regions mentioned above, including the likes of Tiendas Paris and Publicis Groupe, which has paved the way for its current full market expansion.

This is the latest announcement regarding Pinterest’s Latin American business push, with Pinterest Ads also being made available in Brazil and Mexico last year. In the region, Pinterest reaches around 80 million active users per month, which is roughly over 18% of its total user base, representing a significant opportunity and highlighting the expansion potential that Pinterest still has. Furthermore, Pinterest also launched ads in Japan last month, reaching an extra 8.7 million active Pinners.

It’s somewhat surprising to consider the extended reach that Pinterest has yet to achieve with its ads business and how much would translate to more company revenue. With the platform recently warning of its revenue pressures this 2022 and its user base in flux to a certain degree, Pinterest must tap into these markets to boost its potential and showcase its value to investors. Perhaps this will help remit incoming Pin CEO Bill Ready. It’s been nothing but a roller coaster ride for Pinterest throughout the pandemic, with usage reaching new heights, only to normalize once more. This has left many users unsure about the app’s future. Ready, who’s a former Google Commerce Chief, will now take on the task of stabilizing the platform, thereby maximizing performance by significantly expanding the ad business side of things.

The Wrap

In marketing its new Latin American expansion, Pinterest also reiterates that 97% of the top searches in the app are ‘Unbranded’ and consist of 2 – 3 word queries, making Pinterest an effective tool to reach people who are still considering their next purchase.

“Pinterest is one of the rare platforms where it is truly possible for brands to engage with new customers who are intentional, open, and making buying decisions.”

There lies an opportunity for Pins still, and the addition of Google Insider should only help advance its discovery ambitions. So, for those of you who still placed your bets on Pinterest, don’t count a loss just yet. Stick around long enough and you might still get good returns on your investment.

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Sources 

https://bit.ly/3NYS5yZ