Last week, Pinterest hosted Pinterest Presents, its first global advertiser summit with sessions in the US, UK, France, Germany, Canada and Australia, offering attendees with an immersion into its global vision to build a positive and inclusive platform.
Pinterest’s summit gave attendees an exclusive look at the platform latest ad product updates, which include Pinterest Premiere, a new video ad solution that will help advertisers reach their audience at-scale by owning exclusive video placement, as well as Pinterest Trends and Conversion Insights, the platform’s latest measurement tools that will show actionable insights to help advertisers optimize their performances and opportunities on Pinterest.
Pinterest also unveiled a new study on Gen-Z and male users, offering advertisers key insights on the two audiences that are key drivers of Pinterest’s new user growth in the UK.
During the virtual event, the global marketing community had access to talks and creative sessions led by an exciting line-up of Pinterest speakers such as Pinterest’s CEO, Ben Silbermann and Andréa Mallard, Chief Marketing Officer as well a range of compelling local industry voices.
In the UK specifically, Elizabeth Day, Journalist and Broadcaster and Karen Blackett OBE, UK Country Manager, WPP and CEO, Group M, discussed personal and professional stories of positive failure through the lens of inspiration, and Steven Bartlett, Founder of Social Chain interviewed Alex Loizou, Founder of Trouva about being an entrepreneur and heading up a challenger brand.
Sinéad Burke, Founder of Tilting the Lens, shared her personal story on how she lives in a world not designed for her and addressed how accessibility needs to be better integrated in technology.
With a focus on accessibility, Pinterest Presents was certified as a DICE-recommended event with the maximum score of 100%, and was created in collaboration with Sinéad Burke, the Founder of Tilting the Lens.
During her Pinterest Presents’ keynote, Sinéad announced the creation of a special Pinterest board dedicated to accessibility available in the UK, Canada and in the US, that will provide brands and agencies with a curated collection of content and resources to advance accessibility, diversity and inclusion in their organisations and in their work.
Pinterest Premiere, the future of video on Pinterest
- Video continues to play an increasing role to inspire people on Pinterest with nearly one billion videos watched per day (source: Pinterest Internal Data, Oct 2019 vs 2020, Global).
- Pinterest users are engaging with video differently on Pinterest than on other platforms. According to a Talk Shoppe study, Pinterest users are at least 2x more likely to use video on Pinterest to discover new ideas (61% vs. 31%) and take actions (47% vs. 11%) (source: Talk Shoppe, US, Value of Video on Pinterest Study (Pinterest-funded), December, 2018), offering a unique opportunity to advertisers to use video ads to reach consumers in a positive environment as they are considering what to do or buy next. Furthermore, video ads view rate on Pinterest is 3x time higher than other social platforms (source: viewability benchmark GroupM 2020, France).
- Pinterest’s new video ad solution, Pinterest Premiere, will enable advertisers to reach their audience even more efficiently at scale on Pinterest by owning exclusive video placement on the home feed for a specific demographic, interest or category during a designated time frame. Thanks to this tiered video package, advertisers in the US, UK, Germany, France and Canada, will be able to hit their reach goals while aligning their brand with the moments and trends that are the most relevant to their audience on Pinterest.
Pinterest Trends and Conversion Insights
- To help advertisers better understand their impact and performance on the platform, Pinterest is expanding its suite of measurement tools with Conversion Insights which will be available in Q2. This new feature will give all advertisers the ability to see promoted and organic metrics in a single report, which will help them understand attribution windows and the general consumer path to purchase.
- In the US, advertisers will now have access to updated trends tools that will show actionable insights to help them optimize their performances and opportunities on Pinterest. These featured insights will not only indicate the trends that are spiking, but also the audiences behind the growth as well as providing contextualized information about past Pin performance to better understand what works best on Pinterest. Advertisers will be notified when a Pin is outperforming their previous benchmark for engagement, prompting them to promote the Pin or launch a related net new campaign.
Meet new UK Pinners : Gen-Z
- (UK) Over the past year, Gen-Z was a strong driver of Pinterest’s new user growth in the UK and Pinterest just shared new findings on how this younger demographic used the platform for inspiration during a challenging year. This new generation of Pinterest users turned to Pinterest for traditional categories such as fashion and DIY, while also creating new use-cases through engaging in historically non-endemic categories and searched for ways to navigate gaming worlds, plan their next playlists, and find the best decor for their phone.
- In the UK, Gen-Z Pinterest users are planning their next purchase on the platform by creating boards like • needs ✨•, buys, and Products to Buy (Source: Pinterest Internal Data, public Boards amongst Adults 18-24 who signed up for Pinterest between Jan-Nov 2020, UK), and are 45% more likely than the average UK internet user to say that they tell their friends and family about new products (Source: GlobalWebIndex, Gen-Zers who visited Pinterest between Q1-Q3 2020, UK). Brands around the world can reach Gen-Z consumers on Pinterest when they are in a shopping and discovery mindset, before they’ve decided what they’re going to buy and who they’re going to buy from.
- On Pinterest, Gen-Z Pinterest users in the UK also prepared their next personal and professional challenges with boards like Adventure Awaits Baby, Career development, and 2021 ambitions (Source: Pinterest Internal Data, public Boards amongst Adults 18-24 who signed up for Pinterest between Jan-Nov 2020, UK), and over half of UK Gen-Zers who visited Pinterest in 2020 say that they are adventurous (54%) and ambitious (56%). (Source: GlobalWebIndex, Gen-Zers who visited Pinterest between Q1-Q3 2020, UK).
- Gen-Z Pinterest users in the UK are interested in travel with almost 3 out of 4 (72%) of them saying that they like to explore the world (Source: GlobalWebIndex, Gen-Zers who visited Pinterest between Q1-Q3 2020, UK). The new Gen-Z Pinterest users are organizing their next trips on the platform by creating boards like Korea,Seoul trip, japan:) and South Asia Travels (Source: Pinterest Internal Data, public Boards amongst Adults 18-24 who signed up for Pinterest between Jan-Nov 2020, UK).
- Gen-Z Pinterest users in the UK care about their communities and are 40% more likely than the average UK adult to say that contributing to their community is important to them (Source: GlobalWebIndex, Gen-Zers who visited Pinterest between Q1-Q3 2020, UK). They planned to make a positive social impact by creating boards like Blood donation, Public service, and Community Garden (Source: Pinterest Internal Data, public Boards amongst Adults 18-24 who signed up for Pinterest between Jan-Nov 2020, UK).