Pinterest is Rolling out a 'Promoted Videos' Feature for Advertisers
References: business.pinterest & techcrunch
Most social media platforms are now offering some type of system for advertisers to get promoted videos in front of users. With more than 100 million unique visitors every month, perhaps it was only a matter of time before Pinterest got on board with that revenue stream as well. The image-based discovery platform is doing just that, introducing its new 'Promoted Videos' feature today with a post on its blog.
While Pinterest, in its earlier days, was mostly for image-sharing, Pinterest now hosts more and more videos. As such, the company felt that an attempt to monetize that new form of communication on its platform would be a savvy move.
The Pinterest Promoted Videos feature is clever because, unlike other social media sites that simply encourage users to continue scrolling, Pinterest has a DIY and maker ethos that encourage its users to act and, potentially, purchase.
While Pinterest, in its earlier days, was mostly for image-sharing, Pinterest now hosts more and more videos. As such, the company felt that an attempt to monetize that new form of communication on its platform would be a savvy move.
The Pinterest Promoted Videos feature is clever because, unlike other social media sites that simply encourage users to continue scrolling, Pinterest has a DIY and maker ethos that encourage its users to act and, potentially, purchase.
Trend Themes
1. Promoted Social Media Videos - Social media platforms are integrating systems for advertisers to promote videos, opening opportunities for brands to increase engagement and reach.
2. Image-based Discovery - Platforms like Pinterest are incorporating more images and videos to maximize engagement and encourage users to take action, creating opportunities for new art, design and marketing strategies.
3. Monetizing New Forms of Communication - Platforms like Pinterest are monetizing new communication features such as video to create new revenue streams and engage users in new ways.
Industry Implications
1. Advertising Industry - More social media sites are offering promoted videos opening doorways for the advertising industry to market their products and services more effectively.
2. Social Media Industry - The increase of video infrastructure in social media platforms is creating opportunities for content creators and influencers.
3. E-commerce Industry - Platforms like Pinterest have increasingly become about making purchases. More videos on the platform equal greater opportunities for e-commerce and retail industries to reach consumers there, shift more focus on brand discovery and grow the business.
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