Pinterest has put their newest feature into literal motion with the release of Promoted Videos. Now, businesses and Pinners alike can get ready to set sail on an unprecedented journey of consumer engagement.
In case you haven't heard, Pinterest is testing the new sea of mobile video marketing waters by offering businesses the ability to promote their brand via how-to's, demos, and sneak peeks. But the real wave rider here (and as shown in the example above) is that Pinterest's new video option enables businesses to combine related, easily accessible pins to support their video content, all in one place.
Early testers have shown promising results, with major brands like General Mills' "Old El Paso" reporting significant lifts in engagement metrics, including higher completion rates and a 4x more memorable impression than non-video ads.
The team at Pinterest have really made this feature a business treasure chest, offering pearls at every turn. For instance, videos only play as you're scrolling - when you stop, the video stops. Just like their Cinematic Pin predecessors, viewers can't camp in their home feed and enjoy your video content. To get the full benefit the viewer has to click, which means at the very least you get a measurable impression.
One of the most unique features of this rollout is Pinterest's native video player - no site redirection necessary. Once a Pinner clicks on the video, not only will they get to view and hear the video in its entirety, but also be exposed to six additional related pins displayed right underneath. Businesses can handpick those pins instead of relying on an algorithm of suggestions, which gives a company even more ways to leverage the tool.
When it comes to Promoted Video pins, Pinterest analytics paint a pretty clear picture: They track the number of impressions, number of video views (including the percentage of the video viewed), and the number of clicks your video generated. Like any marketing campaign, you'll need to track your progress so you'll know where to tweak along the way, and your Pinterest analytics dashboard couldn't possibly make that task any easier.
So the next big question is "what's it going to cost?"
Just like the Promoted Pins, which were, introduced last year, you'll have the option of paying on a CPM basis: You bid on a cost-per-thousand impressions and Pinterest will optimize how your ad reaches people. Most people set this around $15-$20.
An impression in this case will be anytime a viewer sees your Video Pin, even if that person never clicks to view your video. You can also set the maximum number of times an individual will see your campaign, so you won't waste impressions on too many repeat viewers.
But bands will need to be prepared to flex their budget muscle - as Ad Age tells us Promoted Videos require a minimum investment of $500,000.
Ready to dive in?
Before you call lights, camera, action for your next brand video, you'll first need to set up a Pinterest Business Account. Only a business account gives you access to features like Promoted Videos, Pin analytics, Promoted Pins, and Buy Now functionality.
If you're new to the platform, take time to craft your Pinterest-specific brand. Check out the best practices and FAQs, learn the lingo, build some boards, garner a following, and fully immerse yourself in the Pintereverse. The more you know about how Pinterest works the better you can leverage the features.
Once you've gotten your business account established and you're ready to promote your videos, you'll need to reach out to a Pinterest account team who'll direct you from there. Currently, only businesses in the US and UK working with an account team can take advantage of Promoted Video pins.
If you're not quite ready to make the monetary commitment, you can still benefit from some form of video capabilities within Pinterest. After you've established your business account, you can share your video content as regular pins, though you lose the functionality that accompanies the Promoted Videos. Your video will appear organically as a static image in a news feed and won't feature your handpicked content underneath.
As the social markets continue to shift, it looks like video is here to stay. Early adopters of social media trends have tended to see bigger benefits than bandwagon fans, but like with anything, it simply takes time. So stay engaged, do your homework, but don't wait too long to take action - you could end up missing the boat altogether.