Pinterest, the digital catalogue of objects, how-to, recipe and article “pins,” is offering marketers video advertisements for the first time.
“There are a lot of places where users can watch video but can’t take the next step to learn more about a product or buy it — on Pinterest, people are here to do that,” Mike Bidgoli, Pinterest’s product manager for monetization said in an interview. Bidgoli’s online shopping startup Tote was acquired by Pinterest earlier this year.
“Video on Pinterest is not just about offering marketers views, but about offering action,” Bidgoli added.
Pinterest said it charges for video impressions, but advertisers can feature pins below videos ads for no extra cost. Currently video ads have a time limit of five minutes, but Pinterest said it could adjust length eventually. For now, Pinterest’s video ads are only available on mobile, the way more than 80% of users spend their time on the site.
Pinterest said a recent study with Millard Brown showed that promoted video “performs well across a wide range of products and businesses, including food, beauty, financial services and entertainment.” The General Mills food brand, for example, found that prompted video ads were four times more memorable than non-video ads on Pinterest.