
interest rolls out Promoted Video, available only on mobile
devices, to make them an even better marketing platform for brands. The
trend toward video advertising with social media platforms and the
internet in general continues with this Pinterest announcement.
According to
business intelligence firm L2,
Marketers are projected to spend $12.82 billion on internet video
advertising by 2018, which is up from $7.7 billion spent in 2015. All of
the other major social platforms, Facebook, YouTube, SnapChat,
Instagram and Twitter have already launched video ad platforms. It's
about time for Pinterest to jump in, especially considering its focus on
ecommerce.
Pinterest, being a very visual medium and already brand focused seems
to be a perfect match for video advertising. "Over 100 million people
around the world come to Pinterest every month to discover ideas to
try," said Pinterest Product Manager
Mike Bidgoli in a
post.
"One of the best tools for bringing those ideas to life is video, so
it’s no surprise this format has been popular on Pinterest. In the last
year alone, we’ve seen a 60% increase in videos on Pinterest featuring
everything from workouts and home projects to hair & beauty
tutorials. That’s why we’re excited to roll out Promoted Video."
Bidgoli noted that of the 100 million monthly Pinterest visitors, 55%
use the platform to find or shop for products, according to the
2016 Internet Trends Report.
Only 12% of people view other social media platforms as places for
ecommerce. Pinterest clearly sees its future revenue source coming from
video advertising.
Pinterest has tied Promoted Video with its Featured Pins product in
order to differentiate itself from other social platforms that are
focused on just views. "While other platforms primarily offer video
views, we've coupled Promoted Video with featured Pins below the video,"
said Bidgoli. "Now the 67% of people who say videos on Pinterest
inspire them to take action can experience your brand and then simply
click below to do more with your products and services."
Pinterest won't auto-play their video ads in a users feed, it will
first play a Cinematic Pin format that they already have to give users a
silent teaser of the marketing video. Once people tap on the Pin the
full video will open up and automatically start playing with sound.
Businesses can run video ads as long as 5 minutes, infomercial style. It
will be interesting to see if Pinterest is actually planning on the
long-form video marketing concept because of its proven success on TV of
driving actual sales. For instance, a person perusing cooking posts
could be presented with the Copper Chef ad. Well it convert as good as
it does on TV? If it does Pinterest will have discovered a marketing
gold mine.
According to Bidgoli, Pinterest will charge marketers based on
impressions of the preview Pin on a CPM basis and not just for after
click video views. Advertisers will see both the impression numbers for
their teaser gif video views, the number of clicks the teaser Pin
received, the number of times their full video was viewed at least
partially and breakdowns on how far people watched the video (25%, 50%,
75%, 100%) and how many clicks the Featured Pin under the video
received.
A
Millward Brown study
commissioned by Pinterest found that Old El Paso Promoted Video ads were
4x more memorable than a non-video ad. At launch, Pinterest has
partnered with bareMInerals, PURINA, kate spade, Lionsgate and BEHR to
proved the value of Promoted Video. "We’ve run several campaigns with
Pinterest and consider video a natural evolution on how we want to
connect with our Pinterest audience," said
Meredith Schaffner,
Marketing Manager, Old El Paso. "Our customers come to Pinterest with
high intent and the ability to show a recipe and our products through
video is a unique opportunity to drive higher performance."
Video Advertising Trend Toward Social
At
Fortune‘s Most Powerful Women International Summit in London,
Nicola Mendelsohn, VP EMEA at Facebook,
predicted
that the Facebook newsfeed will be all video in 5 years. "It will
definitely be mobile. It will probably be all video," Mendelsohn said.
"I just think if we look, we already are seeing a year on year decline
in text. We're seeing a massive increase as I've said on both pictures
and video. So yeah, if I was having a bet, I would say video, video,
video."
During Facebook's July 2016 earning call,
Facebook executives predicted their future will be video,
"We see a world that is video first, with video at the heart of all of
our apps and services," said Facebook's CEO Mark Zuckerburg. ""Over the
past six months we have been particularly focused on Live video. Live
represents a new way to share what's happening in more immediate and
creative ways."
2016 has been the year of not only more spending on video ads, but a
movement of dollars from TV to internet video, following consumers
wherever they are. In May for instance, Magna Global, which buys ads for
Johnson & Johnson, Coca-Cola, Fiat and others announced at NewFront
that they have agreed to buy $250 million in video ads from YouTube.
But that's not the story, it's that Magna is
shifting these ad dollars from its clients TV budgets.
Also at the NewFronts, YouTube
announced
a new way for marketers to take advantage of suddenly viral videos
called Breakout Videos, which is part of Google Preferred allowing
advertisers to reach the top 5% of videos created by YouTube stars.
YouTube CEO Susan Wojcicki stated, "This will allow marketers to feature
their brands alongside the next big thing".
Video is also becoming big on Twitter where tweets have
incredibly increased by over 50% since the start of 2016!
Reference:
http://www.webpronews.com/pinterest-launches-promoted-video-brands-2016-08/