Pinterest is launching new ad tools to help with the creation of Stories-like Idea Pins, and a ‘Paid Partnership’ tool for generating profit and maximizing product discovery.
The new ‘Idea Ads’ offer full-screen, multi-page presentations consisting of custom links, so audiences can “view a brand’s inspiring content, visit their site and follow step-by-step DIYs or demos,” according to Pinterest. These ads will be displayed on users’ feed.
Additionally, Idea Ads can be promoted using paid partnership, hence helping brands create better content, and profiting creators for their skills. A ‘Promoted by’ label would appear with these ads, below the creator’s name.
Brand collaboration is a successful promotional approach on Pinterest, as confirmed by the company itself that claims brand collaborations with creators generate 38% higher brand awareness, on average, and 37% higher Pin awareness.
Speaking of brand collaboration, Pinterest’s new Paid Partnership tool is another pathway for creators to generate revenue from their creative efforts. The feature works by simply tagging partner businesses in Idea Pins, which notifies the businesses of collaboration opportunities, hence making way for formation of partnerships.
Considering the decline in Pinterest’s number of users over the past year, the Paid Partnership tool could also help in highlighting the value of Pins, and could therefore, be a significant addition to the platform.