What: Advertising on Pinterest comes to the Asia-Pacific market.
Why It Matters: With Pinterest’s arrival in Australia, New Zealand and Ireland through third-party platforms, the social network can begin selling advertisements in the Asia-Pacific market. This is exciting news for marketers in Latin America who are awaiting Pinterest’s arrival in the region.
Pinterest’s mission is to help people discover and do things they like. With over 100 million pins seen by more than 150 million people daily, and more than 10 billion daily suggestions delivered within the platform, Pinterest’s advertising impact is enormous. That is why every country in this region of the world eagerly awaits the big opportunity to join its advertising platform.
People visit Pinterest to find products to buy, ideas for cooking recipes, places to travel and more. This makes the platform an ideal place for brands to quickly and easily reach a highly segmented consumer market.
When will Pinterest arrive in LatAm? Pinning down the exact date is not easy, as Pinterest is still in still in a trial and error period to determine which of its customers, partners, and companies are willing to take risks, which in LatAm is sometimes complicated as companies are not prepared to invest in market testing.
According to sources close to Pinterest, the platform plans to land in LatAm by the end of 2017.
Although it sounds very far away, the truth is that regional brands need to learn from what is already being done in other markets, so that when the platform arrives they can be ready to achieve outstanding results.
One such example is the campaign run by Target on Pinterest’s U.S. site, which achieved incredible results. Adding cost-per-click (CPC) to cost-per-engagement (CPE), Target posted a click-through-rate (CTR) that was 200% higher than any other campaign running on the platform.
While these results speak to the success that advertisers in the US and the UK have had with Pinterest (for brands such as John Lewis, B&Q, Bloom & Wild, Nestlé’s Nescafe Azera, and Tesco), advertisers in Australia, New Zealand and Ireland now have the opportunity to add the social network to their pool of commercial platforms. More countries will soon be joining the platform, with Latin America at the top of the list.