Pinterest is constantly growing and trying to adapt new business ways to reach its marketing goals.
Pinterest has added marketing measurement and data vendors to its already existing Marketing partners. Last year in April 2015, Pinterest introduced Marketing Developer Partners Program. This program came into existence as a way to open up its automated tools to buy ads and post content on its platform. Earlier only a certain group of companies were approved for this process.
At present, more than half of Pinterest’s ad revenue is drawn from brands buying its ads from its approved marketing partners; just one and a half year of launch of the MDP program.
The new addition of measurement and data vendors is to make more money. The social network is lending more control to advertisers so that they can manage how the money is being spent and what are they being paid in return of it.
Pinterest will now let advertisers use the third party tools so that they can get to know whether their ads were shown to the target audience or not. They can also track the response and impact the advertisement had made on people’s perception of a brand and how much product sales are affected with it.
In the Marketing Program, the addition of measurement companies like Tune, Kochava, Apsalar, Appsflyer and Adjust is made. But only those brands which are using Moat will be able to measure that whether their ads have a chance to be seen or not.
Companies like Acxiom’s LiveRamp, Epsilon, Experian, mParticle, Neustar and Salesforce’s Krux will be able to receive a brand’s data such as a list of customers with their email ids. They can use this data to aim ads on Pinterest to those customers which show similar characteristics. With the help of this advertisers can even apply their own data while implementing targeting ads strategies.
The new addition in the Marketing Developer Partners Program is introduced so that advertisers can reach more customers with the help of ads displayed on Pinterest.