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Do you have experience with the Pinterest promoted pins and what is your opinion?
In more details, what is your opinion in terms of CTR, CPC and their overall bidding concept?
I worked with a client pretty extensively on a Promoted Pin program a few months ago. I learned from a Pinterest account mgr that a good Promoted Pin CTR is VERY low compared to other display mediums. At the time he mentioned that a 0.25% CTR was a good goal. I assume this is because promoted pins are one of the more native social media ad formats. The highest I was able to achieve was .6%.
I remember thinking that the CPC on a website traffic campaign was kind of high; it's based on the keywords you choose as well as device placements/geographic areas/gender selections. The positive of this is that I believe I only paid for actual website clicks from targeted users meaning that I wasn't paying for Likes/Repins/Pin Expansion or clicks from non-targeted users (Clicks from a Repin). I think the benefit here is that you can get a lot of free clicks if you can engineer some degree of virality.
As far as shapes go, i found that narrow, tall "skyscraper" type pins tend to catch the eye and performed the best for me.
Thanks Noah for sharing your experience. I definitely agree with the low CTR and that with traffic campaigns you pay only for the clicks and not the engagement. I can share that the average CPC of my latest campaign was $0.85, that was not bad at all, and probably due to the fact that the promoted pins are still not a big competitive landscape.
We love them. If your audience is on Pinterest, I'd imagine you'll find success. We've been seeing great results in terms of CPA, despite the CPC being a little higher than what we expect from other similar avenues, so it would appear the traffic is high quality. I'd bet that ads here will get more and more expensive as more advertisers explore Pinterest as a paid channel.
Same observation as Noah, skyscraper images have performed best for us. We set up some audience-based campaigns the day Pinterest announced them, and have been seeing some decent results with that as well. We have several subjects we're promoting that align exactly with some of their user targeting attributes, so I'm not too surprised to see success there.
Our recent overall CPC is $0.78, and our CTR is 0.17%. We haven't updated our creative in the last month or so... I probably need to get around to doing that and working on getting that CTR up.
Great stuff! Thanks John :)
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