Pinterest

How Much Does Pinterest Advertising Cost in 2022?

8 min read

Back to Articles

How Much Does Pinterest Advertising Cost in 2022?

There’s nothing more soothing than scrolling through Pinterest, looking at all the perfectly tailored images. But what if your brand was part of the mix? While Pinterest isn’t the first platform you think of when you hear “social media advertising,” it can be a solid option for brands looking to reach certain demographics. Perhaps one of the biggest advantages of advertising on Pinterest relates to its competitive pricing. Read on to learn more about advertising on Pinterest in 2022. 

What Is Pinterest and Who Uses It?

Pinterest is a unique inspiration-exploration app that effectively combines the features of a social media platform with those of a search engine. Pinterest describes itself as a “visual discovery engine” that helps audiences find creative and practical inspiration, ranging from recipes and home decor, to fashion and party planning. 

Pinterest allows users to search for “pins” and then save them to “boards” under different categories. You browse through different pins with eye-catching visuals before clicking on the pin for more information or a link to an external website. For example, you could have a wedding board, a baking board, and a crafting board. Saving pins to boards allows you to easily access them later on or even create an “inspiration board” chock full of beautiful pictures to inspire creativity. 

While Pinterest isn’t as well-known as other platforms, it still has a huge user base with over 433 million monthly active users–more than half of them pinning away in the United States alone. That said, the platform continues to expand beyond the borders of the United States, with 363 million interactive users, as of 2021. 

Pinterest is a great platform for brands to use if they’re trying to reach women customers, as over 70% of Pinterest users are female. More specifically, mothers tend to use this platform, with 80% of internet-using American mothers leveraging Pinterest. In terms of age, 34% of Pinterest users are between the ages of 18 and 29, while 35% of Pinterest users are between the ages of 35 and 49. 

Based on this information, if you’re looking to target high-income 30-something American mothers, Pinterest is a wonderful social media platform to tap into for product discovery and growing your business.

Why Advertise on Pinterest?

In addition to attractive demographics, Pinterest offers myriad benefits to consider:

  • In 2021, Pinterest generated over $2 billion in advertising. 
  • 97% of all searches on Pinterest are unbranded–giving you an essentially untapped opportunity to get your branded content out there product-seeking shoppers to see. 
  • Shopping is a top priority for 48% of Pinterest users, more so than other social media platforms where users aren’t as ready to shop.
  • 50% of Pinterest users have made a purchase after seeing a promoted pin that aligned with their interests. 
  • Pinterest is largely seen as a platform for discovering new brands and trying out new products. 
  • Pinterest is particularly popular during specific times of the year, like Valentine’s Day and Christmas. If you have a seasonal business, Pinterest is an ideal advertising solution. 

Different Ways to Advertise on Pinterest

Pinterest is a diverse platform that offers several different formats for advertisers to utilize. We’re going to break them down for you so that you can choose the right approach for your brand:

  • Image: This ad format involves showcasing your products and content in a vertical or square image format. 
  • Video: This ad format involves eye-catching graphics to better engage viewers and provide them with more information about your brand and products. 
  • Shopping: This ad format involves showcasing specific products by converting them into pins and allowing users to shop that exact product on your website. 
  • Carousel: This ad format involves combining multiple different images that viewers can swipe through to learn more. 
  • Collections: This ad format involves combining video content with product images to show a real-life application of your products. 
  • Ideas: This all-new ad format features multiple pages of video and image content, created natively on Pinterest to tell a story and inspire Pinners.

Cost of Advertising on Pinterest

So you know all about the benefits and types of advertising on Pinterest, but how much does it cost? The cost of advertising on this platform depends on your campaign goal. There are four different goals to choose from: building brand awareness, boosting engagement, increasing web traffic, and sales / conversions. 

You can expect to pay between $2.00 to $5.00 per thousand impressions (CPM) if you’re trying to build brand awareness. Boosting online engagement will cost you anywhere between $0.10 and $1.50 per engagement. Driving web traffic will also cost you between $0.10 and $1.50 per engagement. Finally, conversion-based campaigns command between $6.00 and $10.00.

Pinterest advertising, like other social media platforms, utilizes a bidding model for ad placements. This means that you bid against other competitors for specific keywords and placements. As a result, your advertising costs will vary depending on how much competition you’re dealing with. 

For example, say you’re a premium furniture brand looking to boost conversions. This would be a very popular search on Pinterest, and as a result, you can expect to spend around $10 CPM. On the other hand, if you’re more of a niche brand looking to advertise on less popular searches, you could end up paying around $6 CPM.

Pinterest Advertising Best Practices in 2022

In order to take advantage of this unique platform with its visual searches and competitive advertising options, you need to follow a few best practices to ensure that your content is appropriate and effective:

  • Really focus on your visuals since it’s the entire basis of the app. Quality, lighting, and resolution are styling elements to prioritize. 
  • Use the rule of thirds, where you divide your images into thirds across the vertical and horizontal axis for more visually appealing content. 
  • Hone your messaging. Short blurbs should give users basic information about your brand and leave them wanting to learn more. 
  • Write detailed descriptions for your pins that utilize keywords and hashtags so that they’re easily searchable. 
  • Continuously track the performance of your ads through Pinterest’s analytics. Different data points include impressions, saves, clicks, and likes. Take note of campaigns that are under-performing and make any necessary adjustments to get back on track. 

Using a Pinterest Advertising Agency for Increased Success

If you’re really looking to improve your Pinterest game in 2022, you should consider using a Pinterest ad agency. Even though Pinterest offers an easy-to-use advertising platform, the competition is heightening and more and more new features are rolling out that have not yet been mastered by brands. 

That’s where a leading performance marketing agency like MuteSix comes into play. MuteSix helps brands scale with omnichannel creative and media buying strategies optimized by advanced measurement solutions for record-breaking results. When it comes to handling your Pinterest advertising, MuteSix can help you leverage best practices across all of the platform’s offerings, run eye-catching and compelling ads, and scale profitably and efficiently by leveraging the most advanced performance data solutions. 

MuteSix is a full-service agency that will handle all the work from start to finish. We begin with an audit and analysis of your existing campaigns and creative, as well as your industry. From there, we focus on robust creative development and testing to help your content stand out amongst the highly tailored and visually-appealing content found on Pinterest. Next, we test different targeting mechanisms to ensure that your brand is reaching the right audiences with the right content to achieve the best possible results. Finally, we optimize, iterate, and scale to drive business growth both on Pinterest, and across all other channels in your omnichannel advertising mix. 

We have dedicated experience and expertise on this platform, and have helped our clients drive massive success. Take our client GDFStudio, for example. We formulated a cost-effective strategy for the homegoods website to exponentially boost revenue in the wake of stiff competition within the furniture vertical, as well as rising advertising costs across other Paid Social platforms. 

By leveraging Pinterest best practices, MuteSix was able to exponentially boost revenue for GDFStudio to the tune of 1,235% in just four months. Of note, we surpassed business goals by honing in on top-performing targeting and creative to effectively scale the account, while seamlessly integrating Pinterest advertising efforts into a full-funnel, omnichannel solution. 

This is just one example of how we can make Pinterest work for you. For more Pinterest success stories, check out our client case studies and testimonials. 

Conclusion

As you can see, Pinterest is an economical advertising solution that should be part of your omnichannel marketing mix in 2022. This is a less expensive–yet highly effective–method that allows brands to avoid much of the competition seen on larger platforms like Facebook and Instagram, and the higher costs of advertising that come with it. 

Just because Pinterest is a smaller platform doesn’t mean that brands should dismiss it or take their advertising efforts on it less seriously. Instead, brands should invest in their Pinterest advertising by partnering with an advertising agency that can implement best creative and media buying practices to drive the best possible results and return on investment. 

Sources:

1. https://business.pinterest.com/en/advertise/

2. https://www.entrepreneur.com/slideshow/303471

3. https://www.forbes.com/sites/forbesagencycouncil/2017/10/06/tracking-your-marketing-efforts-why-its-important-and-how-to-start/?sh=7ee8951631e8

Interested in Working Together?

Let’s Get Started



Other Articles You May Enjoy