In digital marketing, if you're not considering Pinterest Ads, you're missing out on a massive audience of 450 million active users. The best thing about these active users is that they often use this platform to discover ideas and inspiration for their shopping needs. And being a marketer or business owner, you must target your ideal audience through ad campaigns on the platform, aiming to generate maximum revenue.
But, a significant portion of marketers running Pinterest ads overlook the potential of KPIs. They fail to analyze, track, and manage Pinterest ads KPIs effectively, leading to the unfortunate consequences of wasting both their financial resources and valuable time. To steer clear of falling into this category, take the time to explore this blog. Here, you'll gain valuable insights into Pinterest ads and discover how to effectively maintain Pinterest analytics.
Pinterest Ads, also known as Promoted Pins, are a paid feature that enables you to advertise your products, services, or content to the Pinterest community. These ads appear in users' feeds, search results, and other areas of the platform. But they blend seamlessly with organic pins on users' Pinterest feeds, making them feel like a natural part of the Pinterest experience. Here's what you need to know about Pinterest Ads:
If you're hesitating to invest in Pinterest ads, it's essential to grasp that it offers a goldmine of advertising potential. On average, Pinterest ads deliver a remarkably 2x higher return on investment and a 2.3x cheaper CPC compared to Facebook and Instagram. And it's all because of Pinterest's top-tier algorithm that enables you to target your audience precisely.
But if you want to harness the power of Pinterest advertising truly, you must actively track Pinterest Ads KPIs. Failure to do so could mean missing out on a significant opportunity to optimize your campaigns effectively. So here are some reasons one should never ignore Pinterest analytics.
With a staggering 5 billion searches happening on Pinterest each month, it's no wonder this platform is a jackpot for anyone looking to promote their products, blogs, or services. However, your success on Pinterest largely depends on how well you track and maintain your campaign statistics. Here, we present the top 10 essential Pinterest Ads KPIs that can make or break your advertising endeavors.
Impressions offer insights into the visibility of your pins. Essentially, they tell you how many times your pin is displayed to users, whether it's on their home screens, in search results, in various category feeds, or through re-pins on other pinboards. This KPI is essential for understanding the reach and exposure of your ad campaigns. A higher number of impressions indicates that your content is being viewed more frequently, increasing your potential to capture the audience's attention.
Audience involvement shows how many people are actively engaging with your Pinterest content. You can track this KPI on a monthly and daily basis to gain a comprehensive understanding of your audience's activity. Audience Involvement also allows you to determine whether you should target specific keywords more extensively or the one in use are perfect. It reflects the number of users interacting with your pins, be it through likes, comments, or shares.
The pins saved metric tallies up the total number of pins that users choose to save. This Pinterest ad KPI is a powerful indicator of content quality and user satisfaction. When users save a pin, it signifies that they find the content interesting, valuable, or inspiring enough to keep for future reference or to share with others.
For instance, you run a Pinterest board featuring home decor ideas, and one of your pins showcases a stunning DIY project for creating a cozy Pinterest reading nook. If 200 users save that pin, it's a clear signal that your content resonates with your audience. People are not just glancing at it and moving on; they're actively saving it for future use or inspiration.
After understanding your audience's interest, the next important KPI to focus on is "Clicks on Pins," which are also referred to as "Closeups." This metric reveals how much people are intrigued by your products or content. It's a key indicator of demand. Tracking this Pinterest Ad KPI is crucial because it tells you how interested users are in exploring what you have to offer.
The more clicks = the higher the demand.
Outbound clicks, formerly known as Clicks on Links, represent the total number of clicks on the destination URL linked with your pin. It's like measuring the curiosity and interest people have in your content as they want to learn more. When your Pinterest CTR is good, users are genuinely interested in exploring what's beyond the pin. You have to measure this KPI to track the effectiveness of your built-in call-to-actions.
Every day, Pinterest sees nearly 1 billion videos being watched. If you're in the business of creating video pins, you're on the right path to potentially turning casual viewers into buyers. In such a scenario, measuring and managing your video views becomes essential. It's the compass guiding you toward a successful video marketing strategy on Pinterest.
Total playback time is the complete duration for which viewers have watched your video content on Pinterest. It's usually measured in minutes. This KPI tells you how engaging and captivating your videos are to your audience. The longer viewers invest in watching your videos, the more interested they are, and this keen interest often hints at potential conversions.
To enhance your total playback time, consider these steps:
The pin engagement rate measures the overall responsiveness of your pins. It's calculated by taking the total number of interactions, which include both clicks and likes and dividing it by the total number of impressions that a particular pin receives. This formula helps you evaluate the ratio of your pin's reach or visibility to the level of user interactions it garners.
For instance, you have a pin promoting a new recipe for a delicious homemade pizza. This pin has been displayed 1,000 times (impressions), and it received 50 clicks and 20 likes. To calculate the Pin Engagement Rate, you would add the clicks and likes (50 + 20 = 70) and then divide that by the number of impressions (1,000). In this case, the Pin Engagement Rate would be 7%.
This KPI reveals what percentage of users, after clicking on a pin, promptly leave the source website without any additional engagement. In simpler terms, it measures how many users take one look at your content and then decide to leave without exploring more. A high bounce rate can raise red flags.
It might imply that the content linked to your pin is not aligning with what users expected or that the quality of your landing page is not up to mark. In some cases, it may even indicate that the pin was misleading. A lower bounce rate is generally a more favorable outcome, as it suggests that users are finding your content valuable and are motivated to explore further.
This Pinterest Ads KPI gauges the percentage of users who interact with a particular Pinterest board, often by saving a pin featured on that board. This metric is invaluable for understanding which boards are capturing users' attention and encouraging them to engage.
The wealth of information in this article equips you with the knowledge you need to make the most of your Pinterest Ads. And if you're considering leveraging a data analysis platform to optimize your Pinterest Ads KPIs, look no further than Catchr. This platform seamlessly connects your Pinterest Ads data with a range of data visualization tools, including PowerBI, Google Data Studio, and Google Sheets.
It empowers you to craft live reports and gain immediate, real-time insights into the performance of your Pinterest ads. Catchr.io doesn't stop at data integration; it fosters collaboration and data sharing across different teams, simplifying and disseminating critical KPI insights to your marketing, IT, and client-facing teams.
So, the digital marketing reports you create using Catchr.io will empower you to connect with creative individuals, delivering stunning ads right to their news feeds and ultimately enhancing the success of your Pinterest advertising campaigns.