LONDON: Retailers John Lewis, Tesco and B&Q are among the UK brands that have signed up to advertise on Pinterest as it makes its Promoted Pins available outside the US for the first time.
The visual bookmarking site has been offering this product in the US since January last year and Ben Silbermann, Pinterest chief executive and co-founder, indicated that it would be extended to other English-speaking markets later this year.
"Wherever that organic behaviour exists of people coming and trying to discover ideas for themselves, saving them and planning their future, we think there's value for advertisers that comes right behind that," he said.
"We have lots of work to do but I've been really happy with the results so far, and I think the early advertisers have also been really happy."
According to Digiday, what is on offer is becoming increasingly sophisticated. Having obtained a pitch deck it reported that Pinterest "is going after big-money brands with a full suite of ad offerings", including better targeting and new products like coupon promotions.
For now, however, brands in the UK will be focused on exploiting Promoted Pins. UK country manager Adele Cooper pointed out that 75% of content on Pinterest already comes from brands so people are expecting to engage with branded content.
She described Promoted Pins as "a native ad but with the same content as regular pins and so engagement rates are virtually the same.
"Plus the hide rate is 90% lower than on other social platforms," she added.
Pinterest has seen strong growth in the UK recently and now claims 10m monthly active users – a 50% year-on year increase – who show a particular interest in DIY and recipes.
Data sourced from Financial Times, Digiday, Marketing Week; additional content by Warc staff