Zoopla has announced an expansion of its ad-reach platform to now include Pinterest as well as Facebook and Google Display Network.
Having gone public last year in a 12 billion dollar IPO we are looking at whether now is the time that property marketeers should all be going to Pinterest to advertise.
What is it?
Pinterest describes itself as “a visual discovery engine for finding ideas like recipes, home and style inspiration, and more”.[i] In practice what this means is that people use the platform to share and discover images and to a lesser extent GIFs and video. This means that the audience that you are targeting is already in the market and looking for inspiration. Indeed, the stats back this up – 43% of pinners plan on purchasing their ideal home in the next 5 years and 85% of people use it to plan life moments such as buying a house, having a child or getting married. [ii] At Focus on Media, we know that these key life stages are a big driver of people looking to move house therefore as a channel it could be a key touchpoint.
Who is on it?
In the UK there are 10 million MAU (monthly active users) and this has been growing in recent years.[iii] And more than half of them have made a purchase after seeing business content on the site. The audience is wealthy, majority female and they use the platform for inspiration on major life decisions. [iv] These stats mean that there is a substantial and relevant audience on the platform who are in the right life stages and looking at moving to a new house.
How do you advertise on it?
So, if there is a relevant audience, how do we reach them? Like many other social media outlets, there are many ways to advertise on Pinterest. Like Facebook, there are multiple different formats appearing in different areas. The main ones are listed below:
- Promoted pins that appear in the feed
- Promoted carousels
- Promoted videos
- App pins (this is a recommended format as 80% of Pinterest traffic comes from mobile)
- Buyable pins – eCommerce, so shop using the pin
- Story pins [v]
There are also multiple targeting options including:
- Audiences – people that have bought from your site, engaged with your content, etc.
- Keywords – these show the ads to people that are searching for specific things. This would be especially useful to target those actively interested in property.
The key thing to remember with these is that as it is such a visual platform no matter the placement or the audience the images need to be high quality and stand out.
The audience on Pinterest means that it certainly merits a test. We will need to bear in mind that Pinterest doesn’t have the same level of data as Facebook and Google and therefore its conversion algorithms are unlikely to drive as many leads as those channels initially. However, Pinterest should perform well as upper-funnel marketing and add another touchpoint for the engaged audience. Overall, this is a channel to watch in 2021!
[ii] Pinterest Global, July 2020
[iii] Pinterest Global, July 2020
[iv] Emarketer 2018
[v] Pinterest for agencies