Fresh off the back of its latest earnings update, Pinterest has also announced a new partnership with Amazon, which will enable Amazon advertisers to expand their campaigns to Pinterest, via an integrated presentation and purchase flow process.
As explained by Pinterest:
“As user engagement with shoppable content on Pinterest continues to grow, we’re pleased to have selected Amazon as our first partner for third-party ads. The partnership with Amazon will bring more brands and relevant products to the platform combined with a seamless on-Amazon buying experience for consumers and offer advertisers strong performance.”
It’s the first element of Pinterest’s planned expansion of its ads offering, which will open up more opportunities for brands to find new opportunities in Promoted Pins. And with 463 million monthly active users, each coming to the app in a discovery and purchase mindset, it could be a valuable addition for a range of brands who purchase campaigns through partner apps, which could meaningfully boost Pinterest’s revenue potential.
Which it definitely needs. Pinterest’s Q1 update showed a slowdown in revenue intake, despite a steady increase in users.
That’s largely reflective of broader economic conditions, but it still puts more pressure on Pinterest to improve where it can, and opening up its ad platform to more partner providers could be a good way to do just that.
Because despite its presence, Pinterest still often feels like an afterthought for social media marketers. Facebook is the big one, then Instagram, and now TikTok, but after that, most of the others are less of a priority, and may not get the same consideration as a result.
Again, Pinterest has 463 million users, who come to the app ready to buy. By presenting this as an option to Amazon merchants, and eventually, other ad network partners, that could get more businesses looking its way.