With millions of dollars being invested in eCommerce enablement, discovering new channels to stimulate lower funnel activity is top of mind for marketers engaging in advanced online media strategies. As we lock in our agenda for IAB Canada’s eCommerce event on September 22, 2021, we are excited to confirm that Pinterest will be joining the conversation. This week we caught up with Pinterest Canada to get some insights on the general direction Pinterest has taken in the space and to get a sneak peek at what we can expect to hear from them on the 22nd.
IAB Canada (IABC): We’re excited to have Pinterest participate in our eCommerce event next week. We’ve seen a lot of interesting developments coming out of Pinterest over the years, can you talk a bit about the journey the platform has been on?
Pinterest Canada (PC): Our mission is to bring everyone the inspiration to create a life they love. Now more than ever, people need inspiration and Pinterest is a place where they go to plan their future, and make decisions about what to do next.
With over 13.5 million Pinners in Canada (ComScore), we are seeing people turn to Pinterest to help plan for the future, whether that’s thinking ahead to planning for the holiday season or a big life moment.
With a focus on ecommerce, we expanded our shopping features in Canada. Pinners will now be able to have access to a frictionless shopping experience anywhere on the platform — right on a Pin, from your board, from search, or the shop tab on Lens camera.
Our focus is on building the most positive and inspiring place on the internet where advertisers and creators can provide actionable and inspiring content for these users.
IABC: How big a role does imagery play in the commerce story? Are consumers drawn to photos and videos as bottom funnel, awareness, consideration, or all of the above? Any insight into why?
PC: At Pinterest, we believe the difference between shopping and buying is inspiration. 66% of people say that inspiration is critical to helping them decide what to buy. We’re reimagining what shopping can be in an ecommerce world — it’s visual, personal and actionable.
What’s unique is that our users are coming to Pinterest before they’ve made a decision as they begin planning for the future, which gives advertisers a unique opportunity to reach people while they are in the decision-making process no matter where they are in the funnel. The natural progression of a Pinner’s discovery journey — from inspiration, to planning, to action — takes them down the full purchasing funnel, and businesses can provide value every step of the way.
In fact, 97% of top searches on Pinterest are unbranded. This means the majority of consumers are not typing a brand name into their searches and that businesses of any size have the chance to be discovered and to make an impact.
IABC: Do creators make a difference on Pinterest when it comes to converting sales? What about promoted pins?
PC: As a platform where people come to get inspired, our creators have the ability to build and grow their audience in a positive environment. We recently launched new ways for creators to build their business and earn money on Pinterest. We know that many of our creators are individuals and small businesses who make a living monetizing their audiences. That’s why we launched the Paid Partnerships tool that allows creators to partner with brands on sponsored content. Creators will be able to disclose their paid partnerships that were agreed upon off Pinterest with this tool.
We’re focused on building a creator platform centered on inspiration over influence and entertainment. With these latest updates, Creators can make their content more actionable and shoppable, and easily partner with brands.
IABC: What are some of the most exciting future developments that you can share with us?
PC: We are looking forward to our brand new Pinterest Canada headquarters coming in Spring 2022. We recently announced that we are expanding our Toronto office and will be hiring over 50 new positions across our engineering, sales, insights, and marketing functions. The Toronto office has also been named Pinterest’s first engineering hub outside the US and will grow to include approximately half of the company’s shopping engineering team.
We are looking forward to September 22 where we will further explore the latest technology solutions, data strategies and creative that converts as we move towards a frictionless commerce future. Registration is free for IAB Canada members and tickets are available here.