Pinterest is building momentum and is getting more popular with advertisers lately. With 250M monthly active users it is still well behind Facebook (2.27 billion MAU Q3 2018) but is growing faster than Twitter and Snapchat combined. You can read more about Pinterest growth numbers on SocialMediaToday’s latest blog post.
I’m a big fan of Facebook Ads, and I remember like yesterday how low CPMs were when there was only RHS ad format. Do you remember the 100x72px dimension? 🤔
The fact is that Facebook is becoming more and more expensive and after the Facebook–Cambridge Analytica data scandal, Facebook is banning ad-accounts like never before. If you are an affiliate marketer running black-hat offers on Facebook, you’re having a hard time lately. It’s a cat and mouse game, but Facebook is acting more like a tiger these days. 🐯
As an affiliate marketer, I’m always looking for new traffic sources. Out of curiosity, I decided to copy one of my winning lead-gen campaigns from ExoClick/Popunders to Pinterest. The offer was for Australia, SOI with $2.3 payout.
After that one small campaign, I noticed the potential of this underestimated advertising platform and spent the past few months working with Pinterest on a daily basis.
Because I couldn’t find great content for Pinterest advertising, I decided to share some of my tips for which I believe will help a lot with your first Pinterest Advertising campaign. If you need inspiration for Pinterest ads check this post.
TIP #1: Too Low Bid in Not Too Low
The first thing you probably notice is high CPC bid on the ad-group settings level.
A bid of $1.85 or higher will be the most competitive at auction. You only pay for clicks to your website.
CPC of $1.85 is expensive, especially when you’re testing and learning the ropes with a new traffic source. With max CPC you will get top positions but in most cases, this also drains your budget in no-time.
There are four indicators that tell you how much you’re bidding against other Pinterest advertisers.
Strong Bid, Good Bid, Low Bid, Too Low
If you bid $0.12 where the max CPC is $1.85 you will probably get the Too Low indicator.
However, the thing is that doesn’t mean you won’t get traffic. You will get enough traffic to test in your offer. I checked this is all countries that are available on Pinterest at the moment (United States, Canada, United Kingdom, Ireland, France, Australia, New Zealand) and never had an issue with volume except in Ireland because it’s a small country with only 6M population.
So before you start bidding high, run the campaign even if Pinterest tells you that the bid is too low.
TIP 2: Be Careful With High CPC Bids
This one is straight-forward. If you bid high (Strong/Good bid) you can spend your daily budget super-fast. At the time of writing this post, I can say for sure that Pinterest’s’ ad pacing algorithm is not working OK.
A high bid on broad targeting will eat your budget before their system refreshes the number in the reporting dashboard. 😃
When experimenting with bids try to use Google Analytics Real-Time tracking or a Performance Marketing Tracker like Binom. You can see in real-time how much traffic you are receiving and adjust the bid accordingly.
In my first attempt, I spent $300 in like 30 minutes, and I didn’t even know.
TIP 3: Get Cheap Traffic With Sub-Topics
If you’re in e-commerce business selling beauty, health or fashion related products that you need to try Pinterest.
At the moment there are 24 broad interests and 243 sub-topics you can select when building up a campaign.
If you select only the Beauty interest, which includes all sub-topics, you get a max CPC way above $1. However, if you check what’s the max CPC bid is for each sub-topic in that interest you will probably find some of with really low max CPC and still plenty of traffic available.
TIP 4: Monitor Closely, Reporting Is Still Buggy
Yep, that’s right. Even huge companies like Pinterest have abuggy version in production.
When your campaign is running, and you’re monitoring spend together with other metrics, you see a different value for ad-spend than if you check the Campaigns tab or Ads Tab. There is a massive delay on the Campaigns tab and when testing bids this can play a huge role.
So monitor your ad-spend on different levels, and the one with the highest value is probably the right one.
Although, I’m not sure if this is a bug but it’s annoying, and I’ve lost some money because of it. 🐛
TIP 5: Install Pinterest Tag As Soon As Possible
I’m doing paid advertising for 8 years now, and campaigns with the highest Return-On-Investment are usually retargeting/remarketing.
If you’re familiar with Facebook or Google advertising then you probably know how Facebook/Google’s Pixel works. Pinterest’s Tag works pretty much the same.
You can create an audience on Pinterest based on 4 different groups:
- Visitors who went to your site
- A list of customers that you upload
- An engagement audience that engaged with pins from your confirmed domain
- An actalike audience that behaves similarly to one you already have
When I know I have a proven offer and funnel, I setup a Pinterest retargeting campaign at the same time as I do the regular one.
Install the Pinterest Tag as soon as possible and start building your audience. Retargeting campaigns usually don’t have a huge volume at the beginning, but they do have a huge ROI.
PRO TIP: I found the best success with a testimonial-style copy for the retargeting campaign. Right now I'm experimenting with video, but it's too soon for any conclusions.
If you need help with your Pinterest Tag check the page below where you can find detailed instructions. Alternatively, if you have some specific questions, please write them it in the comments, and I will get back to you as soon as possible.
I believe these tips can save you some time and money with Pinterest.
Is there any Pinterest related topic you would like me to write in more detail? Let me know in the comments!
Till next time,