Introducing Pinterest's Premiere Spotlight: A New Premium Video Ad Format for Better Advertising
Pinterest has recently rolled out a new advertising product that provides brands with access to a prominent placement for 24 hours on the Pinterest app's search page. The new ad format, called Premiere Spotlight, enables advertisers to target Pinterest users as they search for pins, inspiration, and ideas. The ads come with a short video overlaid with text and a button that opens the advertiser's website within the Pinterest app, allowing users to browse the products, add items to their cart, and check out.
The new ad format aims to capture new customers, including those who may not have previously seen the ad if they weren't among the targeted audience. While advertisers have been able to create Pins featuring products or ideas and pay to promote and target them to different audiences, the new format allows them to reach users who are not specifically looking for a product but are conducting a more general search query. Currently, 97% of searches on Pinterest are unbranded, according to company data.
The ad format is being tested in alpha, and the pricing is not yet being shared as it could potentially change between now and a more public launch. Kohl's is currently the pilot tester, and other brands interested in promoting a product launch or seasonal moments are expected to follow.
Pinterest has been working on adapting to the growing interest in video from both consumers and advertisers, shifting into video with the launch of Idea Pins in 2021, which offer creators a more TikTok-like experience. Last year, marketers were enabled to turn their Idea Pins into ads, and this year the company pushed further into short-form video territory through a new agreement with Condé Nast, which will produce 160 exclusive videos for the site from top brands Vogue and Architectural Digest.
The new ad format is expected to drive performance across the full funnel and showcase brands in a new premium, exclusive placement. With high-quality content driving user engagement, the ad format aims to increase monetization per user, particularly among Gen Z, which has become particularly fond of the service. Video ads are expected to appeal to those younger users, who are used to being inspired to shop from video elsewhere, including through TikTok, Reels, and YouTube.