Its been quite few months the promoted pins program was launched in beta with selected brands giving the medium a trial run. Now, as of January 1, any businesses wishing to advertise on Pinterest can opt for it. All the promoted pins look like regular pins but designated with a special ‘promoted pins’ tag.
Pinterest ad chief Joanne Bradford wrote in a blog post that the site’s tests have revealed that promoted pins work as well or better than organic pins. She added, "Brand advertisers achieved about a 30 percent bump in earned media (free impressions!) from their campaigns. That’s from people who saw a Promoted Pin and thought it was good enough to save to one of their own boards. Engagement is strong— the average Pin is repinned 11 times, and that remains true for Promoted Pins (if not higher).”
Pinterest will also launch Pinstitute which is a new program for businesses to learn how to connect with pinners. She explained, "The Pinstitute will focus on two tracks: creative and measurement. You’ll learn what kind of pins perform well, what pinners care about and how we’re thinking about our products in the future. We’ll also get your feedback on what you’d like to see us do so we can help you get even better results from Pinterest.”
Pinterest plans to invite a “select group of brands and agencies” and the first Pinstitute has been set for March. Webinars will go on air once the Pinstitute agendas are all set.