Time to learn about Social Media Marketing: Chapter 8
In Chapter 8 in "Essentials of Social Media Marketing," I learned how businesses can use Pinterest to advertise their business. Some topics that they discuss on how to advertise are by targeting, using ad objectives, different ad formats, using a bidding system, and measuring ads. For targeting on Pinterest there are a couple options that businesses can use from automated targeting, demographics, interest targeting, keyword targeting, customer lists, and actalikes. Businesses can use these targeting strategies to gain more results from their customers. With Pinterest, businesses can use ad objectives to determine how advertisers bid in the auction and what ad formats are available to promote. Advertisers have the ability to choose from the following objectives which are building brand awareness, driving consideration, and getting conversions. The goal selected determines how Pins get delivered and what brands pay. Furthermore, Pinterest has different ad formats for businesses to use from like standard which is a square image, video, shopping which converts products Pins into ads, a carousel that uses up to 5 images for pinners to swipe through, and collections are displaying products with an ad format that mixes lifestyle imagery and video. These different ad formats will help businesses have more engaging content for their customers. Pinterest does use a bidding system to include what a brand is willing to pay for the desired action such as a click or impression. There are two types of bidding which are custom bids and automatic bids. Custom bids are brands that set a maximum cost per click (CPC) bid for someone to click on the promoted pin. Automated bids are managed by Pinterest and are updated automatically several times a day. This can help businesses spend their budget and make revenue at the same time. Lastly, Pinterest has an ad manager that allows advertisers to track and measure ad viewability, audience verification, impressions, engagements, brand loyalty, consideration, and more. This feature will let businesses see the analytics for their actions on Pinterest. Overall, I think that these features for advertisement are beneficial for businesses if they are looking for a way to make more revenue and to reach their consumers.
Pinterest is not your typical social media account, but it is vital for businesses. Ever since I was a kid, I remember my mom planning our birthday parties off of Pinterest ideas. She could find everything that she wanted on there. When my little brother was turning three, I created a 300 pin Monsters Inc. board for his party. We had every element, including the napkin setup, planned. When starting a small business, Pinterest can be a great tool to create awareness and draw in customers. It is so easy to be sucked into the app for hours on end, but that is only an advantage for businesses.
ReplyDeleteI never thought of Pinterest as a business platform, it seems more of a social app. I never even knew it had a bidding system until I read the chapter. I have not and do not know anyone who has bought anything from Pinterest. I simply use it as a relaxation app that I find wallpapers, tattoo ideas, and memes. I can now see how important it is to certain businesses.
ReplyDeleteThis chapter has really opened up my eyes on Pinterest. There is so much more to the platform then I ever imagined.
ReplyDeleteI've never experienced Pinterest before this week, but it's been kind of interesting to learn about. I have a feeling Pinterest is going to get even bigger due to the uniqueness of their platform!
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