"Pinterest hopes to crack open new opportunities for brands with the introduction of two new ad formats and a new tool for its ads manager interface, per details the company shared in advance of its Pinterest Presents summit today (Sept. 25). A new Top of Search ad format, currently in beta testing, will enable advertisers to purchase space within the top slots of search and Related Pins results. In another development, local inventory ads are becoming generally available, enabling merchants to highlight in-stock products available at nearby stores."
"As Pinterest evolves, it is becoming for younger searchers, with 39% of Gen Z consumers preferring to start their shopping searches on the platform, according to company research. Still, the platform has been somewhat behind in effectively reaching those users with ads The local inventory ads expansion builds on Pinterest's recently launched link feature, which enables advertisers to provide links to stories carrying a product, rather than requiring users to navigate to a retailer's site."
"Meanwhile, media networks will be able to share their first-party audience data, product catalogs and conversion data with advertisers securely via the new Pinterest Media Connect tool, which is accessible from the the Pinterest Ads Manager dashboard. The news arrives at a time when retail media networks continue to attract advertiser dollars. Pinterest and Instacart to make ads on former platform shoppable via the grocery delivery service. Kroger Precision Marketing is another retail media network that has partnered with Pinterest."
Pinterest introduced two new ad formats and a Media Network Connect tool to expand brand advertising opportunities. A Top of Search beta lets advertisers buy top search and Related Pins slots. Local inventory ads are now generally available to showcase in-stock products at nearby stores. Media Network Connect enables secure sharing of first-party audience data, product catalogs, and conversion data between media networks and advertisers via the Ads Manager. The updates target younger shoppers—39% of Gen Z prefer starting searches on the platform—and arrive as retail media networks gain advertiser investment.
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