Pinterest’s looking to advance its in-stream shopping tools, with the addition of several new commerce features, including Product Tagging for Pins, a Shop Tab on Business Profiles and a new ‘API for Shopping’ to facilitate greater connection and integration for merchants.
First off, on product tagging – Pinterest’s adding a new type of product tagging within Pins that will add more specific product details to each item within a frame.
As explained by Pinterest:
“With product tagging, merchants can add products from their catalog to their scene images. Pinners can easily shop for the exact items they love from the inspiring imagery they find.”
So it’s like the product tags you can use now, but linked specifically to products in a merchant’s catalog.
That could make it easier to showcase specific items, and guide users on their path to purchase. Pinterest says that, in initial testing, Pinners showed 70% higher shopping intent on product Pins tagged in scene/brand images than standalone product Pins.
Pinterest’s also adding video as an option in product catalog listings.
As you can see in this example, the addition will provide more capacity to showcase your products within your Pin display, which could help shoppers to get a better idea of what the product looks like in reality.
Pinterest also added ‘AR Try On for Home Décor’ earlier this year, which uses AR to facilitate similar purpose, in providing more specific insight into how a product looks in real life. Additions like this can better supplement the eCommerce process, providing critical context to assist consumer decisions.
Pinterest’s also adding a new ‘Shop’ tab to business profiles, as another showcase of your brand’s offerings.
“With the new Shop Tab on Business Profile, merchants can easily display shoppable products to browsing Pinners. This new feature is a high-intent shopping surface, and in fact, 30% of Shopify merchants on Pinterest get their first attributed checkout from their Shop tab.”
So while you’ve long been able to showcase your products in Pins, this provides a dedicated storefront option, which also provides more options in display and presentation of your items in the app.
Finally, Pinterest is also launching its new Pinterest API for Shopping.
“Pinterest is extending its investments in shopping and measurement features, including catalog and product metadata management, to enable more efficient improved data quality for merchant products. The Pinterest API for Shopping has been shown to lead to a 97% accuracy level for price and availability data.”
The dedicated shopping API will essentially codify connection between Pinterest and retailers, which will make it easier to ensure that the correct product information is being displayed in your product Pins, at all times.
With direct connection between your product database and your Pinterest listings, the process will essentially be automated, meaning that any change in inventory or price will immediately be reflected in your Pins.
Pinterest is working hard to maximize its opportunities, after a year of mixed results in the wake of the pandemic.
Amid the COVID lockdowns, Pinterest saw a huge leap in interest, becoming the replacement shopping mall in many respects, but as physical stores have re-opened, Pin interest has waned, which has seen the platform lose 45 million active users.
But as you can see, those numbers may now be stabilizing, and with active Pinners coming to the platform with shopping intent, there’s a lot of opportunity in Pins, as a means to connect with potential customers, and tap into search interest in the app.
Shopping additions like this will further enhance that capacity, and could be highly valuable to those looking to maximize their Pin performance.
Twitter Outlines New Ad Improvements in Line with Evolving Data Privacy Approaches
With the holiday shopping season fast approaching, all of the major platforms are working to update their ad tools, in order to maximize ad spend, and boost campaign performance.
That’s become more important than ever due to the broader economic downturn, which has impacted the results at all the social apps, as marketing budgets shrink, and businesses reassess their promotional activity. As such, the holiday push will also provide a chance for each platform to showcase its capacity to drive better outcomes. And with even less data to work with, due to Apple’s ATT update, that poses a range of challenges in itself.
Which is the key focus of Twitter’s latest ad updates.
Today, Twitter has announced a new and improved Twitter Pixel for website visitor tracking, an updated Conversion API, and a new App Purchase Optimization process to help improve your Twitter ads campaigns.
First off, on its updated Pixel – the new version of Twitter’s pixel will enable advertisers to track more actions, like when someone adds an item to their shopping cart, while Twitter has also simplified the pixel integration and activation process.
“We simplified our event creation process, which helps advertisers more seamlessly set up their measurement solutions, and introduced updates to our Pixel Helper Chrome extension. This will help advertisers better understand the impact of their web campaigns and provide clearer support when checking to see if the Pixel is implemented properly.”
Pixel tracking can provide direct data insights to help inform your campaigns, filling some of the gaps left by users switching off in-app data tracking. It won’t facilitate the same data at scale, but more insight is always better, and these new pixel elements could make it easier to utilize Twitter’s pixel elements.
Twitter’s new Conversion API, meanwhile, will enable advertisers to feed conversion data back to their Twitter account, without the use of third-party cookies.
“CAPI can also help improve optimization and ad targeting without the need for a Twitter Pixel, which is the first time an advertiser can finally connect data to see conversions without placing a tag on their site.”
The new API is the first major step in Twitter’s broader effort to build for the cookie-less future, with more privacy-friendly tracking solutions to maintain, and potentially even improve performance.
The final new element is App Purchase Optimization, which will enable advertisers to deliver ads to the Twitter users that are most likely to install an app or make a purchase ‘by using machine learning to identify audiences that are more likely to take an action.
As you can see in this example, the process will utilize Twitter’s evolving machine learning tools to select the right audience for your campaigns, which could help to maximize performance.
Twitter says that in early testing, 89% of advertisers saw a reduction in cost-per-purchase.
In addition to these new updates, Twitter has also shared some more detail on its in-development ad options, which don’t have a release date as yet. But again, with the holiday shopping push fast approaching, you can bet that Twitter will be pushing to get them out soon.
First on Twitter’s ‘Coming Soon’ list is Collection Ads, which will enable advertisers to highlight a ‘hero’ image, along with smaller thumbnail previews of related products beneath. Twitter first previewed the option back in March.
As you can see in this example, brands will be able to include up to five side-scrolling images beneath the main image, with each driving consumers to a different website or product landing page, if you so choose.
Twitter says that it’s also rebuilding its Web Conversion Optimization model in order to help advertisers reach people who are more likely to convert. Meta is also focusing on similar within its broader effort to mitigate the impacts of Apple’s iOS data tracking update, with the process essentially putting increased reliance on machine learning models to optimize performance.
Finally, Twitter’s also developing a new type of Dynamic Product ads that will ‘deliver relevant products to the right person, at the right time, based on their activity both on and off Twitter’. Twitter’s current Dynamic Product Ads are based on website tracking, with Twitter able to show ads to users based on the webpages that they’ve visited. But the new format will again take a more privacy-focused approach, in order to optimize ad performance with potentially fewer signals.
These are some significant additions to the Twitter advertiser arsenal, which also signal Twitter’s biggest steps yet in moving more into line with evolving privacy tools and restrictions.
Which is a necessary development – but in terms of actual value, and how effective they might be, it’ll really come down to how good Twitter’s machine learning tools actually are, and whether the right users end up seeing your ads as a result.
If the systems work as intended, these updates could be a big boost for Twitter marketers – but if not, it could be a frustrating holiday season for those utilizing promoted tweets.
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