Pinterest aims for products from the store down your street as its next big ad business

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Pinterest is known for having, and promoting, a lot of business content. It’s actually a majority of the content, and it’s usually from some of the most well-known brands that feed into the kinds of sometimes dream-level wants and needs of its users.

And while a majority of Pinterest’s potential is locked up there, the company has increasingly turned its gaze toward smaller and smaller businesses to try to entice users with local content — including that clothing store right down your street. That’s part of the reasoning behind Pinterest’s Propel program, which it started a year ago to work with small businesses that really either didn’t know what they were doing, or had just never done it before. In another step toward that goal, Pinterest has hired Matt Hogle to be the global head of small business.

Hogle spent 9 years at Facebook, working with small businesses and will be part of the effort for the company to try to find the right set of tools and strategies in place to appeal to small businesses as it starts to ramp it into a significant portion of its revenue. The number of small businesses advertisers on Pinterest has increased by around 50% year-over-year, the company said, and it looks to continue to refine a kind of hybrid strategy that mixes platforms and interactions with real people in order to entice those businesses. That’s important for, say, a local clothing store that only has one store and a limited online shop, but has products that would perform well on their own as content on Pinterest — and could quickly add revenue if they started advertising on it.

“We, as an ads business, know what customers’ business objectives are, and we capture that at the early stages,” Pinterest head of global sales Jon Kaplan said. “We know what they’re targeting, how they’re targeting, who, and we know the creative best practices. We should be able in the very near future to take all these elements and say, oh this is your objective, we’ll obfuscate all this complexity and hit a target [return on ad spend] you have. We’re not far. We’ve obfuscated a lot of the levers one can pull in Propel.”

Propel, for now, is adopting an increasingly popular human/digital approach for smaller businesses that are looking to advertise for the first time on Pinterest. If they have no experience whatsoever, or don’t even know what to do, Pinterest’s goal is to serve as a resource for best practices when it comes to creative content down to where to target it. Pinterest is increasingly rolling out more self-serve tools with more robust targeting and tracking, but the kind of small businesses — the sum of which could eventually account for a big chunk of its revenue — that Facebook has snapped up with the prospect of getting in front of the exact right people at the right time. The company says it will be rolling out the “promote” button, which allows advertisers to click a button on a pin to quickly spin up a campaign, to Australia, Canada, Ireland, New Zealand and the UK in the next coming weeks.

In the end, Pinterest still has 200 million monthly active users, which is absolutely dwarfed by Facebook’s billions of users. But at the same time, Pinterest may be able to capitalize on the good will that Facebook has torched in light of its massive privacy scandal in which information on as many as 87 million users ended up in the hands of a research firm without authorization or permission. Facebook can prove a return on spend, but it can’t at the moment prove that it’ll be able to keep doing the same things that get that return on spend now that the Internet is revolting against Facebook for its massive breach of trust. (Hogle, to be clear, joined before details on the Cambridge Analytica scandal began pouring in.)

Pinterest’s value to advertisers is that it’s able to capture a potential customer when they are just a user clicking (or tapping) around Pinterest looking for ideas. Whether planning life events or just looking for wardrobe suggestions, Pinterest is able to go to advertisers and say they can catch them in those discovery stages and then stick the right ad in front of them to get their attention. Then, the service can follow the user all the way from when they are actually interested in doing something, searching for what to do, and eventually saving that product — or buying it.

It’s that potential value for advertisers that’s taken it to a $ 12.5 billion valuation in its most recent financing round. But while Pinterest is probably still a sort of curiosity buy for larger advertisers and brands, the challenge has been to chase down the businesses that don’t have huge marketing budgets and might not even be considering Pinterest as a potential advertising platform. After all, the playbook for Facebook is robust and there are plenty of success stories, and the same is true for Google. But at the same time, that bespoke coffee shop down on Valencia Street in San Francisco may have products that line up perfectly for a Pinterest user that’s looking for a holiday gift down the line.

“Over the coming nine months, into 2019, I think we’re gonna continue to invest in ways that make it easy for our small businesses to grow with us,” Hogle said. “Small businesses are unique in the sense that they don’t have the time or energy or resources — the CEO might also be the HR person and the marketing person, and so on. We need to make it extremely lightweight and seamless. At the end of the day, if we can’t provide value and deliver on the money they spend with us and demonstrate the value that’s created there — sales being that number one performance indicator for these companies — then we’re failing. The things we’re gonna continue to build are ways to make that process as easy and seamless.”

“Small businesses add disproportionate value to Pinners and our ad ecosystem,” Hogle said. “I truly believe that small businesses are part of the fabric of every community, they’re the engine that drives every economy around the world. Their relevancy, category or vertical, or proximity to consumers creates disproportionate organic value to Pinners and also creates disproportionate commercial value. Our goal is to show the people the most relevant ad they possibly can based on what they’re trying to accomplish. We can’t do that if we do not meet the needs of the vast majority of businesses that exist. It is a strategic decision, but it’s not just one that goes into paid ads, it creates disproportionate value for the entire platform and ecosystem.”

Hogle’s conversations started mid last year with Tim Kendall, Pinterest’s former president who left in November last year. What started as an exchange of ideas turned, as these conversations often do, it discussions about a potential job at Pinterest, and finally months later he ended up joining to start helping with the company’s small business efforts. Pinterest is increasingly looking to staff up with a suite of executives that will help it get its business in order ahead of a potential IPO. That includes a new COO, Francoise Brougher, who joined in February from Square.

But if Pinterest is going to eventually go public, and get its employees and investors paid out for their efforts, it needs to show that it can be a business that’s beyond just a curiosity budget for a big brand. Getting small businesses on board, like the ones Hogle looks to capture that are right down the street, are a big part of what the company hopes will eventually show that it has a diversified revenue stream and not beholden to just the big and potentially fickle budgets of larger brands.

“Our ad platform is not very old by industry standards, but the rate of development on our self serve tools and the rate of development on interfaces for our small customers is moving at a pace where I’m really pleased,” Hogle said. “The ability to carve out opportunity for advertisers is something that’s moving really quickly. Is it where it needs to be long term, of course not, but we’re gonna continue to invest. One of the reasons I joined was it was very clear to me that small businesses were a priority. We are going to invest in products and we’re also going to invest in educational programs. We’re gonna invest and provide the necessary resources.”

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Pinterest is slowly rolling out its automated shopping ads to more marketers

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Pinterest is looking to continue to increase its portfolio of ads, though sometimes that can take a little while to see the light of day — and that includes a new-ish tool called Shopping Ads that’s slowly getting opened to more marketers and advertisers.

Getting new ad formats is important for a smaller company looking to build out an advertising business, as it has to show potential advertisers it can offer an array of tools to play with as they experiment with that service. The company said today that it’s expanding those shopping ad tools to hundreds of additional advertisers after launching a pilot program last year as it looks to continue to ramp up that tool. Pinterest has to be able to convince marketers that it should be a mainstay advertising purchase alongside Facebook and Google, which are able to routinely show returns in value for their advertising spend.

Shopping ads automatically create promoted pins from an existing product feed for a retailer. That means it’s basically one less thing for retailers to worry about as they add more and more content to the service. Most of Pinterest’s content online is business content as users share products they might be interested in one day buying or already own. As Pinterest gets more and more data on this, they’ll have a better handle on what ads work best, and hope that businesses will hand off the process in full to something more automated.

Pinterest hopes to capture that routine user behavior of planning what they want to do next, whether that’s an outfit to wear that day or some kind of major event or purchase down the line. Getting a hold of those users in the moment they might be interested in a new product is key to the company’s pitch to advertisers. You can more or less consider this a continued test as the company starts to slowly give the tool to the advertisers it works with before it becomes generally available. If it works, it could probably end up down the line in the hands of all advertisers, which could help for small- to medium-sized businesses without a lot of experience build out their early marketing campaigns.

Mobile – TechCrunch

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Pinterest hires former Square and Google exec Francoise Brougher as its first COO

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It’s moving slowly, but Pinterest and other tech companies are becoming less white and less male

Pinterest released its latest diversity report on Tuesday.

Slowly but surely, Pinterest is getting more diverse.

The company released its annual workforce diversity report on Tuesday, and claims that underrepresented minorities now make up 9 percent of its workforce, up from just 7 percent in 2016. Pinterest is also hiring more female employees: Women account for 45 percent of Pinterest’s workforce, up from 44 percent last year, according to this latest report.

The data represents advances compared to 2016 government data published earlier this year. And while the changes from year to year may seem small, the company is chipping away at those diversity proportions.

Here’s how Pinterest’s workforce has changed since 2014:

Women make up a larger percentage of Pinterest’s workforce than they did three years ago, and they also claim more technical jobs inside the company, roles that have traditionally been dominated by men. Women still account for 19 percent of Pinterest’s leadership positions, the same percentage the company had in 2014, but up slightly over the past two years.

Underrepresented minorities — people who are black, LatinX or Native American — also make up a larger percentage of Pinterest’s overall workforce. Minority employees make up a larger percentage of Pinterest’s technical and leadership groups than they did three years ago.

Here’s how Pinterest’s diversity report compares to similar reports from other tech companies. Silicon Valley has been making a push over the past few years to diversify the tech industry for a number of reasons, one of which is to bring in employees with a more diverse range of experiences and ideas. As you can see, Pinterest has a higher percentage of female employees than most other Silicon Valley giants.


Candice Morgan, Pinterest’s head of Inclusion & Diversity, says the company has instituted a number of programs in order to increase diversity, including Pinterest’s own version of the NFL’s Rooney Rule, which requires teams to interview at least one minority candidate for top jobs like head coach. Pinterest’s version of the rule requires the company to interview at least one qualified female and underrepresented minority for each senior-level opening.

Pinterest also has an apprenticeship program to encourage candidates from nontraditional tech backgrounds to apply, and requires employees to complete an unconscious-bias training course in their first week on the job.


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