Pinterest reports 50% gain YoY in SMB advertisers
Pinterest reports it has 1.5 million businesses connecting with customers on its site each month, is continuing to grow its list of small businesses advertising on the platform and is seeing a 50 percent year-over-year jump in SMB (small and medium-sized business) advertisers since last year.
In addition to sharing advertising numbers, the site announced it was extending its “Promote” button for Promoted Pins beyond the US to business accounts in Australia, Canada, Ireland, New Zealand and the UK. It also has hired Matt Hogle as its new global head of small business. Hogle will be tasked with developing new SMB programs and will report to Jon Kaplan, Pinterest’s global head of partnerships.
“I’m excited to help small businesses grow on Pinterest,” says Hogle. “For companies looking for new customers, Pinterest is the perfect place to advertise, as people come here specifically to decide what to do or buy next.”
Pinterest released the numbers and new hire as part of an announcement marking the one-year anniversary of Pinterest Propel, an advertising program that offers brands and agencies one-on-one support for creative strategies and campaign optimizations.
The site says businesses using Pinterest Propel are earning three times more clicks on their ads compared to advertisers on the platform not using the program and see a 15 percent lower cost per click in the first 90 days.
Earlier this week, Pinterest announced changes to its product organization team. The site says its consumer product and ads product teams will be integrated into one product team led by Lawrence Ripsher, Pinteret’s SVP of product. The announcement was made in connection with news that the company’s head of products, Jon Alferness, was leaving the company.