Attention App Install Advertisers: Pinterest’s New Tools Improve Targeting and Lower Cost per Install
Pinterest may not be your first thought when it comes to choosing a platform for your app install campaign, but they’ve recently rolled out a set of tools that could make it your new favorite.
Quick Facts on Pinterest Advertising
Let’s spend a moment on a few attributes and innovations that make Pinterest’s ad platform compelling before diving into app-install focused tools. As you probably know, Pinterest’s user base is predominantly female— more than 70 percent. They tend to be under 45, have relatively high incomes, and they tend to be buyers. Unlike Facebook, Pinners browse by their interests, using search terms similar to the way they would on a search engine to ideate and plan.
On the backend, because you can bid on search terms, Pinterest gives you quite a bit of control over who sees your ad, helping you drive performance. The new “actalike” audience feature gives you further control over targeting as well, exposing your ad to Pinners who “act” like your best prospects. (This is comparable to Facebook’s Lookalike audience targeting.) You can also retarget web traffic on Pinterest, as well as people who have interacted with your ads. Last, Pinterest has a unique characteristic we call the aging or baking effect, meaning you can earn conversions up to 60 days past the date of your final ad impression or engagement click, lowering your CPA long after the campaign ended.
Pinterest’s New Focus on App Install
While those enhancements make Pinterest a stronger platform for all advertisers, the tools Pinterest has developed for app install campaigns make a good thing even better. First is the optimized cost per install (oCPI) bid type, which lets you move away from the general CPM approach. oCPI algorithms target your ad delivery toward those Pinners who are likely to install your app. Pinterest is gathering that data based not only on your own campaign’s successes, but also the app install data it has from other app install campaigns across Pinterest.
Every time a Pinner installs an app, Pinterest uses that data to refine its oCPI algorithm. If you set a target install price of three dollars, for instance, Pinterest will try to show your ad only to those the algorithm has identified as likely buyers at that price. So it’s actually prequalifying your campaign’s audience.
Another recent enhancement—One-tap pins—has had a profound impact on our clients’ click through rates, conversions, and cost per click. Now you can run oCPI One-tap campaigns, targeting qualified prospects—an audience that is already a step further into your conversion funnel.
Finally, you can integrate Pinterest app install campaigns with various mobile app attribution tools like Kochava or TUNE. This integration allows you to track not only installs, but down-funnel activity in your app, enabling you to easily and effectively track lifetime value and average revenue per user.
Pinterest App Install – Worth Testing
What Pinterest has done over the past few months is a real boon for app-install advertisers. If you have stayed away from Pinterest in the past because of a lack of familiarity with the platform or have heard that CPCs tend to be high, then you should give it another look now.
We’ve helped app-install clients drive tremendous value using Pinterest’s new tools. If you are looking to planning or running an app install campaign, and want to explore how we might position you for the same types of success on Pinterest, give us a call. You might be surprised by the opportunity Pinterest’s users and tools present.