Considering where else you can be marketing your business? Why not try Pinterest? Today I’m sharing some factors to consider when thinking about Promoted Pins as a paid adversiting campagin!
There are some platforms that people absolutely crush it on when it comes to paid advertising, and Facebook is clearly huge for many businesses. But what happens if you get the dreaded disabling of your Business Manger?
Unfortunately this can occur, and sometimes it’s not always even for legit reasons. This is why it’s important to diversify your marketing platforms.
Cue the Promoted Pins! In case you’ve been thinking about where else you can be marketing your business, why not try Pinterest? Pinterest went public in 2018, and now more than ever they’ve got skin in the game and they need Promoted Pins to “work” for people.
So in case you’re wondering “do they work”, well yes, yes they do.
However, just because Promoted Pins do in fact work, and can be a great place to advertise, that does not mean it’s a wise investment for everyone. That’s why I’m here to share some factors to consider when thinking about Promoted Pins!
Do You Have a Sales Funnel?
I always try and be transparent when I get on calls with people.
Why are you Promoting Pins if you don’t have a sales funnel? If you do have a sales funnel, has it proven to convert? Pinterest is a great platform for collecting leads and also doing so at a relatively low cost depending on a number of factors. However, if your sales funnel is not proven to convert, you may be investing in vain.
I serve many teachers, and this means that many of my clients are TpT sellers. So, I wanted to provide a special note for teachers especially, since many are interested in Promoting a Pin directly to TpT.
TpT is difficult to track, and if you’re very familiar with the platform, you probably already know this. Honestly, I could probably write an entire blog post on Promoted Pins for TpT sellers, but that’s for another day. So I’ll try to keep this short and sweet.
There’s more value over time in an email subscriber than a $10, $15, $20, etc. sale on TpT. Plus, you OWN your email list, and you don’t own social media platforms, Pinterest, or TpT.
This is precisely why I still think it’s important for teachers, as business owners, to have a sales funnel and lean into conversion rates and optimize their funnels.
This isn’t to say you can’t Promote a Pin to TpT, you can do anything you want!
I just think it makes more sense long term to invest in your list, where you can have lifelong loyal customers! Plus, Pinterest is great for top of the funnel, meaning it’s perfect for capturing leads!
If you’re wanting to learn more about sales funnels, your current status, plus Promoted Pins, be sure to grab my super helpful Promoted Pin Essential Guide!
So what if your sales funnel is new?
Great! We can use a Promoted Pin to test the funnel. But it will be just that, a test.
It may show you that you’ve set up a phenomenal sales funnel for Pinterest, or maybe it will show you some bottlenecks you need to work out. Either way, it’s still providing valuable information to you.
Putting money behind a new funnel is a great way to gain information on the funnel quickly!
Putting the funnel into action and capturing leads on Pinterest
I mentioned it previously, but I’ll mention it again, Pinterest is really great for capturing leads. When you think about a sales funnel, lead generation would be at the top. So this is why I say Pinterest is good to use for the top of your funnel!
You may be wondering why this is the case.
People come to Pinterest for a variety of reasons, but oftentimes they come with a problem that they need to solve. But many people are still in the search and discovery phase.
So, people might not be ready to buy JUST yet, but if you have a free offer, and your audience can explore that a bit more, it’s much easier to say yes to something free. Plus, you don’t have to invest insane amounts of money to get results, which means you’re getting leads at a relatively low cost.
So I’m getting subscribers, but how do I know if what I’m paying per subscriber is a good value to my business?
Good question! I encourage clients and potential clients to determine what an email subscriber is worth to them as a business.
This can vary greatly from business to business based on a number of factors. There are tools out there to calculate this number (here’s my favorite) and it’s worth doing so because it will really change your perspective on investing in campaigns with the objective of lead generation.
Just think about it.
If you’re paying $1-$2 per lead, and you know an email subscriber is worth at least $25 to you monthly (just making this up as an example), that’s a pretty good ROI (return on investment)!
Speaking of money and ROI, let’s look at a budget for Pinterest
I recommend spending at least $20/day on your campaigns.
I’ve spent as little as $10 a day, and still received solid results, but it’s honestly on the low side. If you go much lower, you’re really not giving Pinterest enough latitude to work with.
Campaign timeline
It’s important to think about the fact that Pinterest does take longer to optimize, even for ads.
I require that my clients run campaigns for at least 30 days, which allows me to optimize the campaign over time, and make tweaks that will yield the best results.
Last but not least, your audience
I’ve run campaigns for different types of businesses across different niches. It’s important to know your audience is on Pinterest before investing in Promoted Pins.
There are a lot of Pinterest users out there, and so many niches that can do well on Pinterest. However, some can definitely be more challenging than others.
If you’re business to business, this can be more of a challenge than business to consumer. As I said, there are so many things that come into play.
In case you’re still wondering what to do next, and if Promoted Pins are for you, be sure to grab my Promoted Pin Essential Guide, which will walk you through your current status, and provide you recommendations for the next best steps for your business!
