A new report from the Wall Street Journal confirms what many advertisers have figured out by now: Pinterest wants to own the Retail and Consumer Goods corner.
A few months back, the social bookmarking service sent a letter about the removal of all hands-on support and consultation for all ad buyers except those in the two core categories. Pinterest is de-emphasizing all other categories, but marketers outside of those spaces can buy ads using the self-serve system or a third party.
This is likely a smart move for Pinterest, as it plays to the network’s strong suit, consumers. Pinterest’s Head of Monetization, Tim Kendall, told the WSJ the following about the shifted focus.
“We’re a small team. We think this is the best approach to create the best ad business long term.”
He’s not wrong, either. The visual, vivid platform doesn’t lend itself to other categories nearly as well as it does to Retail and Goods, which are two of the top 10 categories in all of internet ad revenue so far in 2015:
Of course, this move causes much chagrin to marketers outside of these categories. Companies in major markets aren’t used to receiving letters that they will no longer be supported, but Pinterest is playing the long game and trying to firmly cement themselves as a leader in the space.
How will this play out for Pinterest and its $11 billion valuation? Only time (and consumers) will tell. For more information, see the Wall Street Journal article.
Image courtesy of the Wall Street Jornal.
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