Pinterest Rolls Out New Verified Merchant Program as Search Volume Increases
There is also a significant change in dynamic retargeting.
Retailers and other merchandise will now have a few more ways to be discovered on Pinterest. The platform is due to introduce new shopping features aimed at bringing products to a platform where users are more likely to shop.
The announcement was made on Thursday, including the launch of Verified Merchant Program, new conversion reporting capabilities, dynamic retargeting options and also highly anticipated updates to Product Catalogs.
What is new?
Verified Merchant Program: Pinterest came up with the feature where it will allow retailers to be verified, which will make their products eligible for distribution across the platform. The verified merchants will have a blue badge on their profiles and will be eligible for metrics like conversion reporting etc.
Conversion insights: retailers will have access, earlier than others to organic and paid conversion insights. Also, accurately measure Pinterest’s impact on website visits, checkout and sales etc.
Dynamic retargeting: The retargeting has extended its dynamic ad retargeting globally for advertisers. They can reach out to users who have previously engaged with their brand online but somehow abandoned the shopping cart later.
Catalogs update: Brands can upload product catalogue for ads and shoppable pins. This has now optimized to ‘lessen the time from feed ingestion to Product Pin creation’. It does include new metric, enhanced user experience and ability to schedule feed.
Why is this NEWS important?
E-commerce shopping is becoming increasingly necessary as brick-and-mortar retailers cannot operate due to the lockdown and the future is unforeseeable due to the outbreak of COVID-19. Retailers need to think of long-term engagement and this is a good time for doing that.