Amazon and Pinterest Join Hands for Third-Party Ads
Pinterest, a popular social media platform, has announced a multi-year advertising partnership with Amazon. The new deal will make Amazon the first-ever partner on third-party ads on Pinterest, the company said in a blog post shared alongside its first-quarter earnings.
“This milestone partnership will add to the great brands already on the platform and provide more comprehensiveness, shoppability, and a best-in-class buying experience for users, along with greater performance for brands and advertisers,” said Bill Ready, CEO of Pinterest. He added, “This aligns with our goal of making every Pin shoppable, so that we can enable as many users as possible to bring their dreams to life.”
The partnership will allow Pinterest to tap into Amazon’s vast inventory of products and brands, and offer more relevant and personalized ads to its users. Pinterest said its users are more likely to shop than those on other platforms and are looking for inspiration and ideas for their purchases. By bringing more shoppable content to Pinterest, the company hopes to enhance the user experience and drive more conversions.
Amazon, on the other hand, will benefit from Pinterest’s unique audience and data. Pinterest has over 478 million monthly active users, who use the platform to plan for future events and projects. Amazon will be able to reach these users with targeted ads based on their interests and preferences, and leverage Pinterest’s insights and analytics to optimize its campaigns.
“Amazon Ads is delighted to partner with Pinterest and make it even easier for customers to discover and buy relevant products through shoppable content, while also providing differentiated value for brands.” said Paul Kotas, SVP, Amazon.
The deal is also expected to boost Pinterest’s revenue growth, which has been slowing down in recent quarters. Pinterest reported a 5% year-over-year increase in revenue to $603 million in the first quarter of 2023, beating analysts’ estimates of $598 million.
Pinterest and Amazon said that they will share more details about the partnership in the coming months. Both are looking forward to working together to create a better shopping experience for their users.
“This milestone partnership will add to the great brands already on the platform and provide more comprehensiveness, shoppability, and a best-in-class buying experience for users, along with greater performance for brands and advertisers,” said Bill Ready, CEO of Pinterest. He added, “This aligns with our goal of making every Pin shoppable, so that we can enable as many users as possible to bring their dreams to life.”
The partnership will allow Pinterest to tap into Amazon’s vast inventory of products and brands, and offer more relevant and personalized ads to its users. Pinterest said its users are more likely to shop than those on other platforms and are looking for inspiration and ideas for their purchases. By bringing more shoppable content to Pinterest, the company hopes to enhance the user experience and drive more conversions.
Amazon, on the other hand, will benefit from Pinterest’s unique audience and data. Pinterest has over 478 million monthly active users, who use the platform to plan for future events and projects. Amazon will be able to reach these users with targeted ads based on their interests and preferences, and leverage Pinterest’s insights and analytics to optimize its campaigns.
“Amazon Ads is delighted to partner with Pinterest and make it even easier for customers to discover and buy relevant products through shoppable content, while also providing differentiated value for brands.” said Paul Kotas, SVP, Amazon.
The deal is also expected to boost Pinterest’s revenue growth, which has been slowing down in recent quarters. Pinterest reported a 5% year-over-year increase in revenue to $603 million in the first quarter of 2023, beating analysts’ estimates of $598 million.
Pinterest and Amazon said that they will share more details about the partnership in the coming months. Both are looking forward to working together to create a better shopping experience for their users.
Disclaimer:
Amazon is the registered trademark of the e-commerce brand.
Pinterest is the registered trademark of the social media platform.
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Pinterest is the registered trademark of the social media platform.
About ChannelMAX.NET:
ChannelMAX offers Amazon Repricer that runs on the latest AI Repricing algorithm to do Amazon Pricing Management or Amazon Repricing. Based on Amazon SP API, the repricing engine or repricer runs 24/7 and efficiently manages Amazon prices to maximize your BuyBox with profit optimization. Established in 2005, ChannelMAX has been integrated with Amazon technology since 2007, helping thousands of third-party sellers on various eCommerce platforms. Some of the eCommerce platforms, aka marketplaces, supported by ChannelMAX.NET, are Amazon, Walmart, eBay, and Shopify. Some of ChannelMAX key offerings include ChannelMAX Amazon Repricer, 2ndly, ChannelMAX Amazon FBA Audits and FBA Refunds management, an offering for managing Amazon FBA Refunds Reimbursement management for lost or damaged or misplaced inventory for which Amazon is responsible and for which sellers deserve appropriate credit reimbursement from Amazon. ChannelMAX Services offer Remote (aka Virtual) Full-Time eCommerce Assistant to help 3P sellers run their daytoday business.
Check ChannelMAX at Amazon Selling Partner Appstore, an application with a 5 star rating.