Pinterest announced last year that it would be rolling out a new form of advertising for the site called Promoted Pins. These pins would be placements from select retailers and other businesses that could be pinned on the site. This week the company has begun rolling out a test of these Promoted Pins.
Pinterest says that the ads will only show up in the search and category feeds on the site. Brands and companies that are participating in the test are limited to a small group to start. Participating companies include ABC Family, Banana Republic, Expedia, GAP, General Mills, Kraft, lululemon athletica, Nestle (select brands), Old Navy, Target, Walt Disney Parks and Resorts and Ziploc.
A small group of advertisers allows Pinterest to collect feedback on the new ads before rolling the service out to all advertisers during the year. These advertisers were reportedly asked to spend between $1 million and $2 million on advertising. The CPM rate for the ads is in the $30 to $40 range. The Promoted Pins look like all other pins, but do say that they are sponsored.
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