'Pinterest Presents' a different platform
Pinterest announced its second annual global ads summit, Pinterest Presents, Wednesday under the theme "It's Different Here" - another push to regain regular user momentum.
After a 47 million follower decline over the past three consecutive quarters, the platform is seemingly relying of this year's global ad summit to peak interest and convince current pinners to enjoy a platform focused on "building a more positive place on the internet" and forgetting about vanity metrics - namely likes.
Set for March 10, this year's summit is said to provide exclusive insight into everything a brand needs to be successful on Pinterest including:
Unexpected trend predictions
New ways to partner with creators
Special guests like Tan France, pinner and tv host and Pinterest CEO Ben Silberman
New product announcements
Shopping opportunities for Pin merchants
and creators and monetization.
Despite the validity of the value Pinterest can offer consistent creators - with 90% of pinners using the platform to influence shopping decisions and a creators funding program incentive; without being able to uphold the growth momentum the platform saw in 2020, it's likely it will become increasingly harder to peak advertiser brand opportunities and beyond the way other platforms can - posing an obvious issue all around.
Unfortunately, ad placements like this one from August 2021 won't be enough to convince the crowd.
Pinterest places some of the blame on "Google's algorithmic changes" in their Q2 Letter to Stakeholders - seemingly referencing Google's Core Update in November.
In addition, lower search traffic (driven by Google’s algorithm change in November) negatively impacted our MAUs on a year-over-year basis. In fact, we believe lower search traffic was the primary reason for the sequential decline in MAUs from Q3 to Q4 in both the US and international markets.
Nevertheless, this year's events are sure to answer many questions as to just how well Pinterest will be able to make up for lost time as the end of 2022 Q1 soon approaches.
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