Social media giant Pinterest announced on Monday that it is launching its advertising platform, Pinterest Ads, in Brazil to a few brands that have started to test out the new feature.
With 459 million monthly active users reached at the end of 2020’s fourth quarter, a 37 percent growth, according to the company’s financial results disclosed on Friday, Pinterest expects to soon bring the new platform to other Latin American countries.
“As more than 46 million people in Brazil come to Pinterest every month to plan their futures, we give companies of all sizes an opportunity to connect with these people early in their decision-making journey,” says André Loureiro, managing director for Pinterest in the region.
Itaú, O Boticário, Mobly, Westwing, Amaro and Samsung are some of the selected brands that are already able to target a Brazilian audience through an advertising campaign on Pinterest. Available in more than twenty countries, such as the US, Canada, and Australia, Latin America is the next region on Pinterest Ads’ roadmap, after the launch across European countries.
According to the social media platform, 97% of top searches on Pinterest are unbranded, “meaning people are looking for generic terms and not specific brands, still in this moment of discovery. Thus, the brand can take part in that moment of inspiration,” as detailed by the company last year in an interview with LABS.
Aiming at both small and big companies willing to advertise with the new platform, Loureiro adds that not only Brazilian brands will be able to use it, but also foreign advertisers targeting the country’s audience.
“Brazil is one of the largest Pinterest markets outside the US. Our scale, combined with people’s unique mindset on Pinterest, makes our audience incredibly valuable to marketers,” says Jon Kaplan, chief revenue officer at the social media firm.
Following the launch in Brazil, Pinterest will roll out its ads platform in Mexico later this year, at a date soon to be confirmed. As for other countries in Latin America; Argentina, Colombia, and Chile are the next markets on the company’s roadmap.
Loureiro, who has been leading Pinterest’s efforts in Latin America, joined the company in November of 2020. LABS anticipated the search for the executive back in July.