Uncover the Lucrative Side of Pinterest: Unlocking the Secrets of B2B Marketing Investments

According to Grace MacDonald, Pinterest's B2B marketing lead, "Following the money" is the most effective way to justify the value of any marketing investment to business stakeholders. MacDonald emphasized the importance of demonstrating the potential revenue growth resulting from investments in areas like data and expanding the team when presenting the case to internal stakeholders. This was highlighted during MacDonald's speech at the DMA's Customer Engagement Conference earlier this week.

MacDonald highlighted the significance of simplification and unification as marketers now have access to a plethora of data sources.

"It is crucial to avoid having numerous fragmented datasets that are challenging to merge or unfamiliar merging techniques," she cautioned, emphasizing the need for marketers to understand their datasets thoroughly and facilitate effective collaboration between them.

Furthermore, she stressed the importance of marketers staying knowledgeable about data regulations in the markets where they operate.

MacDonald emphasized the significance of marketers having a clear understanding of their target audience when utilizing datasets.

"It's crucial to avoid the pitfall of over-targeting and getting too specific. This approach won't yield positive outcomes," she stated. "Conversely, if your target is too broad, you'll encounter a significant amount of wastefulness. It's all about striking the right balance."

In light of the upcoming deprecation of cookies, Pinterest, along with other social media platforms, has been shifting away from allowing brands to target consumers based on "basic" demographics, according to MacDonald. Instead, Pinterest is now focusing on enabling more behavioral-based targeting options, like lookalike models.

Pinterest serves as a platform for numerous brands to establish awareness. MacDonald emphasized that advertisers on the platform have observed slight changes in user behavior in response to the current cost of living crisis.

In the luxury sector, consumers may be purchasing fewer high-priced items such as handbags, but they are still investing in smaller indulgences like lipsticks. MacDonald emphasizes the importance for brands to focus on these "micro-sectors" in order to determine where to allocate investments and attract new customers.

Additionally, MacDonald advises brands to take a holistic approach to their advertising strategies. A customer might not be prepared to purchase a handbag at present, but may consider doing so in the next three years. Therefore, it is crucial for brands to think more expansively about how they can effectively engage with consumers at various stages of their buying journey.