If you want to start to advertise on Pinterest, you have to understand how Pinterest ad pricing works and how much will Pinterest advertising campaign will cost you.
In this Pinterest ads tutorial, we are going to explain how much do Pinterest ads cost and what impacts the pricing of Pinterest ad campaigns.
How Much Do Pinterest Ads Cost?
If you are using Pinterest and other social media platforms to advertise your products and services, the cost may concern you. Pinterest comes with paid and free advertising tools, making it the leading platform for business advertisements.
The good thing with Pinterest is that the advertising cost will vary depending on your campaign goal. This platform offers you three Pinterest ad goals that you can choose from: to drive more traffic to your website, improve site engagement, and create brand awareness.
The following are the average price for these campaign goals:
- It will cost you around 1.50 US Dollars per engagement if your goal is to drive more website traffic.
- 1.50 US Dollars is the average cost per Pinterest advertisement if you want to boost website engagement.
- 1000 impressions to build brand awareness would cost you 5 US Dollars
Pinterest Ads Cost and Pricing by Campaign Types
If you have a business and want to advertise your products or services on Pinterest, the first thing that may come to your mind is its associated cost. The price will vary depending on different factors, including the type of campaign goal.
Pinterest ads have three main objectives: get conversions, drive consideration, and build awareness. Among the three, driving consideration is the most essential. Remember that each goal is associated with a different price range.
The following is a detailed explanation regarding the Pinterest ad cost according to campaign type:
Build Brand Awareness Ad Cost – Pinterest advertisements to build brand awareness will cost around 2 to 5 US Dollars.
Boosting Engagement Ad Cost – For Pinterest, advertisements for boosting website engagement would cost you around 0.10 to 1.5 US Dollars.
Driving Web Traffic Ad Cost – You will spend 0.10 to 1.5 US Dollars to create Pinterest ads to drive more website traffic.
Pinterest Ads Bidding Types
As a Pinterest ad campaign manager, you must choose your preferred bidding types. Pinterest offers two options, including custom bidding and automatic bidding.
Pinterest ads Custom Bidding
Custom bidding allows you to type in your max CPC bid amount through Bulk Editor or Ads Manager. This is time-consuming, considering that you need to adjust bid amounts manually. However, it gives you more control.
Pinterest ads Automatic Bidding
Automatic bidding allows Pinterest to take control of bids on your behalf.
This will help you save time as the platform will do the job to get the maximum clicks to benefit your campaign. Although it takes time, when the platform masters the perfect bid spot for your campaign, you can earn more than you spent.
Pinterest Ads Average CPM
CPM, or Cost Per Thousand, is a unit used to express how much it costs to advertise online. CPM can be used to compare costs of media advertising in a given time to other forms of advertising, such as TV, print, or the like. It is also used to compare different media platforms, e.g., an online ad to a TV commercial.
Generally, the Pinterest ad’s average CPM may vary depending on different factors. However, the average cost may range from 2 US Dollars to 5 US Dollars. One factor affecting the average CPM is the type of campaign you choose.
How To Optimize Pinterest Ads for Lower Cost and Higher ROI?
The best thing you can do to optimize your Pinterest ads without spending a lot and earning higher ROI is through its metrics. Work on a group of advertisements with a higher CTR or click-through rate. Moreover, focus on your CPM and ensure that you have healthy pricing.
After that, check your cost per acquisition. Ensure that they have good profit margins. The next thing you should do is to look at your ROAS. If your ROAS is lower than 1x, you must improve your CTR, targets, and offers.
On the other hand, if your ROAS is higher than 1x, you can start removing advertisements that seem to be working and gradually increase your budget.
Pinterest ads cost will always be your number one concern when starting advertisements on the said platform. The good thing is that Pinterest has the cheapest advertising cost than other social media channels, so you can earn more while spending less.