Pinterest still isn’t selling ads, but when it does they won’t come cheap. AdAge reported today that the network is seeking spending commitments between $1 and $2 million, and is hoping to price CPMs between $30 and $40.
Marketers have long been eager to tap consumers on Pinterest, which according to the Pew Research Center trails only Facebook and LinkedIn in percentage of online adult users in the United States. And the 70 million active users of Pinterest use the network in a way that’s especially attractive to marketers, regularly sharing photos of products they are planning to buy. According to Gigya metrics, Pinterest is pushing Facebook and Twitter in total social shares, and now leads in shares on the eCommerce vertical.
That activity is almost entirely organic — or driven by brand level social media outreach. Pinterest’s ad activity up to this point has been experimental, testing “Promoted Pins” since last October. Those pins have only been visible in search results and trending pin topics, not in the streams where users spend the great majority of their time of the network, as AdAge notes.
Read more about the development at AdAge.