The three pillars of a measurement system of truth
1. Build a fortress of first-party data
Relying solely on third-party data was always a gamble—now, it's simply unsustainable. Instead, focus on cultivating your own first-party data pile. On Pinterest, for example, advertisers who combine their customer lists with Pinterest interest-based targeting have seen impressive results, often outperforming retargeting alone.
Pinterest is also a goldmine of user intent, because the consumers you care about are actively using the platform to plan and shop. Pay attention to the Pinterest Trends tool—it's a direct line to the desires and interests of your audience, allowing you to tailor campaigns that resonate.
And let’s not forget to embrace server-to-server solutions like the Conversions API to close data gaps. Businesses that combine the Pinterest tag and the Conversions API have seen up to 14% lower CPAs and 28% more attributed conversion volume than with the Pinterest tag alone.
2. Experiment to optimise for your business
A well-designed marketing experiment provides specific, targeted information that other tools can't deliver. Take Sephora, for instance. As a longstanding advertiser on Pinterest, the beauty chain was keen to test the platform’s new lower-funnel capabilities and opted to implement a detailed campaign strategy tailored to Pinterest’s unique user behaviours. By optimising their targeting and budget distribution to reach the right audience at the right time, Sephora doubled their return on investment within a few months and achieved a substantial 14.8% increase in incremental sales.
But to maximise the benefits for your overall business strategy, experimentation should be a regular practice. Embrace a spirit of curiosity and make data-driven decisions a habit.
Start by using incrementality solutions like brand lift and conversion lift studies to understand the incremental impact of your campaigns. Matched market testing can further pinpoint the specific contribution of each platform or channel. These tools provide valuable insights into which efforts are truly moving the needle, allowing you to optimise your budget allocation and channel mix with confidence.
Remember, correlation isn't causation. Just because your ice cream sales go up during a heatwave doesn't mean your marketing caused the temperature to rise (tempting as that thought may be). To make informed decisions, you need to understand the causal relationships behind your campaign performance. Embrace robust testing methodologies to separate the signal from the noise and ensure your optimisations are based on facts, not just happy coincidences.
And don't forget the big picture. Integrate your experimental findings with cross-channel methodologies like Marketing Mix Modelling (MMM) and Marketing Mix Attribution (MTA). These tools provide a holistic view of your marketing performance, revealing the intricate interplay between different channels and tactics. This comprehensive approach is designed to ensure that your marketing investments are not only effective but also optimised for maximum ROI.
3. Calibrate your ad effectiveness
Understanding your marketing performance is like piecing together a puzzle; cross-channel attribution and MMM can help you see the big picture. Cross-channel attribution highlights how your online and in-app ads directly influence sales by tracing the customer journey and identifying specific touchpoints that lead to conversions. MMM, on the other hand, takes a broader view, analysing how all your media channels, from TV ads to social media posts, work together to drive sales both online and in physical stores.
But these tools, while powerful, aren’t perfect. Cross-channel attribution might miss the subtle influence of ad views that don’t result in clicks, and MMM might not fully capture the nuances of personalised campaigns tailored to specific audiences. To gain a more comprehensive understanding of what works, you need to dig deeper.
Regular experimentation— testing different channels, tactics and creative approaches—provides valuable micro-level insights. It’s like conducting mini-experiments to see what resonates best with your audience.
This holistic approach empowers you to make informed decisions and adjust your strategies effectively. By combining the broad insights from cross-channel attribution and MMM with the detailed learnings from regular experimentation, you can calibrate your measurement tools in order to optimise your marketing, delivering stronger results.
The time to start is…right now
For a guided walkthrough, take our free Measurement Solutions course on Pinterest Academy. Building a measurement system of truth is an ongoing process that requires learning, adapting and refining strategies continuously. Embrace a test-and-learn mindset and prioritise experimentation to drive success in an ever-evolving industry.
Your Pinterest team is dedicated to supporting you every step of the way. We will guide you through the complexities of measurement and build a plan that works for you. Don't wait—the future of measurement starts now.
How to generate a link for a single item on the mobile or desktop app:
1. Open the app and browse the product feed, enter a URL into the search bar, or choose an item from a moodboard or styling session.
2. Tap on the product and select ‘Trackable Link’ to generate a unique link that ensures you earn commission on any sales made through it.
3. Click ‘Copy’ to then share it across your social media accounts, emails or newsletters.
How to generate multiple links from a moodboard on the mobile app:
1. Open the app and click on one of your existing moodboards.
2. Tap the three dots in the top-right hand corner and press ‘Select’.
3. Highlight the items you want to create trackable links for, then tap the share icon at the bottom.
4. Select your notes app and this will automatically paste all of your links ready for you to share as you wish.
Need some extra help? Discover our step-by-step guides to creating a moodboard and sharing them outside of the app, mastering the styling session tool and inviting clients to THE FLOORR.
