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Pinterest recently announced that the subsequent trial of its data clean room is in the testing phase, as a measure for evolving privacy concerns among Pinners, Creators, and brands using the platform for marketing. Originally the platform did a pilot project by partnering with LiveRamp and Albertson back in January.
Now, the platform is launching the second stage of the security process giving retailer Wayfair an opportunity to become the first business to incorporate the new process of its data clean room trial. Therefore, Wayfair will now be tracking ad performance on Pinterest with LiveRamp technology.
According to Pinterest:
“In this clean room pilot, Wayfair will get aggregated insight into the performance of their ads on Pinterest, with LiveRamp’s privacy-centric data collaboration platform ensuring neither party has access to the other party’s identifiable customer data. Pinterest completed integration with LiveRamp earlier this year that unlocks advanced analytics with configurable permissions and privacy controls for secure data collaboration.”
Pinterest’s collaboration with LiveRamp
In January 2023, the platform announced its data clean room trial in partnership with LiveRamp, as a solution to counter the loss of useful information and data insights. The move was a result of the increased fascination around data security and privacy concerns, and a need for a strong privacy strategy for its users to gain confidence.
But what are these data clean rooms and why is it so useful? The clean rooms are designed to prioritize data private, they help in keeping the data private and provide insights into ad performance and statistics by providing a neutral clean room environment. This clean room offers advanced privacy controls, tapping into the security concerns of all the parties involved.
Pinterest detailed a new partnership with LiveRamp Data Hub at @CES 2023 in Las Vegas Thursday, under which LiveRamp will pilot clean rooms for select Pinterest advertising partners, starting with grocery company @Albertsons.https://t.co/8z1XfjA7VJ via @Adweek
— Pinterest Business (@pinterestbiz) January 5, 2023
Pinterest’s data security move
Pinterest is the 14th largest platform in the world with the highest number of global active users as of January 2023. Beating other platforms like Twitter, Reddit, and Quora, but still remaining under social media platforms like Facebook, Instagram, TikTok, and Snapchat.
In a drive to create a positive internet across the globe, providing a great user experience after a tiring day, Pinterest is definitely on the move. The social media platform is determined to build a better internet for everyone.
💫 A more positive internet *is* possible.
— Pinterest UK (@pinterestUK) June 8, 2023
Find out how Pinterest is building a better internet—and what that means for brands 👉 https://t.co/XKT4EsTdmo pic.twitter.com/IVxcH1zUbj
What else can it do to raise the number and enhance the user experience? An effective approach to enhance Pin targeting involves leveraging both customer lists and its data, enabling more advanced segmentation and expanding its reach through lookalike audiences.
After decoding this, the new developments and strategies by the platform in the digital marketing landscape could be a step to cover the data loss in recent years. Data loss has become a prominent concern in recent years and platforms are actively working on solutions to maximize the available insights and enhance engagement rates.
The platform has observed that brands achieve better outcomes when they combine multiple data points rather than relying on a single source in isolation. Advertisers who employ more precise, interest-based targeting in conjunction with their first-party customer lists generally experience significantly improved performance.
To address this issue, clean rooms have emerged as a potential solution in certain cases. It will be intriguing to witness the outcomes of this new integration for Pinterest marketers.
Data clean rooms ensure that any data used within the targeting and analytics process is not accessible by a third party, which enables comparable audience targeting to what brands are now accustomed to within social apps.
As a marketer, now plan and execute a successful Pinterest strategy for your brand.
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