Pinterest is inviting advertisers to buy CPM campaigns using an auction-based system, the pin-sharing network announced Thursday.
To date, brand partners have had to purchase CPM campaigns at a fixed price.
The change will help brands “get more impressions for their campaigns at more efficient rates which ultimately drives higher results,” a Pinterest spokesman said on Thursday.
In addition, the network is adding frequency capping, which will let brands specify the maximum number of times a user sees their ads.
In recent months, The Home Depot, General Mills and JCPenney have been testing Pinterest’s auction-based CPM system.
The new offering comes amid a broader industry shift toward automation. Year-over-year, global programmatic auction volume rose a whopping 151%, according to fresh findings from Accordant.
For Pinterest, the change is part of an aggressive effort to sell brands on its potential.
For example, it recently hired Gunnard Johnson to head measurement science and insights. Johnson most recently served as head of quantitative ads research at Snapchat, and, prior to that, was the advertising research director for Google.
This spring, Pinterest enlisted Millward Brown Digital to measure the impact of its brand campaigns.
Bigger picture, Pinterest’s business prospects are looking brighter than ever. In fact, the image-based social network reportedly expects to rake in $3 billion in revenue in 2018. If accurate, that would be dramatically higher than the roughly $100 million in revenue Pinterest reportedly took in last year.