Pinterest, the latest social media darling has decided to start making money. Just like other social media outlets such as Facebook and Twitter, Pinterest will be adding promoted pins to both its search results and feeds. Right now they’re just in the initial test stage, but the potential for both Pinterest and advertisers is huge.
What is Pinterest?
Pinterest, of course, is a social media outlet built around images. Users find things they like, whether it’s recipes, designer clothes, furry animals or something else entirely and pin those images and their respective links to what are known as pin boards. At Titan Web Marketing Solutions, we like to pin images of our designs, whether they are websites, business cards or logos plus images from our articles and other’s inspiring work. It’s a community built upon visual stimulation. For some retailers, it has also become a huge source of business and, most importantly, it’s free.
Pinterest, for the moment, is taking things a step at a time and only showing promoted pins to a select few users and allowing a limited number of advertisers to participate, but just like the other major social media platforms, a full roll out will happen soon enough. After all, advertising is how social media websites make their money.
Will Promoted Pins Be Worth the Money?
So the question will be, is Pinterest a platform worth advertising on? For a lot of people, I believe the answer will be no. It’s certainly not going to be worth it for service related businesses. But for retailers, whether large or small, the benefits could be huge.
Pinterest is really a retailer’s dream. Almost 30% of Pinterest users have an income over $100,000. Think about it. There are already retailers, especially fashion related ones, using their Pinterest accounts to draw large numbers of visitors to their websites and their products. Retailers with a large focus on seasonal merchandise and the latest trends could really see a boost. At the moment, retailers can pin their products and so can their shoppers, but ultimately the products still need to be discovered. With promoted pins, retailers can announce the latest merchandise to a very large audience for a relatively small amount of money.
For small retailers there is also an advantage. Small retailers tend to develop a core following of loyal buyers and promoted pins can help them more easily expand their audience. In many ways, it could be used in a similar manner as a Facebook Like campaign where an advertiser uses ads that promote a contest or something of the sort, but to enter you have to “like” the page (or “follow” all their boards). The potential is huge for unknown brands to become known.
If you are a small retailer and you aren’t on Pinterest, my first question to you would be, why not? And then I would advise you to look at how your company might benefit from some promotional pins of your own. Because once they roll out the system for everyone to use, it could be a great opportunity.If you need help with Pinterest or any other aspect of your social media presence, feel free to call our office at 615-890-3600 or email us. We’ll make sure your company is not going to get left in the dust.