The Chinese calendar may say that 2015 is the year of the goat, but many think 2015 is the year of social scrapbooking site Pinterest.
When browsing Pinterest profiles, users see boards dedicated to fashion, health & fitness, crafting, cooking, and vacation planning. Pinterest is a very aspirational-based social media network, and users frequently pin “wish” and “want” products and experiences. Consider a scenario where a user can pin a travel destination to their “Dream Vacay” board, and then have the option to book right from the featured image on the pin, or click “buy” on the gym bag your yoga instructor pinned – now that is something retailers can get excited about.
EMarketer recently reported that Pinterest will reach 50 million active users this year, (this still puts the platform well behind competing social networks like Facebook and Twitter.) Users do not always equal value, though. Pinterest is a unique platform in that its users are often browsing the site in a “buying” state of mind. Pinterest is trying to capitalize on that feeling.
Pinterest has been slow to enter the digital advertising scene. Their “Promoted Pins” advertising product is their first and only advertising offering, and has seen some success with brands like Target and Gap. Rumors from Recode.net say that a “buy” button is in the works, and could up the number of paid ad products currently offered by Pinterest. Giving users an option to “purchase” rather than just “pin” their finds could be a game changer for Pinterest and provide a simple way to monetize the platform. Digiday also reports that that a new “multi-image/pin carousel” will debut soon, which will give advertisers the ability to display several images in a single promoted pin.
What does this mean for digital marketers? While a multi-pin carousel could extend the visual depth of promoted pins, it’s the “buy” button that offers the most intrigue.
Photo Credit: Social Media Delivered