Pinterest Gets PaidMarch 26, 2014
So far in 2014, Pinterest has been killing it. The average Pinterest user holds down a $100,000 annual salary and, increasingly, studies are showing that Pinterest is commanding upwards of 41% of e-commerce traffic from social media sites. More than 90% of US online specialty retailers are on Pinterest, alongside approximately 25% of Fortune Global 100 companies. The point here? Pinterest in no joke.
Which is why we’re totally unsurprised to hear that Pinterest has opened its doors to paid ads. We all knew it was coming. After all what began as an online pin board — a place to stick the things you wanted to review later — has grown into a massive online community that 81% of US women find to be a trustworthy source of information. But instead of the web-based advertising we’re used to, Pinterest seeks to make ads that people will actually appreciate.
“The goal for us is to make sure you’re adding value,” said Jennifer Gardner of Unilever. “Pinterest needs to be very careful. Ads need to be on point.” Unilever is one of just a handful of companies that test marketed the Promoted Pins, and Ms. Gardner’s point is excellent. The average person searching recipes on Pinterest will be less interested in an ad for mayonnaise than he or she will be in a recipe that includes mayonnaise. A well designed ad will not only increase the company’s visibility, but will provide actual value to the consumer.
So what do you think about Pinterest’s money making move? Will you keep an eagle eye out for Promoted Pins and skip right over them, or will you give the companies a chance to prove their value?