Pinterest Introduces New Ways To Let You Monetize The Ideas In Your Pins—Finally
Photo 81453071 ©️ Wdnetagency | Dreamstime.com
To retain market share in the increasingly-competitive influencer economy, social media giants—from TikTok to Facebook to YouTube—have been thinking up new ways to improve earnings of creators on their platforms.
Although late to the monetization race, it looks like Pinterest is finally ready to take a big step forward.
‘Shoppable’ Pins
Image via Pinterest
Back in May, Pinterest launched Idea Pins, a video-based feature based on the existing Story Pins. However, the firm decided against a transient story function like the one we saw pioneered on Instagram, instead turning Idea Pins into a longer-lasting concept. The new Pins allowed users to create up to 20 pages of content in a single post, with recording and editing functions too.
Now, a few months later, creators are able to utilize Idea Pins in more ways, including business ventures. They’ll be able to tag products in the pins to make the content ‘shoppable.’
Affiliate Links, Brand Partnerships
Image via Pinterest
There’s also the opportunity to earn commissions via affiliate links, and create sponsored content for brand partnerships. So, creators can utilize a specific sponsored product, tag it, and allow viewers easy access to the brand and product info, generating revenue.
Although still somewhat reminiscent of Instagram stories and TikTok videos, the new features do have their own unique spins. For example, the videos include ‘detail pages’ where viewers can find relevant content. So a recipe video might have the ingredients list there, or a craft project might include a transcript of its instructions.
Shopping isn’t entirely new to Pinterest either—the platform has partnered with Shopify with a recent expansion to more regions, and product links already exist on content. Pinterest found that users “come to Pinterest to shop”, and were “89% more likely to exhibit shopping intent on products tagged in Idea Pins than on standalone Product Pins.”
However, the new Idea Pins put creators on the forefront. “Creators are central to our mission to bring everyone the inspiration to create a life they love, and we’ll continue working with them to build their businesses and find success on Pinterest,” says Aya Kanai, Pinterest’s Head of Content and Creator Partnerships.
[via TechCrunch, images via photo 81453071 ©️ Wdnetagency | Dreamstime.com and Pinterest]
Also check out these recent news
