Pinterest began unveiling its new advertising strategy this week. The popular pinboard-style photo-sharing website will now insert pins that it believes users will like in an attempt to aid them in finding new boards and widening their social circle.
To do so, the social site will analyze content of users pins then connect them with pins that are related to theirs. For instance if a user is pinning photos of primitive crafts, Pinterest will connect them with photos of other types of crafts or homemade decor.
Users can tell Pinterest if they like the pins it sends them and if they would like to receive more by simply pressing a thumbs up or thumbs down button. This is one of Pinterests first real steps in trying to establish a new advertising model. Eventually Pinterest hopes that this new step, which helps users with on site discovery, will lead to advertising personalized to user’s interests.
If Pinterest does it right, it can become a site where brands can highlight all sort of products and curate brand related pinboards that could result in sales increases. Many users look at Pinterest as window shopping. It is an influential site where users and brands alike can interact and inform one another about products.
Like Facebook and Twitter, Pinterest is popular social site with a lot of growth potential. People come to Pinterest with an e-commerce mindset. Many Pinterest users are putting together weddings, redecorating their homes or looking for new types of crafts to try. Users will click on photos in their field of interest and are likely to buy it or plan on buying it in the future.
Pinterest was recently in the news for acquiring $200 million in funding. The company is now valued at nearly $3.8 billion Pinterest launched in March of 2010.
Edited by Stefania Viscusi