Pinterest Releases New Tools in Move Towards Monetization

While Twitter might be the fastest growing social media site, the image-based platform Pinterest is a close second. Pinterest is essentially the newest popular social media company that is more than just a passing fad – it’s here to stay. Pinterest is primarily used by women, although the percentage of men using it has grown recently. It’s around 80% women, 20% men. Given its explosive growth lately, Pinterest has implemented some changes that business will welcome.

Monetization in Mind

Pinterest is also an excellent social media marketing tool for businesses and agencies. On the CEM Blog, fellow CEM contributor Ben recently demonstrated five profiles that are nailing Pinterest marketing. The news released last night means that now those agencies will have a more efficient time marketing with Pinterest.

According to Catherine Shu at TechCrunch, “Pinterest has started rolling out Pinterest Web Analytics” which will “allow businesses to see how many visitors the content-sharing service is referring to their sites.” This is a clear indication that monetization is moving to the forefront of Pinterest’s strategy, much like it has for Twitter, and especially Facebook over the past year.

New Tools and Features

The new options will be announced and offered for free today on Pinterest’s blog. As Alexei Oreskovc writes for Reuters, the new tools “will give site owners insights into how people are interacting with “pins” that originate from their websites.” The tools will be a great way for businesses and agencies utilizing Pinterest to know what content is reaching and impacting users and consumers.

In addition to tracking pins of users related to your site, Charlie Osborne on ZDNET informs us that the new tools will provide “information on how many people visit your boards, what has been most clicked, and what has been repinned.” These features and analytics tools are a much needed addition to Pinterest. As they slowly start to implement the framework for monetization, I think we’ll see more and more businesses and agencies getting involved in Pinterest.

Pinterest Becoming More Viable One Change at a Time

Pinterest has always been a viable social media marketing tool. It has just been hard for some businesses and agencies to adapt to. Or maybe they have just focused on Twitter and Facebook for their efforts. These latest changes, in addition to the ones made over the past year, have made Pinterest more accessible and easier to use as a marketing tool for agencies and businesses alike. It’s good that more businesses are taking notice of the marketing power of Pinterest.

And they certainly should be taking a look at Pinterest now. The site ranked 38th on the most visited sites in January. Ranking 38 out of millions of websites means people are on Pinterest, and they are active. Plus, given the predominance of female users on the site, some businesses and agencies have been using the platform to target that very important consumer demographic. If women are your primary consumers, getting on Pinterest and implementing a marketing campaign should be a no-brainer for you.

As Pinterest continues to experience incredible growth, expect regular updates, improvements, and changes to come to the platform. The company appears to be doing the right things for businesses, without harming the user experience, which is something that they will have to constantly balance. For now though, things are looking good for Pinterest.

Do you use Pinterest for your social media marketing? What do you think of the new tools released today?

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Patrick currently lives in Somerville, Massachusetts, where he is studying for a Master's Degree in Intercultural Relations. Upon graduation from Penn State in 2008, he spent two years overseas in Kyrgyzstan with the U.S. Peace Corps. While writing is currently his chosen way to put food on the table, he loves fitness and exercise, which he believes makes up for his avid computer gaming habit.

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