Pinterest Planning To Get Into Monetization Mode With Promoted Pins

Pinterest is now planning to take more concrete steps to generate revenue from the traffic it receives. The company said disclosed to The Wall Street Journal that it would be launching its ad product, Promoted Pins in the second quarter of this year. The company had announced Promoted Pins last year and was experimenting with in a limited capacity.

By readying the product for general release, the company plans to go about it in a different way. For starters, it is looking to maintain the existing visual aesthetic which defines Pinterest. Besides that it wants ads on its platform to be ‘works of art’ rather than attempts to solicit customers. Pinterest and other companies like Instagram have taken advantage of a rather overlooked phenomena – visual content. If Pinterest’s ad can be beautiful to look at, it expects users to engage with them because that is the whole point of Pinterest. Users go to the site to see beautiful things which they like or want to buy. This is a great for the site because if ads can be on par with the quality of user generated visual content, they will not be rejected by pinners. In fact marketers could fashion useful content for various situations such as a vacation, arty objects, gifts and so forth.

It seems that Pinterest will go with this ad push across desktop and mobile, even though the company claims that around 75% of their user base accesses Pinterest from mobile. ComScore data suggests that Pinterest has around 48.7 million users globally. The company has raised a total of $564 million since date.

It does seem that the company and its product could give rise to meaningful forms of advertising which can be engaging instead of being irrelevant and distracting. The funding the company has raised till date show that their investors do believe that the website can be a great place to serve advertising and generate revenue from marketing activities.

In related news, Pinterest launched a new Gifts feed which lets users explore and discover gifts and merchants who sell them. The company also recently introduced a Hindi language option for Indian users.

Source | WSJ

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