Pinterest has added several new features this year to improve the user experience.
You knew it was coming. Pinterest is testing promoted pins in what is certainly a preview of how the company will make money from all those carefully curated food photo collections.
Pinterest CEO Ben Silbermann in an email to users on 19 September said the image-rich social network will experiment by promoting just a handful of pins in search results and category feeds.
"For example, a pin for a Darth Vader outfit from a costume shop might be promoted in a search for 'Halloween.' Nobody's paying for anything yet--we want to see how things go, and, more than anything, hear what you think," Silbermann wrote in the email, which was later posted to Pinterest's blog under the heading, "Planning for the Future."
In his email, Silbermann said: "I know some of you may be thinking, 'Oh great...here come the banner ads.' But we're determined to not let that happen."
Pinning for profit
The future of Pinterest is profit--at least, that's the goal. Like other services of its ilk, Pinterest began as a desktop-only social network focused on building users. The company has spent the last year retooling its look, adding new features, and crafting a mobile-first strategy.
Pinterest is incredibly popular with retailers, both as a forum for displaying their wares and as a tool for finding out what's popular with shoppers.
"We think there's a direct link between the things people think, the things people do, and the things they buy," he said. "It's explicit."
The three-year-old network now faces the challenge of monetising the images its users find beautiful or inspiring. Promoted pins could be the answer. Silbermann promised pinners that the promotions will be tasteful, transparent, relevant, and "improved based on your feedback."
"No flashy banners or pop-up ads," he said. "We'll always let you know if someone paid for what you see, or where you see it."
Pinterest hasn't begun testing promoted pins yet, but the rollout starts soon.
In the third and final episode of our 3-part CMO50 video series exploring modern marketing and why it’s become a matter of trust, we’re delighted to be joined by Telstra’s former CMO and now digital services and sales executive, Jeremy Nicholas, and Adobe VP Marketing Asia-Pacific and Japan, Duncan Egan.
Flash back to the classic film, Willy Wonka and the Chocolate Factory. Television-obsessed Mike insists on becoming the first person to be ‘sent by Wonkavision’, dematerialising on one end, pixel by pixel, and materialising in another space. His cinematic dreams are realised thanks to rash decisions as he is shrunken down to fit the digital universe, followed by a trip to the taffy puller to return to normal size.
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As a nation united by sport, brands are beginning to learn money alone won’t talk without aligned values and action. If recent events with major leagues and their players have shown us anything, it’s the next generation of athletes are standing by what they believe in – and they won’t let their values be superseded by money.
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