Pinterest is arguably one of the fastest growing social networks. The site has grown to reach 70 million users and is currently valued at $2.5 Billion. Of course, anything that grows to be this big will eventually be monetized, and the time has come for Pinterest.
Pinterest began testing their “Promoted Pins” advertising platform recently. The native advertising platform is similar to Twitter’s Promoted Tweets and Facebook’s Promoted Pages/Posts. Advertisers can pay to have their pins shown amongst the user generated content on Pinterest. The ads are labeled with a “Promoted Pin” notification, but they blend in to the interface very naturally. (shown below) Pinterest CEO, Ben Silbermann, claims the ads will be “Tasteful,” Transparent,” “Relevant,” and “Improved based on [user] feedback.”
As of now, Pinterest is only testing their advertising platform with a select few businesses, but they have plans to broaden their advertisers pool soon (Exclusivity tactic from Pinterest again. What a surprise!).
It is always nice to have a new advertising platform in your marketing arsenal. Pinterest’s unique, cult-like following makes the site a great advertising channel for many companies. Social media marketers already know the value of traffic from Pinterest. It is to be seen how the Pinterest users will react to the new ads.
Check out this information on the Pinterest Audience: