With 200 million users, Pinterest is a smaller social network than giants like Facebook and Instagram. But it's uniquely important for marketers as a place users visit to gather information about potential purchases. In fact, Pinterest beats out Instagram as a primary social media platform influencing purchasing decisions for U.S.
So you're interested in learning how to advertise on Pinterest? Rand Fiskin from MOZ is predicting that Pinterest advertising will be a juggernaut in the upcoming 2015 year for social media advertising. He's predicting that advertising spending on the social media site will reach $50 million dollars.
The business of online scrapbooking is getting more valuable - at least in the eyes of investors. Pinterest said on Thursday that it has raised $200 million in a new round of fund-raising, at a valuation of $5 billion. At that level, the social network has joined the upper echelons of the start-up hierarchy.
Pinterest, which CEO Ben Silbermann describes as a tool that helps people find inspiration, is now the third-largest source of referral traffic on the Internet. But growth wasn't easy for the company, Silbermann told a rapt audience at Y Combinator's Startup School at Stanford University on Saturday.
Pinterest is finally setting out to make some money. The social-bookmarking company catapulted to renown from total obscurity among marketers and publishers in late 2011, when its user base and the traffic it delivered began to spike. It's raised $564 million since it was founded in 2010, but has taken a leisurely approach to building a business.
Brands without a presence on Pinterest are doing themselves a disservice, new research suggests. Pinners who actively engaged with an advertiser's content on the pin-based social network had a 40% larger shopping cart at checkout, according to analysis of three brand clients by real-time information provider Neustar.
Home improvement retailer Home Depot and visual network Pinterest have partnered to expand Pinterest's visual discovery feature-Shop the Look, with more than 100,000 shoppable products-to capitalize on consumer search behavior on the platform and overcome search engine shortcomings. To shop a pin, users tap the white circle on a product to see similar, shoppable items, including vanities, faucets, lighting, textiles and décor.
The Home Depot has forged a partnership with Pinterest to expand the social network's visual discovery feature, Shop the Look, according to a press release. The partnership will expand Shop the Look to include over 100,000 home décor products, such as vanities, faucets, lighting, textiles, tabletop and interior décor.