Pinterest launches new monetization tools for creators Dive brief: As social media platforms form deeper partnerships with users, Pinterest has introduced new monetization features for creators on its platform, the company announced on Tuesday. Creators can make Idea Pins — a video-first feature introduced […]
Pinterest launches new monetization tools for creators
- As social media platforms form deeper partnerships with users, Pinterest has introduced new monetization features for creators on its platform, the company announced on Tuesday. Creators can make Idea Pins — a video-first feature introduced this spring — shoppable, earn commissions through affiliate links and partner with brands on sponsored content.
- Customers can now tag products to their Idea Pins. This allows them to sell products directly from the pins. The company stated that Idea Pins can be denoted by creators who have partnered up with brands with a label that says “paid partnerships”.
- Pinterest will launch the Idea Pins tagging feature for U.S. business account users first, before expanding the feature to other countries. According to the announcement, the paid partnerships tool is available to select Pinterest creators in the U.S. and U.K., Canada as well as Australia, Ireland, Australia, and many other countries.
Pinterest’s new features increase the possibilities for creators. Paid partnerships allows creators to disclose sponsorships to their followers so they can authentically interact with users. Idea Pins’ shoppability will enable them to take advantage a space on Pinterest that is increasingly popular for making purchases. According to internal research, users are 89% more likely “exhibit shopping intention” for items tagged with Idea Pins than Product Pins.
Aya Kanai (Pinterest’s head of content partnerships and creator partnerships), said that the latest update “enables Creators to reach millions more shoppers on the platform” in a statement. “Creators should be recognized for the inspiration and sales they generate for brands. Our mission is to inspire everyone to live a happy life. We will continue to work with creators to help them build their businesses and succeed on Pinterest.
In addition to these creator tools, Pinterest has released other features in recent months to enable shopping, including launching a shopping list in June, which allows users to save product pins in one place and receive price drop notifications, and expanding a Verified Merchant Program. Pinterest launched a shop tab last year and style guides in June. It has also been working to improve its augmented reality try on tools.
Pinterest’s creator tools are being launched at the same time that other social media platforms have introduced creator-centric features to assist influencers in monetizing their brand partnerships and online audiences. Instagram, Snapchat, YouTube, Snapchat, and Facebook have all recently increased monetization tools, or invested in creators through their platforms.
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