Pinterest is the favorite online pin board for everyone and now it is ready to get monetized. Following the track of Zuckerberg’s Facebook’s ‘sponsored posts’ and ‘promoted tweet’ of Costolo, Pinterest which is a visual search tool is now introducing paid advertisements in its website.
Pinterest was launched in the year 2010 and it allowed all its users (the number crossed the 70 million mark last year) to upload and share their favorite images (also called pins) to their profiles.
This is the first time that Pinterest is introducing something that can generate revenue.
The initial program where Pinterest started off with the promoted pins was launched on May 12th. Many major corporations like Kraft, General Mills, Lululemon and Gap piloted these paid ads. They agreed to a 3-6 months agreement with Pinterest to run these promoted pins or new promoted images.
If you are thinking whether these ‘promoted pins’ is good for your business as well, that completely depends on you.
If we compare the cost per 1,000 impressions, as expected Facebook still remains in the top. Pinterest at this moment is best suited for the top brands.
But being an advertiser, it is important to have a reporting tool so that you can track as well as measure the results. On May 20th, the Business Insights API (application programming interface) was launched by Pinterest that makes it measurable to advertisers and brands. It reports on what is most popular and which images are doing the best and which pins are bringing the maximum sales.