Pinterest knows what makes it special and now they are trying to monetize it. Pinterest is a product seller’s dream platform because people are pinning things they want now or in the future. The only issue for sellers up to this point was how to capitalize on that interest in the moment. If you don’t get them to buy now, interests change and the purchase can be lost.
Pinterest started with Rich Pins so sellers could incorporate relevant information like price and discounts, then they launched Promoted Pins so businesses can get their products in front of the right audience, and now they are introducing Buyable Pins. Buyable Pins makes it easier for consumers to buy NOW from the Pinterest platform.
To give e-commerce sites a boost and keep information relevant for Pinterest users, Pinterest launched Rich Pins. Rich Pins are Pins that include pertinent information on the Pin itself. There are 6 types of Rich Pins: app, movie, recipe, article, product and place. When your website updates information about the item pinned it is also updated on the Pinterest Pin.
To integrate Rich Pins in your site visit: https://developers.pinterest.com/rich_pins_overview/
In the later part of 2014 Pinterest opened up the opportunity for users and businesses to promote pins for more exposure. Promoted Pins are similar to promoted Facebook Posts, you pay to get in front of an audience that has an interest in that content. Pricing for promoting your pins varies based on your goal, impressions, targeted interest reach, and click throughs to your site.
Pinterest announced on June 2, 2015 that they will be launching Buyable Pins, this will allow Pinners to buy items straight through Pinterest. When you spot a Pin with a blue price button, you’ll know you can buy it right from the app. When you’re ready to check out, tap Buy it and pay with Apple Pay or a credit card. Initially this will only be available to iPhone and iPad users, if you’re on Android or using your desktop, you’ll see them in future releases.
Buyable Pins is currently available to large retailers like Macy’s and Nordstrom, but for the smaller e-tailer it is initially only integrating with ecommerce platforms like Shopify. For e-tailers that are not on Shopify you can request to be added to Pinterest’s waitlist on its blog.
Money & Exposure
Where will Pinterest make their money off this? By introducing Buyable Pins, more sellers will use Promoted Pins to get their Buyable Pins exposure, or so the smart people behind Pinterest think.
So does that mean that things will get harder for the little retail gal? Yes and no.
Pinterest is working on search along with e-commerce integrations, so small businesses on Pinterest can still find an audience for their products organically but they will need to be smart about how their products are portrayed in order to do so.
Pinterest is all about the image, your images will need to be crisp, eye-catching, and creative in order to get the likes, pins, and comments you will need to boost you up in search. Pinterest has updated their search with suggested/predictive search, like Google you will see suggestions as you start typing. You want to be included in those suggestions you will need to active or prolific in your reach.
Image source: https://blog.pinterest.com/en/buyable-pins