Summary: Pinterest is introducing new tools for creators to make money from their content and partner with brands. With the new tools creators will be able to tag products through Idea Pins, earn commissions through affiliate links and partner with brands for sponsored content.
The move may represent one way that Pinterest is looking to compete with other social platforms, including Instagram, which recently announced a new native affiliate program and Tik Tok who has been promoting it's seller university, training creators to create affiliate relationships. Users will now be able to shop directly from their favorite creator’s Idea Pins and go from “inspiration to purchase,” as Pinterest puts it.
According to Pinterest, those on the site were 89% more likely to exhibit shopping intent on products tagged in Idea Pins than on standalone Product Pins. The Idea Pins will also have a tool enabling them to be labeled as a “paid partnership.”
The changes represent a commitment to build a creator platform centered on “inspiration over influence and entertainment,” which is perhaps a dig at influencers using social media.
Aya Kanai, Pinterest’s Head of Content and Creator Partnerships said in a statement published in TechCrunch that the latest update empowers creators to reach shoppers and monetize their work.
“Creators deserve to be rewarded for the inspiration they deliver to their followers and the sales they drive for brands,” she said. “Creators are central to our mission...and we’ll continue working with them to build their businesses and find success on Pinterest.”
In May 2020, Pinterest launched a new app with Shopify, giving merchants a way to upload catalogs and turn their products into shoppable product pins. About a year later in June 2021, the company expanded its shopping features to Australia, Canada, France and Germany. It also launched “shopping spotlights” to showcase expert recommendations from influencers and publishers as well as the “shopping list,” which collects a pinner’s product pins in one place for them to shop.
Up next from Martech Record:
The future of OPMs: how industry investment, automation, and acquisition is changing the face of the affiliate service. (August)
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