Pinterest is a new social networking website where users share images that reflect their likes and interests on Virtual bulletin boards called pinboards.
Founded in 2008, Pinterest is the fastest social media website to date to break the 10 million users benchmark, which gained it the nickname “Facebook on steroids”. However, as of February 2012, it isn’t generating significant income for its creators. Can it do so for its business users?
Pinterest for brands lets businesses showcase their products and harness the power of word of mouth by letting other users re-pin their content.
One of the most interesting facts about Pinterest is that an overwhelming 97 per cent of its Facebook ‘likes’ comes from female users between the ages of 25 and 44. That is why the website is quickly attracting the attention of advertisers and marketers, who are aware of the great buying power of this demographic – and why pinboards about fashion, holidays, interior design, wedding planning, and recipes are among the most popular.
Initially some doubt about Pinterest’s legality was expressed by the press, who published horror stories about former users who had left Pinterest due to their fear that they would be prosecuted for breaching copyright laws. In response to this, Pinterest has changed its terms and now includes simple tools to permit users to report any infringement of copyright or trademarks.
We believe Pinterest has the potential to become part of a business’s standard social media package because it is much more visual than other networks, providing users with a browsing experience that closely resembles shopping and is a great tool for creating a brand lifestyle by sharing images of popular products.