This year is set to be a big one for the social sharing website Pinterest as advertisers look to the company’s growing user base for targeted marketing.
This year, Pinterest is expected to roll out new marketing techniques that could give internet giants like Facebook Inc. FB a run for their money.
Boards Identify Potential Customers
An eMarketer report showed that Pinterest has around 47.1 million US users who log in at least once a month, an 11.3 percent increase from last year’s figure.
While that figure is dwarfed by the size of Facebook’s user base, Pinterest offers something Facebook and similar social media sites lack, a true look into consumers’ needs, provided by the consumers themselves.
Pinterest users to “pin” images to boards that center on their future plans, interests and wish lists; effectively giving marketers a tailored list of things a specific person is in the market to buy.
However so far, Pinterest execs have been unable to translate that information into a usable advertising platform for marketers.
New Offerings
Pinterest has kept user data relatively private in the past, but the company is expected to roll out targeted marketing tools in the coming months that will include more specific metrics and allow firms to see how users are interacting with their pins.
The company has promised to improve its advertising options by introducing promoted pins and a new “buy” button that gives users the ability to buy something directly from a pin.
If successful, Pinterest could see its value skyrocket in the coming year as advertisers clamor for better data and new ways to reach their target audience.
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