Pinterest Monetization: New Features for Creators

Pinterest Enhances Creator Monetization Options

Pinterest is significantly expanding its support for creators by introducing new features designed to enable them to generate revenue directly from their content. These updates allow creators to tag products within Idea Pins, transforming inspirational content into shoppable experiences.

New Monetization Tools

Creators can now leverage affiliate links and establish brand sponsorships, mirroring opportunities available on platforms like Instagram, YouTube, and TikTok. This move acknowledges the growing importance of the creator economy in driving product discovery.

Over the past few years, influencer marketing expenditure has risen dramatically, increasing from $1.7 billion in 2016 to $13.8 billion in 2021. Pinterest’s introduction of Idea Pins in May served as the initial step in providing creators with tools to capitalize on this expanding market.

Understanding Idea Pins

Idea Pins function as Pinterest’s adaptation of platforms like TikTok and Stories. They provide creators with a medium to produce engaging content incorporating music, video, and interactive elements.

Each Idea Pin can consist of up to 20 pages, with videos extending to a maximum of 60 seconds per page. Creators can further enhance their pins with features like stickers and music, and also tag other creators using their @username.

These pins differentiate themselves by including “detail pages” that offer supplementary information, such as recipe ingredients or step-by-step instructions for DIY projects.

Shoppable Pins and Product Tagging

The latest update introduces the ability to tag products directly within Idea Pins. This allows users to seamlessly transition from inspiration to purchase within the Pinterest app.

However, the purchasing process differs from Instagram’s direct shopping experience. Pinterest’s product tags initially lead to a dedicated product page on Pinterest, requiring an additional click to reach the retailer’s website for order completion.

Early testing of this feature involved creators like Olive + Brown, Fall for DIY, and UnconventionalSouthernBelle, who have already begun utilizing product tagging in their content.

Rollout and Availability

The Idea Pins product tagging tool is currently being rolled out to all business accounts in the United States and the United Kingdom. Access will be progressively extended to international creators in the coming months.

Affiliate Programs and Brand Partnerships

Pinterest is also introducing support for affiliate programs, including integrations with Rakuten and ShopStyle, enabling creators to earn revenue through product recommendations.

A beta tool is available for creators collaborating with brands, facilitating the disclosure of these partnerships to their audience. Branded content within Idea Pins will feature a “Paid Partnership” label after brand approval.

This paid partnerships functionality is presently accessible to select creators in the U.S., U.K., Canada, Australia, Ireland, New Zealand, France, Spain, Italy, Germany, Switzerland, Austria, Sweden, Brazil, Argentina, Mexico, Chile, Colombia and Peru.

Catching Up to Competitors

While these new tools are valuable, many are not entirely novel. Pinterest is actively working to align its creator offerings with those of larger social media platforms like Facebook, Instagram, TikTok, and YouTube.

These platforms have increasingly focused on empowering creators to build sustainable businesses and expand their reach. Instagram, in particular, has become a significant competitor in the shopping inspiration space.

Pinterest’s Unique Value Proposition

Pinterest differentiates itself by emphasizing its user base’s inherent shopping intent. The platform witnessed a 20x increase in product searches by the end of 2020.

Furthermore, Pinterest users demonstrate an 89% higher likelihood of exhibiting shopping intent when encountering products tagged in creators’ Idea Pins compared to standard pins. The company is positioning itself as a hub for inspirational content, distinct from platforms focused on “influence and entertainment.”

Aya Kanai, Pinterest’s head of content and creator partnerships, stated, “Pinterest is the place where creators with inspiring and actionable ideas get discovered. We’re empowering creators to reach millions of shoppers and monetize their work. Creators deserve to be rewarded for the inspiration they deliver and the sales they drive for brands.”