In response to Brooke Besley’s blog post about Pinterest, it has been found that Pinterest is the “fastest-growing platform for online sharing.” As mentioned in Brooke’s blog, Pinterest has recently started experimenting with advertisements as a source of revenue. They have begun allowing businesses to add “Pin It” buttons to their websites. This is especially useful for small businesses that are trying to establish brand recognition. Pinterest is a highly visual medium that allows businesses to catch the consumer’s attention through beautiful pictures of their products or services. Although Facebook and Twitter have been proven to work, I agree with Brooke in that visual marketing can be much more effective for certain types of products and businesses.
Investors are also jumping onto the Pinterest bandwagon as they see the potential in this visually focused form of social media. Pinterest is able to track exactly what their consumers are wanting to purchase and from what site they plan to purchase them from. This is an easy way for companies to know exactly what their consumers are looking for. Pinterest still has yet to make any money, but this promising social media site a start-up current worth at $3.8 billion. That’s pretty impressive for the “digital equivalent of cutting photos out of magazines.”
Pictures: http://www.josintheknow.com/wp-content/uploads/2013/05/Jos.In_.The_.Know_.Pinterest.jpg
http://rack.2.mshcdn.com/media/ZgkyMDEyLzEyLzA0L2FmL3BpbnRlcmVzdGJlLjU3US5qcGcKcAl0aHVtYgk5NTB4NTM0IwplCWpwZw/258bfeb5/070/pinterest-behind-the-design-of-an-addictive-visual-network-dd27b017d9.jpg
References:
“Why Investors Love Pinterest So Much.” Bloomberg Business Week. N.p., n.d. Web. <http://www.businessweek.com/articles/2013-10-24/why-investors-love-pinterest-so-much>.