Highlights:
- Pins and Idea Pins will be combined into one
- A new experience will be created, bringing together stickers, overlay text, video pins, and image pins
- Pinterest users will gain access to Premium features
- Pins will become linkable, increasing the users’ monetization ability
- All video Pins will gain advanced analysis metrics
- Pinterest has partnered with Amazon to monetize Pins
- Bill Ready, Pinterest’s CEO, wants to build a morally strong business model through the Pin monetization
Recently, Pinterest’s CEO, Bill Ready, announced that the company would be undergoing a big structural change in the near future.
The most important change is the combining of Pins and Idea pins which, if you don’t know, are Pinterest’s image and video posts.
The updated format would include stickers, overlay text, and a mixture of image-video content that’ll benefit all users, not just Premium ones.
According to Ready, all Pins will offer the option to include links, which should increase their monetizing potential substantially. Furthermore, all video Pins will feature more in-depth analysis metrics similar to those used by Instagram.
But Pinterest promises to retain its identity throughout this transformation. The platform will still focus on inspiring users and fostering a chill and creative-centric environment.
Collaboration with Amazon and Bill Ready’s Goals for Pinterest
As a show of determination, Pinterest announced a collaboration with Amazon to improve the company’s profitability and pave a path toward a more monetizable future.
The focus of this partnership is on improving Pinterest’s shopping process, especially its visual architecture. That’s because users already have transactional intentions when they come to Pinterest.
It’s just that they never seem to buy anything. And Pinterest has finally narrowed down the cause. It’s the shopping experience!
Amazon will bring third-party ads, access to more relevant brands, and tailored content, all of which will improve the user buying experience substantially.
The end goal is to make Pinterest shoppable and attractive for a userbase who already had buying intentions. It seems like a foolproof deal.
Bill Ready’s plan extends farther into the future, though. He’s planning on creating a morally-grounded business model that encourages users to improve their lives.
If Pinterest manages to make this business model work, we’ll be witnessing the emergence of the first-ever social media platform that won’t be preying on the needs and wants of its users.
Whether Pinterest succeeds in this or not remains to be seen!
