The Pinterest phenomenon has been around since 2010, but its popularity has really taken off in the last six months. Pinterest is becoming a new form of social media all on its own. Unlike Twitter, Facebook, MySpace or LinkedIn, it’s possible that this picture pinning form of social media may soon evolve and become a form of marketing that rivals all the other social media sites combined.
This form of social media can be great marketing strategy and very helpful in the world of PR. Using Pinterest as a method of business can bring in more revenue to a company that otherwise could have been overlooked. The founders of Pinterest brought something new to the world of social media and marketing. The more hits and accounts that are made, the more profitable they become.
Pinterest is also working with a marketing company called Skimlinks service. For example, the brand Esty is all over Pinterest. Esty’s sales have increased and it’s evident that the company Esty is working with Pinterest to market their company that sells make-up, jewelry, nail polish, and clothing. Pinterest also allows the option to sign in through Facebook. If people sign in through Facebook, Pinterest can sell the demographics to marketing companies.
Pinterest, however, has not revealed exactly how they stay profitable, which is causing uproar in the blogging world. On Pinterest’s website they mentioned that they are funded by entrepreneurs and investors. As a public relations specialist, Pinterest seems to have done everything correctly for an up and coming company, except explain to the public about the specifics of their operation. They do not have advertisements floating around their site, which is a huge source of income for sites such as Facebook and Pandora. People are wondering how they maintain such a successful site. They feel Pinterest is being shady about how they function and wonder if it’s even legal.
Building a trusting relationship is a great tactic when it comes to public relations. People are so attracted to the website and if fans are worrying about the legality issues they may fear the website will close down. Being open and honest about the way they operate will clear any bad blood, and provide reassurance to the fans.
I also think that once this confusion is cleared up with the public, Pinterest should try to broaden their audience. Pinterest is dominated by women and they should work with more firms that target males.
Pinterest is user-friendly and will easily catch attention. Public relations practitioners need to be aware of their demographics and target their products accordingly. For example, the majority of users are female. Until Pinterest adjusts their demographic, then Pinterest should primarily be used to reach out to females.
VP of Special Events and Coordination