“If you look at
the most successful [Web] companies, they really find a great
intersection between what people are there to do and what advertisers
want to do. They make it pretty transparent.”
Executive Summary
If Pinterest is to
survive on advertising, the focus should be on seamlessly integrating
the user purpose and experience with the advertiser’s goals2.
The site also needs to be transparent about its model to respect its
user base. Pinterest’s current users can be split into 2 main
camps: Inspiration-seekers3
(those who come to the site to be inspired) and Influencers (those
who are heavy users of the site and have significant followings).
Influencers will serve as intermediaries to help better connect the
purpose of the Inspiration-seekers with that of the advertisers,
without having advertising content come off as too contrived. The
benefit to Influencers is receiving a payment for agreeing to feature
up to 20% promoted content on their Pinterest boards. The benefit to
the Inspiration-seekers is that the integrity of the experience will
be preserved while at the same time suggesting additional
inspirational content through advertising. To preserve the
experience, Advertising content has to be seamlessly woven, such as:
1) paid search which suggests content related to the user’s search
2) “You might also like” suggestions based on user’s recent
pins 3) “Pinterest suggests” items based on user’s past search
history. This Free/Advertising model is a viable proposition, with a
unique Multi-Sided platform twist by using the Influencers as an
intermediary between the Advertisers and the Inspiration-seekers to
help preserve the Inspiration seeker experience4.
Sources:
1
MacMillan, Douglas, Jan. 21, 2014. “Pinterest CEO Lays Out Growth
Plan.” Wall Street Journal.
2
This is the beauty of the Google business model: users are Googling
for a purpose, and the paid advertisements Google shows are related
to what users are actually seeking so both advertiser and user
benefit. Facebook’s business model is more challenging because
advertisements on a friend’s sharing site may feel more intrusive.
3
“Inspiration-seekers” and “Influencers” are terms I
developed
4
Osterwalder, Alexander & Pigneur, Yves, 2010. Business Model
Generation.
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