Pin-fluencing: What You Need to Know About Monetizing Your Pinterest
When most people think of Pinterest, they think of mood boards, outfit inspiration, and DIY craft ideas. Most people don’t think of influencers. Amidst the development of influencing on social media in the last 10 years, Pinterest has continued to separate itself from other platforms by focusing less on social interaction and more on sharing ideas and inspiration for things people love.
That being said, Pinterest is entering the influencer game – but not like any other social media platforms. They are providing multiple ways for users to monetize their original and shared content on the app through brand partnerships, shoppable pin links, and their new “creator rewards” system.
Some people may think that it’s not worth giving “pin-fluencing” a shot, thinking the platform isn’t large enough for the type of clicks and views that make money. However, this isn’t the case. According to Statista, Pinterest had 433 million monthly active users (MAUs) as of the second quarter of 2022. Sure, this is a fraction of the billions of users that Instagram or TikTok have, but that adds benefits; the influencer space is much less crowded on Pinterest compared to apps like them.
Differing from other social media, Pinterest is only requiring creators to have 250 followers in order to start profiting off original content with the creator rewards system. This allows the everyday person who has a strong creative voice to be able to share their ideas and make money, as opposed to only celebrities or internet sensations occupying the influencer space.
Let’s take a look at the possible routes to take:
Brand partnerships are not a new concept in today’s influencer market. Brands have been utilizing influential personalities to sell their products for years at this point. However, Pinterest only released their “Paid Partnership” tool in 2021, more than a few years behind the curve. A benefit of working with brands on Pinterest is their clearly laid out steps and guidelines. This method involves a creator working directly with brands, and payment goes from brand to creator.
The Pinterest website provides a fool-proof step-by-step of how it works:
- Create an Idea Pin
- On the Finishing touches screen, tap Advanced settings
- Toggle on Add paid partnership label then select Add a brand partner
- Search for the brand to tag. A creator can tag only one brand per Idea Pin
- Select Add beside their desired brand
- Select Add on the Approval needed popup window. Before the request is submitted to the brand, the Idea Pin must be published
- The selected brand now appears in the Advanced setting screen for review
- Return to the Finishing touches screen and click Publish
Make Your Pins Shoppable:
Another creator-brand transaction, using shoppable links on posts makes it easy for other Pinterest users to see what sweater is pictured, or what those slipper dupes are. No gatekeeping the good stuff here! Creators can make commission agreements with brands so every purchase made through their Pinterest post results in them receiving a percentage of the payment.
This method also comes with numerous metrics to track which posts and products are getting the most traction. This helps brands and creators see what is creatively working and what isn’t.
The newest addition, Creator Rewards is the program Pinterest has developed itself, and is currently in trial with select influencers. According to Pinterest, the mission statement for this program is to “pay creators for inspiring, actionable content.” Here’s how it works: Pinterest releases editorial prompts in the creator hub, with each prompt giving a goal relating to engagement, such as a certain number of saves on a pin. When creators are able to meet the engagement goals, they are then compensated the following month. Currently, the program isn’t available to all users, as it is in its trial phase. They are adding new participants consistently and will continue to release updates on the progress of the program in the Creator Hub.
The criteria for eligibility for Creator Rewards currently includes:
- Use the Pinterest app on your mobile phone
- Be 18 years or over
- Be a legal resident of, and located in, the United States or the District of Columbia
- Have at least 250 followers
- Have created at least 3 Idea Pins in the last 30 days
- Have 150 saves of your published Pins in the last 30 days
- Create original content
The content requirements are as follows:
- Be original content
- Align with our creative best practices
- Not violate our Community guidelines
- Meet the reward goal engagement requirements*
- Meet the reward goal editorial guidelines
- Meet the terms and conditions of the program
- Not be paid or promoted content
With all the information, rules, creativity, and technology involved, things can get confusing. Pinterest has made their app very accessible for creators, providing all the information and resources needed for success.
A few of these resources include the creator newsletter, which informs subscribers about “product launches, emerging trends and inspiring content ideas.” Anyone is able to subscribe to the newsletter. In addition, Pinterest has a Creator Hub, which is under all business accounts, showing metrics, post performance, links to blogs with informational tools, among other things. Lastly, Pinterest provides examples by highlighting different types of creators who are currently part of their Creator Rewards program and successfully navigating the app.
For more tips, advice, and strategies on all things marketing and branding, check out the rest of Power Move Marketing’s blogs.
Author: Kathryn Stratz