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Online scrapbooking site Pinterest is rolling out new tools today that should help them finally solve the peksy problem of how to monetize social media. The new tools—which will be free for business accounts, including fashion brands which have a strong presence on the platform—will show businesses the number of visitors Pinterest delivers to their websites, as well as provide information about user activity on the platform, such as stats on the frequency of clicks on a company's online photos, Reuters reports.
Pinterest is now one of the top 50 most-visited web sites in the U.S., and the platform has a history of purchase power: The average purchase off a pinboard is reported to net more than double those off a Facebook wall post or a tweet.
"The goal is really to help websites understand what content is resonating with people on Pinterest," Cat Lee, a product manager at Pinterest told Reuters in an interview. Well, that, and to make a boatload of money.
· Pinterest Offers New Tool, Lays Foundation for Monetisation [BoF]
· The 13 Most Innovative Fashion Companies [Racked]
· The Pinterest Gender Gap: Why Women Love It and Men Have Never Heard of It [Racked]