Pinterest, the popular social bookmarking network, announced today that it has updated its pins to provide greater information through increased brand partnerships. The change could potentially shift user behavior from aspirational viewing towards actual purchasing.
For the estimated 48.7 million site users who decide to opt into the new site redesign, three new recipe, movie, and retail product pins will be available for use.
Recipe pins will connect users to third-party food sites and blogs to provide relevant cooking information like ingredients and cooking times.
Movie pins will add links to features such as film reviews, ratings, and rental information.
Perhaps most important for the company's profitability, product pins will provide users information on item pricing, availability, and location.
A broad mix of prominent brands and major retailers have already partnered with Pinterest by adding tags and links to to their respective websites. Some of these companies include: Whole Foods, Epircurious, Martha Stewart Living, Netflix, Rotten Tomatoes, Flixster, eBay, Neiman Marcus, Walmart, and Target. In addition, the company has made available its "Pin It" button within several new mobile retailer applications.
While it is currently uncertain whether or not Pinterest is monetizing the new brand partnerships, the moves could be a necessary step needed for the company's long-term viability. Assuming that users remain engaged with the site, the strong corporate interest in the new pins thus far is certainly an encouraging sign of future success. Adapting from the traditional advertising based to a direct click-through purchasing business model could be an evolutionary step forward.
Undoubtedly, Twitter and Facebook will be watching closely.
