Pinterest could turn into an absolute monster for e-commerce, and we’ve been waiting to see what it would do to push that forward. We found out today with the company’s announcement of new tools for the business community. Previously, businesses weren’t all that welcome on the service, since its terms of service prohibited it. For reasons.
Pinterest says that thousands of businesses are using the site and sharing content, including companies like Anthropologie, but can now do way more. To help those businesses do more and, perhaps more importantly, earn more, the company has new business terms that it discussed on its blog today:
We now have two sets of terms—one for people and one for businesses. The business terms help guide businesses on how to use Pinterest. They also enable us to separate the provisions meant for businesses from those meant for regular people. As a result, we updated our user terms to be half as long. We also took the opportunity to simplify the language as much as possible. Unfortunately, terms of use are one of those documents that requires a certain amount of legalese, so we’ve offered “translations” of these sections, too.
Companies can now officially convert their existing accounts into business ones here:
Once you’re all signed up as a business, there are now tools in place for companies to have a “real” presence on the site as well as on their own:
– Verify your website. The verification badge helps people identify high-quality sources of content and more easily find the business whey want in search results.
– Add new buttons and widgets. Integrate the Pin It button, Follow button, Profile widget, or Board widget to get more engagement from pinners and traffic back your site.
– Access to upcoming features. Receive updates on future products and services that will provide more powerful ways of reaching and understanding your audience on Pinterest.
We explored what the ROI is for companies posting on Pinterest, and there are tools to help you find that out. Pinterest knows this better than anyone, hence today’s announcement.
It’s not just about features, though; Pinterest is dedicating itself as a company to hand-holding these companies to make the site work for them. All of the things you’d expect were announced today, including case studies, best practices and guides on how to use the site properly.
Whether you’re using the site for business or pleasure, it’s hard to ignore that there’s a massive opportunity for brands to not only make money, but also build awareness for their products. People pin things daily, and I see tons of clothing, shoes, electronics and accessories. Those things cost money to buy, and Pinterest could be a phenomenal purchasing point.
The company has raised $138 million to date, and its value will continue to increase as long as people keep using it. When I watch my Facebook News Feed, I certainly don’t see usage slowing down. In fact, my mom posts things to Pinterest under a board called “Sewing.” I was impressed.
The site is often imitated, and we joke in our back-channel that the Internet is going through a “Pinterestization” phase where designers are adopting its look and feel for their own products. Heck, we just compared a company to them today.
Think of Pinterest as Amazon, but social. In fact, Amazon is thinking of them in that way, too. Your move Bezos.
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