Pinterest is looking to cut itself a larger share of the $14 billion global influencer marketing business by enabling content creators to monetize pins.
The social media platform is now offering support for affiliate links, allowing influencers to make commissions on sales they help drive. Influencers will also be able to tag products in its story-like Idea Pins that can help them drive additional sales and add a “paid partnership” label within Idea Pins.
“Pinterest is the place where creators with inspiring and actionable ideas get discovered. With this latest update, we’re empowering Creators to reach millions of shoppers on the platform and monetize their work,” said Pinterest’s Head of Content & Creator Partnerships Aya Kanai.” Creators deserve to be rewarded for the inspiration they deliver to their followers, and the sales they drive for brands.”
To drive engagement within the influencer community, the app is enabling content creators to search and integrate available product pins into their Idea Pins.
Initially, the product tagging feature is only being made available to business accounts in the U.S. and U.K., but the company plans to expand access to content creators in other markets in the coming months. Meanwhile, the company’s paid partnership tool is initially being made available in the U.S., U.K., Canada and 16 other countries.
The company’s announcement comes just a month after its rollout of the Shopping List feature, which lets users save product pins in one place and receive notifications for product drops. The company has also rolled out a “Goods by Pinterest” feature that enables shoppers to get exclusive access to products by various DTC brands such as Brooklinen, Olive & June and Outdoor Voices.