As introduced in our Growing Audience with Pinterest post, there are many reasons for magazine publishers to consider the Pinterest platform as a way to extend the reach of their content.
And, while Facebook, Google, and Amazon see 62.2 percent of all new advertising go to them, there are definitely reasons to consider Pinterest as a place to generate additional revenue.
When these Pinterest best practices and these Pin Tips are kept in mind, posts can be leveraged to drive traffic to the publisher’s website. Pinterest posts can also be used to create a “shop window” and drive traffic to the websites of a publisher’s advertising clients.
What tools and techniques are available to monetize Pinterest?
Affiliate marketing is one of the most obvious methods, made easy on Pinterest by using an affiliate link on a pinned image.
Here’s an example of affiliate marketing from Robert Glazer, CEO of marketing business Acceleration Partners. In the article, he states, “A publisher might have an upcoming listicle about the best coolers, for example, and then reach out to affiliates to see which companies will pay higher rates to have their coolers featured. They would then connect to the retailer’s affiliate network or direct program, set up an account, and receive a monthly check for the commissions.”
Pinterest’s Shopping Ads tool also helps brands scale their ad presence on Pinterest. Early Return On Ad Spend (ROAS) reports have been good for businesses such as Lowe’s and IKEA. This includes reaching people early in the marketing funnel and getting pins in front of people who are exploring the platform and discovering items they didn’t know they needed.
The fact that pins can be shared and referenced perpetually is a bonus of Pinterest, prompting Pinners to tap through to websites well after Shopping Ads have been posted.
Additionally, Pinterest has an assortment of tools for content publishers. For example, users can create Pincodes, which are links to specific profiles and the pin boards associated with business accounts. These Pincodes can be placed in print publications and strategically placed so readers are encountering them offline. The Pincodes can be scanned with the Pinterest app, taking readers to the corresponding profile or board.
Pinterest also provides buyable Shop the Look Pins, enabling publishers to place tappable dots on pinned images and linking audience directly to eCommerce shopping sites where users can make product purchases. These pins enable publishers and their advertisers to track and attribute sales to specific promotional efforts.
Magazine publishers may also find other methods being used to leverage Pinterest to generate revenue. The Huffington Post, The New York Times, and BuzzFeed provide examples of how sponsored content can be used.
Some organizations are paying media companies to publish the content they’ve created, typically marking the content as sponsored. This method could be used by publishers to charge a fees to business owners who are featured in the content, extending the reach of the publisher’s brand and that of their advertisers. This can be made appealing by posting photo badges on the publisher’s website that are also pinned to featured boards on the publisher’s Pinterest account.
Other points to consider:
- Pinterest should only be part of a multifaceted plan to drive and monetize traffic to content.
- Content created for Search Engine Optimization (SEO) continues to be an important part of a publisher’s digital presence. Business Insider’s Kevin Tran noted in 2018 that search engines “have begun to display more links to social media content directly in their search results, and this contributed to search overtaking social referral traffic.”
- Despite search engine referrals, Tran also noted that Pinterest continues to see growth in referring traffic to publishers, with the platform accounting for 7.5 percent of publisher’s website traffic in the second half of 2017, up 6.1 percent from a year before.
- Keeping site speed in check is also important, particularly in relation to referral traffic from mobile pages. As Mediavine’s Publisher Support Manager Heather Tullos notes, working with Pinterest’s Rich Pins tool in conjunction with the Accelerated Mobile Pages (AMP) publishing technology caused problems with traffic monetization. She ultimately chose to monitor page speed with Google’s PageSpeed Insights to strike a balance in her monetization efforts with Pinterest and search engine traffic.