In order to meet this new user milestone, Pinterest has clear plans for continuing its global expansion. Recent partnerships with Red Bull and WeChat have already started to show results, with Pinterest reaching new audiences around the world. Additionally, the company is looking into ways to monetize its user base through advertising and other methods.
Idea Pins is a new short video product from social media company, which debuted in 2021. The product aims to grow its footprint over the format and monetize it through advertising. The product is designed to be user-friendly and easy for people to share with friends, family, and followers on social media platforms.
Pinners will be able to shop for products and videos on Pinterest using computer vision, which is a step in the right direction for the platform. However, there are still many products and videos that are not shoppable, which makes it difficult for users to find what they’re looking for.
Gen Z users are helping Pinterest grow its video business, as the social media platform posts strong gains in revenue. Videos contributed to half of Pinned content on Pinterest in the fourth quarter, demonstrating how this growing trend is affecting not just social media platforms but also advertising and marketing practices. With more attention being given to video across all industries, Pinterest may be able to continue attracting users and contributing revenue growth overall.
Short-form video is proving to be an important part of Instagram’s business, and the company is looking to continue growing its presence in this area. While more than 10% of Instagram’s engagement comes from video, it accounts for more than 30% of the company’s revenue. This suggests that marketers should focus their efforts on creating engaging short-form videos if they want toSuccessfully push through to customers on Instagram.
Pinterest has been rapidly expanding their reach in recent months, and short video advertising is one of the latest additions to their platform. Apart from generating clicks, companies can also use the format to generate brand awareness and engagement. In October, Pinterest partnered with major labels like Warner Music Group, Warner Chappell Music, Merlin, and BMG to allow users to add licensed music to their clips. This addition makes videos on Pinterest more engaging and exciting for viewers. With such a wide variety of content on the platform already, short video advertising will be an important way for businesses to get noticed by potential customers.
Although it is still in beta, YouTube’s new shopping feature could be a big player in the short video market. The feature allows users to purchase products featured in Shorts, which are often advertised on the platform. TikTok, meanwhile, is experimenting with a dedicated shopping feed just for its videos.
The Amazon Inspire feed is a mix of short videos and photos that give users ideas about shopping. Currently available only for U.S.-based customers, this feed has content from influencers, brands, and other users as well. This is an interesting new way to get people thinking about what they should buy and help them find the right items to buy.
Pinterest believes that its videochat app, which it calls “Stitch,” is different from other short video apps. It is not a scrolling app like Instagram or Snapchat, but rather a platform that lets users create and share interesting content.
Video shuffle is an upcoming feature on the Shopify website that will allow customers to view new and interesting videos while they browse through the product catalog. This feature is likely to be well-received by users, as it provides a way to keep them engaged while they shop.
The company is using its AI and computer vision team to help identify trends and products in videos so that the search engine can provide better results for users. This will help the company improve its overall user experience, which in turn will increase visitation to their website and business.
Following the job cuts and creator reward shutdown, Pinterest has been feeling the heat. A Recent survey conducted by Forrester showed that only 10% of Pinterest users are “extremely satisfied” with the platform, much lower than its rival Facebook (31%), Instagram (29%) and LinkedIn (26%). CEO Ben Silbermann has acknowledged that this could be a result of ongoing changes to how pins are promoted which could be seen as confusing or overwhelming for some users. However, he remains optimistic about Pinterest’s potential saying “despite some challenges along the way, we remain passionate about building an amazing product for everyone.” The company is currently revitalizing its products and working on new features in an attempt to regain lost users.
