Pinterest And Instagram Launch ‘Buy’ Buttons To Maximize Revenue
Popular social media sites Pinterest and Instagram have announced plans to debut “Buy It” and “Shop Now” buttons in a bid to maximize their advertising potential.
Fans of the online pin board can now buy products they see on Pinterest by simply tapping on a blue “Buy” button that can be seen beside the “Pin It” button. This new feature will apply to the more than 2 million pinnable items and will cut off affiliate marketers from the loop. Payment can be done via credit card or Apple Pay.
Unlike Pinterest, Instagram is mostly ad free, with only a handful of advertisers appearing on the photo sharing app. But now that the Facebook-owned company is really pushing to monetize its services, it will open up ads to any brand and allow retailers to directly link to products from their ads.
Right now, users can see products by using the guided search and boards and through the home feed. But it will soon be adding search filters so users can narrow down their search based on price and other product details.
Instagram will also be using its Facebook connection to improve their ad targeting. It will not only use information on the user’s Facebook profile (like age, gender and location) but also by the things the user “liked” or clicked on.
These changes will only affect Pinterest and Instagram users in the U.S. initially. However, Instagram is set on expanding this on a global scale this year. So far, there are no indications that Pinterest is also aiming for a worldwide update.
This move to a more commercialized approach is inevitable, as retailers and marketers have been waiting for a chance to utilize the apps’ massive advertising potential.
So how do PR agencies view this development?
Most of the movers and shakers in the marketing industry acknowledge Pinterest and Instagram’s importance.
As Jasper Nathaniel of insights platform Crowdtap explains, “Pinterest and Instagram have emerged as leading channels for brand and product discovery.”
So it was really only a matter of time before the two would change their advertising strategy in order to close the gap between social media and economics.
It’s an idea that Dave Weinberg, the CEO of Loop88 agrees with.
“With Buy It Pins, marketing campaigns are taken to the next level for agencies and clients,” he explains. “Buy It pins take those pins and makes it possible for people to buy and reach the ultimate conversion.”
It also allows small online companies to expand and introduce their products to people who might never have heard of them.
[Image via Pinterest/Instagram, edited by Val Powell]
