Would you trade your iPhone 6 for a Nokia Ringo? What if I threw in $500? What if I threw in $1,000?
Let me guess. Your answer is probably a very strong 'no'.
Why do you think that is?
The Ringo is a hell of a phone and $1,000 is a hell of a lot of money. The reason is simple, both of those devices are great phones, but only one of those devices sits at the center of a globe-spanning developer ecosystem that spurs and rewards innovation in an unprecedented way. The lesson is clear. Take something great. Add an ecosystem and associated infrastructure. Suddenly you have something vastly superior and more profitable for everyone involved.
Today, the social networking industry is experiencing a similar transformation. Pinterest, already a hugely popular and important social channel to marketers, has launched a partner ecosystem that will vastly improve the experiences of its users, usefulness to marketers, and value to investors.
Pinterest already has an audience of 79 million users. That audience is remarkable. 80 percent of Pinterest users are women with an average household income of 100,000 dollars. That's 63.2 million women congregating in one place explicitly engaging around products, experiences, personalities, and brands they love and are ready to buy. Beauty products retailer Sephora reports that per-capita, its Pinterest followers spend 15 times more on products than its Facebook followers. That kind of data is gold to marketers. Now imagine a fully functional ecosystem built around this amazing audience.
The Pinterest partner program and the associated capabilities provides the infrastructure brands need to access that audience and create amazing experiences at scale. Think of these new capabilities as the sophisticated tools and infrastructure marketers really need to extract value from the Pinterest audience. Sprinklr is a launch partner for the program and a number of our clients around the world are saying that this announcement is what savvy marketers have been waiting for to really get the job done on Pinterest.
"We value the powerful combination of visual content and data," said Jeremie Moritz, Global Digital Content and Media Manager at Pernod Ricard. "(Pinterest's) move will improve our ability to share our brand story more widely, efficiently, and thoughtfully."
Luisa Ercoli, Global Diversity and Inclusion Manager and former Group Social Media Manager at Barilla Group, shared, "With this partnership, we are eager to scale out our Pinterest strategy to understand the behavior and needs of our audience. Food-related content is the number one category of content on Pinterest, and this integration will allow us to wholly take advantage of the platform."
Brands will now be able to:
Extract more value, much more easily. Pinterest already generates more e-commerce activity than any other social platform, but though that traffic has been an asset, it's also been a bit undirected and difficult for marketers to influence. Without the right tools marketers haven't been able to unleash the full creativity of their agencies on the Pinterest audience. From granular product boards, to re-usable digital assets, to carefully timed campaign activations, everything just got much easier.
Integrate Pinterest into strategic campaign planning, by integrating the network into a marketing calendar of existing activities on Pinterest and other platforms. By working with a sophisticated partner, marketers will be able to plan, launch, and measure cohesive experiences across every social touchpoint - in one place and at scale.
Manage experiences comprehensively in a new channel. The scariest aspect of entering a new social network for most marketers is the brand risk that comes with it. Without the right tools, how can you manage engagement and ensure a consistently excellent experience? Well, to be honest you can't. This partner announcement changes that.
The new ecosystem surrounding Pinterest will enable marketers to build amazing experiences for an incredibly valuable audience.