Pinterest plans to make more of its user data available to advertisers, as the social media scrapbook looks to further capitalise on its popularity. In an interview with the Wall Street Journal, Pinterest executive Don Faul said the firm would allow marketers to see data indicating what its users intended to buy. Currently, Pinterest only […]
Pinterest plans to make more of its user data available to advertisers, as the social media scrapbook looks to further capitalise on its popularity.
In an interview with the Wall Street Journal, Pinterest executive Don Faul said the firm would allow marketers to see data indicating what its users intended to buy.
Currently, Pinterest only makes limited types of information, such as a user’s gender and location, available.
Faul agreed that Pinterest was often used to bookmark things users wanted to purchase, saying it was not a “traditional user-generated content platform, it’s a place where people are coming to discover new businesses, new brands and new products”.
The firm could also let advertisers combine their own data with that of Pinterest, allowing them to target their existing customers who use the site.
They could potentially “re-target” potential customers who visited their store but did not buy anything.
The comments follow the launch of a beta version of Pinterest’s first advertising product, called Promoted Pins early last year.
The company claimed success last month and rolled out the product to all advertisers from 1 January this year.
In October last year, it was valued at $5bn (£3.33bn), but was still searching for ways to generate revenue from its large users’ database.
