Background:
Pinterest is giving brands and influencers more reason to partner up on its platform by opening its content marketing API to third-party influencer marketing platforms, helping brands and influencers collaborate more effectively.
Details and Implications:
Influencer marketing has existed on Pinterest for years but up until now it has been difficult to measure influencer campaign results. The new API roll-out is designed to make previously unavailable insights available to both brands and influencers.
Brands will get access to real time stats including an influencer’s monthly views, followers, impressions, click-throughs and saves. This will make it easier for brands to identify the influencers to partner with – those that create authentic content their audiences are connecting with.
Pinterest hopes that influencers will likewise be encouraged to create more compelling content in order to attract the interest of brands. Influencers can also benefit by using the third-party influencer marketing platforms to connect with more brands who want to hire them for a Pinterest campaign.
Pinterest recently surpassed more than 250 million monthly users and has stated that 92% of marketers that partner with influencers have found the tactic to be effective and 78% of consumers say the content from brands on the platform is useful.
Pinterest claims it drives 33% more traffic to shopping sites than Facebook and 71% more than Snapchat and that its content has a longer shelf life than other platforms – claiming that brand posts can drive engagement for up to 120 days. Therefore, it says that brands collaborating with high performing influencers on Pinterest could expect to see results on influencer-generated content long after it was created.
The influencer marketing groups that are part of the initial launch include AspireIQ, HYPR, Influence.co, IZEA, Klear, Mavrck, Obvious.ly and Open Influence. Pinterest plans to add more partners over the coming months.
Summary:
The influencer marketing space continues to grow and becomes more competitive. Opening its content marketing API to third-party influencer platforms is Pinterest’s latest effort to grow its influencer business and revenues and mark its territory in the advertising space ahead of a planned IPO next year.
Further Reading:
Pinterest Blog | Business Insider | MediaPost
