Pinterest has joined the ranks of social media engines providing paid advertising opportunities to its members. The photo and video social network announced on September 19 that it is launching a new option called promoted pins.
Similar advertising products are already available on other social networks like Facebook and Twitter. In the case of promoted pins, companies and Pinterest members will get a chance to pay for a specific number of views.
The promoted pins will appear on top of the respective categories, as well as on top of Pinterest searches.
Pinterest founder and CEO Ben Silbermann used a blog post to present the specifics of promoted pins. There will be no flashy and colorful banners in an attempt to keep the social network tasteful and visually pleasing. Pinterest members will also know whether a pin is appearing in a category because it belongs there or because it has been paid for.
The promoted pins will be relevant to Pinterest member searches. According to Silbermann, Pinterest will continue working on the advertising option based on the feedback received from members of the network.
Promoted pins are still being tested and are currently being used by just a handful of companies. As the social network gathers feedback and information about acceptance, promoted pins are expected to become more readily available to the public.
The new monetization feature is announced at a time when Pinterest is at the peak of its popularity. Pinterest ranks among the social networks where members spend the longest amount of time onsite. According to 2013 statistics, an average Pinterest user spends 89 minutes per month exploring content and interacting with other members. Currently, Pinterest reaches more than 46 million people in the U.S. alone.