{"id":675,"date":"2015-09-13T23:25:24","date_gmt":"2015-09-14T03:25:24","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-digit\/submission\/pinterest-dont-forget-to-pin-it-on-the-winners-board\/"},"modified":"2015-09-13T23:41:40","modified_gmt":"2015-09-14T03:41:40","slug":"pinterest-dont-forget-to-pin-it-on-the-winners-board","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-digit\/submission\/pinterest-dont-forget-to-pin-it-on-the-winners-board\/","title":{"rendered":"Pinterest: Don\u2019t Forget to Pin it on the Winner\u2019s Board"},"content":{"rendered":"<p>In October, it\u2019ll be my wife\u2019s birthday, and a couple years ago, I would have gone through the long and highly stressful process of:<\/p>\n<ol>\n<li><strong>Guessing what she likes. <\/strong>Does she want to take a trip somewhere? Would she want a necklace? What about a new dress?<\/li>\n<li><strong>Figuring out her \u201cstyle preferences.\u201d<\/strong> Are crop-tops in these days? Does she still like white gold necklaces, or is she becoming a fan of the new rose gold trend?<\/li>\n<li><strong>性视界ing through dozens of websites and or\/stores to find that \u201cit\u201d piece. <\/strong>Does Macy\u2019s even have what I want? Should I think about buying a gift from somewhere that allows her to easily return it if she doesn\u2019t like it?<\/li>\n<li><strong>Planning how to present the gift to her in a creative and caring way.<\/strong> Should I plan a scavenger hunt for her? What other cool ways can I make this gift-giving process a little more exciting, while making her realized I really tried this year (<em>as if I hadn\u2019t the years before<\/em>).<\/li>\n<\/ol>\n<p>&nbsp;<\/p>\n<p>These days, my life has become infinitesimally easier \u2013 <strong><u>THANK YOU PINTEREST<\/u><\/strong> (and yes, I absolutely needed to capitalize, bold, and underline that comment).<\/p>\n<p>&nbsp;<\/p>\n<p>Pinterest is a <a href=\"https:\/\/en.wikipedia.org\/wiki\/Content_Discovery_Platform\">content discovery platform<\/a> that users use to bookmark (\u201cPin\u201d) pictures of interesting items they find online \u2013 from products and recipes to anniversary and wedding ideas. These pictures are all organized onto user\u2019s Boards based on specific categories\/tags the user designates to the pictures (e.g., my wife\u2019s board conveniently includes \u201cneed to buy\u201d and \u201cgifts\u201d categories). But Pinterest doesn\u2019t just allow you to view the Boards of people within your social network. You can see almost anyone\u2019s Board, which has been instrumental for me as I can quickly (through one website) search and choose\u00a0romantic date activities (namely DIY activities) to spice\u00a0things up every now and then.<\/p>\n<p>&nbsp;<\/p>\n<p>The reality is that Pinterest has become one of the great and highest growing (Exhibit 1) social network platforms in the world, and it\u2019s because it creates value for everyday users by:<\/p>\n<ul>\n<li><strong>Serving as an inspiration board<\/strong>. When I\u2019ve got some uncooked chicken left in the fridge, I occasionally search through Pinterest to find some great-looking dishes that can get my creative juices flowing.<\/li>\n<li><strong>Allowing individuals to connect with others. <\/strong>When my wife was planning our wedding, she and her bridesmaids constantly shared their favorite pictures for flower arrangements, table cloths, etc.<\/li>\n<li><strong>Understanding what products, dishes, and activities (to name a few) your friends like. <\/strong>I actually used this to find out what style of engagement ring my wife liked (it was pretty clear she wanted something with a thin band).<\/li>\n<\/ul>\n<figure id=\"attachment_653\" aria-describedby=\"caption-attachment-653\" style=\"width: 300px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/d3.harvard.edu\/platform-digit\/wp-content\/uploads\/sites\/2\/2015\/09\/sdd.png\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-653 size-medium\" src=\"https:\/\/d3.harvard.edu\/platform-digit\/wp-content\/uploads\/sites\/2\/2015\/09\/sdd-300x276.png\" alt=\"\" width=\"300\" height=\"276\" srcset=\"https:\/\/d3.harvard.edu\/platform-digit\/wp-content\/uploads\/sites\/2\/2015\/09\/sdd-300x276.png 300w, https:\/\/d3.harvard.edu\/platform-digit\/wp-content\/uploads\/sites\/2\/2015\/09\/sdd.png 458w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-653\" class=\"wp-caption-text\"><strong>Exhibit 1.<\/strong> Social networking sites growth rates<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>However, it\u2019s not just the digital consumers receive value from Pinterest, businesses have also benefitted from the platform, since it:<\/p>\n<ul>\n<li><strong>Advertises company products (seamlessly and almost invisibly) and helps generate revenue.<\/strong> Many of the Pins posted on the site are \u201cPromoted Pins,\u201d which are advertised products that fall into the categories users search. However, these Pins don\u2019t look like your traditional advertisement; you probably wouldn\u2019t even notice the ad (Exhibit 2) unless you really liked and clicked on the product. Further, with its new <a href=\"http:\/\/blogs.wsj.com\/digits\/2015\/06\/02\/pinterest-adds-a-buy-button\/\">\u201cBuy\u201d feature<\/a>, users can directly buy items from their Pinterest Boards. Companies are now more likely to receive sales from these ads, as they do not lose potential buyers who prefer not to switch programs, search for the item, and then buy.<\/li>\n<li><strong>Enables companies to track popularity of their goods. <\/strong>REI and Nordstrom have <a href=\"http:\/\/www.usnews.com\/news\/articles\/2014\/08\/26\/pinterest-helps-startups-get-discovered\">leveraged Pinterest to determine what they sell \u2013<\/a> both in stores and online, based on what users like, share, and pin.<\/li>\n<li><strong>Increases online exposure via SEO optimization. <\/strong>When companies add their products to Pinterest, the pin descriptions enable companies to have an optimized online search presence.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/d3.harvard.edu\/platform-digit\/wp-content\/uploads\/sites\/2\/2015\/09\/asdasdad.png\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-652 size-medium aligncenter\" src=\"https:\/\/d3.harvard.edu\/platform-digit\/wp-content\/uploads\/sites\/2\/2015\/09\/asdasdad-300x232.png\" alt=\"\" width=\"300\" height=\"232\" srcset=\"https:\/\/d3.harvard.edu\/platform-digit\/wp-content\/uploads\/sites\/2\/2015\/09\/asdasdad-300x232.png 300w, https:\/\/d3.harvard.edu\/platform-digit\/wp-content\/uploads\/sites\/2\/2015\/09\/asdasdad-600x463.png 600w, https:\/\/d3.harvard.edu\/platform-digit\/wp-content\/uploads\/sites\/2\/2015\/09\/asdasdad.png 901w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><strong>Exhibit 2.<\/strong> Pinterest tries to almost secretly show advertisements, as users only notice ads if they read the light grey &#8220;Promoted Pin&#8221; text at the bottom of the image.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>As Pinterest grows its user base (<a href=\"http:\/\/expandedramblings.com\/index.php\/pinterest-stats\/\">now at 72.8 MM users<\/a>), the platform provides companies with easy access to numerous consumers, and because of this, Pinterest is now positioning itself capture the value of that community. By 2016, analysts estimate that Pinterest will capture over <a href=\"\/blogs.wsj.com\/digits\/2015\/06\/02\/pinterest-adds-a-buy-button\/\">$500 MM in ad revenue<\/a>. And while the company currently does not take a percentage or fixed sum from sales generated by the \u201cBuy\u201d button, it certainly could do so in the future, should it make business sense.<\/p>\n<p>&nbsp;<\/p>\n<p>Pinterest\u2019s journey in the digital age is just beginning, and by creating significant value for both general users (i.e., consumers) and businesses, it\u2019s certainly positioning itself for long-term success. For me, Pinterest has been a lifesaver. So, once again\u2026 thank you Pinterest. You\u2019re a winner in my books!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pinterest\u2019s journey in the digital age is just beginning, and by creating significant value for both general users (i.e., consumers) and businesses, it\u2019s certainly positioning itself for long-term success.<\/p>\n","protected":false},"author":79,"featured_media":679,"comment_status":"open","ping_status":"closed","template":"","categories":[658,18,291],"class_list":["post-675","hck-submission","type-hck-submission","status-publish","has-post-thumbnail","hentry","category-advertising","category-digital-winner","category-pinterest"],"connected_submission_link":"https:\/\/d3.harvard.edu\/platform-digit\/assignment\/digital-winners-and-losers\/","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pinterest: Don\u2019t Forget to Pin it on the Winner\u2019s Board - Digital Innovation and Transformation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/d3.harvard.edu\/platform-digit\/submission\/pinterest-dont-forget-to-pin-it-on-the-winners-board\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pinterest: Don\u2019t Forget to Pin it on the Winner\u2019s Board - 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