Swot Analysis Of Pinterest

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PINTEREST
Started in 2010 and estimated to be worth $ 7.7 billion dollars, Pinterest is one of the fastest growing social networks of today. In January 2012, it was already driving more referral traffic than any other social networking site including Google+, YouTube, Reddit, and LinkedIn combined. Visitor-wise, it is the third most popular social network close after Twitter and Facebook). Forbes points out that the reason it is so successful with online retailers is that users tend trust and act on Pinterest recommendations more than other social network.
Pinterest is a website that lets users collect and share photos online with what is called a “virtual pin board”. It has amassed a very dedicated user following which spreads far beyond
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While browsing online, one can click the images that interest them, open the ‘Create Pin’ browser, and drag the image onto the board. The user can enter a description for the pinned image and sort it to various pin boards. Pinterest also has options to follow other users’ pin boards. The business model rests on selling advertising based around hyper-targeted user interests gathered through the pins. A robust dataset is needed, to sell ads against.
PINTEREST FOR BUSINESS
Pinterest has, in 2013, crossed the milestone of being the second largest driver from social media sites after Facebook.
Facts about Pinterest:
• On an average, one pin drives 2 site visits and 6 page views.
• Pinterest surpassed Facebook for e-commerce related sharing in Q3-2013.
• 69 of the world’s top hundred brands are on Pinterest.
• Average Pinterest users clock 1 hr 17 mins/month on Pinterest compared to Twitter (36 mins) and Facebook (12.1 mins)

Pinterest has become the word-of-mouth for social media in the true sense. It suggests viral activity, as is shown 80% of the pins on the website are re-pins.

PINTEREST FOR MARKET
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the newest pins made from your website. It gives you an insight on which ideas of yours are resonating with your audience.

Pinterest is an incredibly cost efficient platform to research to aid content curators, ad and website development teams in strategic conceptualisation of marketing materials, websites, and advertisements online.
The popularity of the social media website has led to the creeping up of other third party Analytics tools to help the brands understand and research better. They also have capabilities to analyse how much revenue, purchases, website visits/clicks was generated from particular pins.
CONCERNS

Pinterest is targeted for delivering value to content creators. However, pinning and repining creeps in copyright concerns, privacy invasion concerns, and concerns on the confidentiality and integrity of the users’ content.
Re-pinning or pinning images owned and created by someone else could very fall in the category of breach of their copyrights and could attract legal action against the user.
Pinterest however encourages users to thus pin the content directly from the source website and not downloading and then pinning it on to their pin
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