Good news or bad news first? Okay: good news. Pinterest today launched a basic free analytics too. Bad news (in some eyes): it’s done with an eye toward monetizing the popular image-based site.
According to the Wall Street Journal, Pinterest founder Ben Silbermann stated: “A lot of last year was keeping up with growth [the] the big change with touch-screen devices. This year, we’re building foundations to monetize.” Pinterest is actively attempting to avoid the pitfalls that have hit other social media start-ups attempting to monetize without providing basic services such as analytics.
Pinterest rolled out business pages last November, and setting up the analytics is a step in the right direction. Here’s what Pinterest said in the Oh, How Pinteresting! blog:
Bloggers, businesses, and organizations often ask us, “what are people pinning from my websites?” These website owners help create the content on Pinterest and we wanted to help them understand which pieces of content people find most interesting. Today, we’re pleased to announce Pinterest Web Analytics, a first step towards doing just that. Web Analytics gives site owners insights into how people are interacting with pins that originate from their websites.
Still unsure about the power of Pinterest and whether it’s worth the current $3.5 billion valuation? From TechCrunch today:
Last July, data from online sharing service Shareaholic showed that Pinterest beat Twitter, StumbleUpon, Bing, and Google in referral traffic. Furthermore, Pinterest users don’t just click over to e-commerce sites to ogle merchandise—they are 10 percent more likely to make a purchase than people who come over from other networks, according to data from e-commerce platform Shopify.
Pretty amazing for a site hardly anyone had heard of a year ago. Stayed tuned: it’s like that the next steps will be ads. Sigh.
To qualify for the new analytics feature, you need to have a business Pinterest page and verify your profile. I’m in the process of converting my account to a business one from personal now to check it out. How about you?