At the second annual Pinterest Creators Festival, the platform introduced a variety of fresh features to highlight and empower creators, with a focus on shoppable and video content.
Introducing TikTok-like elements including a vertical scrolling Watch feed tab, Pinterest is shifting towards a more engaging model meant to shine a light on creators and provide them with more opportunities for monetization.
Pinterest’s new $20 million Creators Rewards program was unveiled at the festival – the first in-app monetization opportunity of its kind for creators. This feature will pay creators for their content, giving them the chance to participate in cash prize challenges. Similar to Snapchat’s Spotlight Challenges, this monetization incentive will encourage users to create top-performing content and harness as much engagement as possible. Included in the Creators Rewards program is the opportunity for creator grants so they can bring their new ideas and passions to life.
This exciting step towards financially supporting creators comes after Pinterest’s Creator Fund concept, which premiered in April in partnership with Amazon’s Associates Program. The goal is to provide new financial opportunities for underprivileged creators by providing economic and educational support. By allowing creators to tag their products, earn commission, and make their pins fully shoppable, Pinterest takes a step towards financially supporting the creators who bring meaning to the platform by sharing their original ideas.
According to research conducted by Dynata for Pinterest, shoppers who visit Pinterest weekly outspend non-Pinners by two times every month and have an 85% larger basket size. So, this monetization opportunity for creators is a great way to help put money in the pockets of artists who drive the inspiration, inclusivity, and passion that Pinterest is built upon.
Pinterest introduced the interactive Takes feature, inviting Pinners to share their own experiences in response to video “stories” pins, called Idea pins. Idea pins are clips used to show how to make a recipe, create a makeup look, decorate a room, etc. When Pinners respond with their take, they get the chance to share their own version of how the idea turned out. Similar to the TikTok feature, Duets, this engagement tool allows users to connect with creators in meaningful ways. The Create Your Take campaign to promote this new feature included stars Megan Thee Stallion, J Lo, and Storm Reid.
New, interactive stickers for Idea pins, stronger video editing and recording tools for Idea pins, integrated AR try-on tools to stimulate e-commerce, and a new Profiles tab to highlight individual creators were also introduced at the Creators Festival.
Plus, the Creator Originals series was announced to run through January 2022, featuring over 100 creators in 10 different countries. The content series will teach Pinners a variety of new skills, inviting them to try the concepts themselves by engaging with the Takes tool. Check out the Daily Inspiration section of the Pinterest search tab to find this educational series.
Pinterest’s shift towards highlighting and supporting creators will drive more engagement and financial sales for makers across the world, emphasizing the need for inclusivity, access, and opportunity for online creators.