It has never been easier OR more difficult to own and operate your own business than it is today. The web has completely transformed the way that we all do business. Now, for the first time in human history, it’s possible to start up a global operation with nothing more than $15, a domain name, and a vague idea and be competing directly against some of the biggest businesses on the planet.
This is a double-edged sword, however.
On the one hand, since it is so easy to build your own business, you are going to be able to do so without too terribly much risk and without too terribly much danger. On the other hand, because it is so easy, EVERYONE else (and their brother) is going to be building their own business as well.
You are going to be up against some pretty stiff competition! Not just established companies, but newbies just like you. That’s why you need to unlock the leverage that social media has to offer, especially when it comes to Pinterest. One of the most popular social media platforms on the planet, the overwhelming majority of people on Pinterest are women (close to 80%), and 70% of those users have purchased something either directly from Pinterest or because of Pinterest.
Can you make money on Pinterest?
Social media has opened up marketing and advertising opportunities that never existed previously. With social media, you’ll have the chance to dominate your market without having to spend a lot of money on marketing – as long as you are savvy about how you go through the process.
With more than 100 million people to market to, there is an opportunity to make money on Pinterest. Some sources claim “the average order value of sales coming from Pinterest is $50 – higher than any other major social platform.”
HOW do you make money on Pinterest?
Unfortunately, Pinterest recently banned making money from affiliate links. Previously, affiliate links earned money when users clicked on your specific link to a product and made a purchase. If you are what is known as a “Pinterest Power User”, a Pinterest competitor known as Keep has launched its own affiliate program. Although Keep’s Influencer Program is by invitation only, you can fill out a short application to see if you qualify.
While affiliate links no longer are a source of revenue on Pinterest, several brands are active on Pinterest and some are in search of people to run their social media marketing campaigns.
Pinterest claims there is still ways to make money, such as being paid to curate a board or participating in paid social-media marketing from a board, which involves Pinterest. An experienced crafter can find countless opportunities to learn via Pinterest, and Pinterest boards offer boundless ideas and inspiration.
You can sell your own products using “buyable pins“. You could also consider creating contests to sell your own products on Pinterest. To sell your brand, create Pinterest boards that attract an audience and followers, then create a mailing list.
Once you’ve established a track record of using Pinterest successfully, you could also make money by teaching your strategies to others via e-books and courses.
Tools to Make Money on Pinterest
Buyable Pins:
This type of Pin lets people find and PURCHASE your products on Pinterest. After a merchant is approved for Buyable Pins, Pinners will see Pins with a “Buy It” button that links back to the merchant’s store. When a Pinner chooses to buy a product on Pinterest, order details and payment information are sent to the merchant for processing. Buyable Pins are only available to a select group of retail partners and U.S. merchants with Pinterest business accounts.
Pinterest is testing Buyable Pins with merchants on select commerce platforms. If you’re on one of their supported platforms and want to use Buyable Pins, follow these steps:
1) Review our policies to see if your business is eligible
2) Create a Pinterest business account, or convert your personal account
3) Apply for Buyable Pins (Shopify), purchase the Creatuity plugin on Magento or sign up for the waitlist on your e-commerce platform. (Demandware, Bigcommerce and IBM Commerce).
Shopify:
If you are a Shopify store owner, there is a free app called ShopConnection, it works not just with with Pinterest, but Tumblr, and Fancy buttons and makes it much easier for your community to shop.
How to use Shopify
You can use the Pinterest sales channel to add Buyable Pins to your products on Pinterest. This lets customers in the U.S. using the Pinterest iOS or Android app purchase your Shopify products directly on Pinterest with Apple Pay or their credit card.
Here’s how the Pinterest sales channel helps you build your business:
1) You can sell your products using Buy it buttons directly on Pinterest
2) Automatically enable Buyable Pins for any of your products that have already been pinned on Pinterest (by you or anyone else)
3( Manage Pinterest orders easily with other active sales channels in your Shopify admin.
To get started, make sure your store meets Pinterest’s eligibility requirements, add the Pinterest sales channel in Shopify, and then connect your accounts. Products must meet Pinterest’s product requirements before they can be Buyable Pins.
