According to TechCrunch, Pinterest is more addictive than Facebook and has the potential to develop into an Amazon with a more social appeal. Valued at $2.5bn, Pinterest is on its way to generating more ROI. Its new Web Analytics tool is a move in that direction. The unique selling point (USP) of Pinterestâ€™s Web Analytics tool is to help members see what people are pinning from their websites.
The notion of a Pinterest web analytics tool is not new. Several third party companies such as Pinster, Pinalyzer, Pinfluencer and PinReach are providing this tool exclusively for Pinterest. The tools offered by these companies can measure pin performance, influence, traffic referrals and much more. Pinterestâ€™s recently announced services include outbound and inbound traffic to and from Pinterest, the number of users who have seen a pin, and a list of the most pinned, most clicked and most recent pins.
Though Pinterest appeared upbeat about the third-party analytics tool, it has started contemplating on the services which are complementary to Pinterest and which are not. According to Cat Lee, Product Manager of Pinterest, businesses that provide services that Pinterest does not want to build at this time can scale up the efforts made by Pinterest to provide users a better pinning experience. Such services include helping pinners with promotions, measuring level of engagement, managing email campaigns, helping run contests, and providing day-to-day support on how to use Pinterest.
The picture could change if Pinterest decides charge for using its API (Application Programming Interface) in future. As Pinterest is looking to build ROI, offering an API for a fee to select companies would help Pinterest increase its control on the way the data gets used, and a higher share of potential revenues due to this. However, according to Lee, this is an area that Pinterest is still exploring.
Right now, it seems that Pinterest is encouraging third party analytic tools that are complementary to its web analytics tool. Some claim that are doing a better job that Pinterest. Pinster, for instance, shows that its analytics are more comprehensive that Pinterestâ€™s.
Pinster claims that, like Pinterest, it is working on what solutions will benefit brands the most, and offering services the Pinterest is not: helping out businesses with running contests and helping new members understand the features of the platform so that they can make the most of it.