Pinterest managing innovation and change
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Pinterest is a user-friendly social media platform with high user engagement, particularly among women. While well-suited for visual brands, it provides limited value for non-visual brands. As an e-commerce tool and platform influencing lifestyle changes, Pinterest faces potential legal issues and competition from other sites. The document discusses how Pinterest can focus on growth and profitability while maintaining its culture.
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Pinterest managing innovation and change
- 4. General users and business users Credits: The power of Pinterest from internetmarketinginc.com
- 8. •User-friendly • 80% users are •High user women engagement • Limited use for non-visual brands •E-commerce sites •Potential legal issue •Lifestyle change •Competitors
- 9. Where do we want Pinterest to go? 3. Culture 1. Growth 2. Profit
- 10. Media Coverage Founders Investor Business Users Online Photographers Retailers, Blogger Comscore Outsourced Casual Users partners Employees
- 13. Business Model: Infrastructure
- 14. Business Model: Finances
- 15. Kotter’s 8 steps model
- 16. Kotter’s 8 steps model
- 17. Kotter’s 8 steps model
Editor's Notes
- Pinterest is a social media platform conceived around the concept of a virtual pinboard. They provide personalized online space for users to collect, organize and share images of creative objects that inspire them. Each image or video on a board is called a pin. This concept expands, by letting other users repin other users’ itemsthey find interesting, connecting the re-pinning user to the original user’s board.
- Strategic Technology: Pinterest Is a leader in self evolving platforms, and is creating the future of how people share ideas onlineis maintained by user content, so will become whatever users create it to be
- The Pinterest platform is gaining attention not just from creatives who initially grabbed onto the concept, but also casual users who are joining in exponential numbers as well (and we could even see the shift during this project from inspirational image they used to have to more ordinary or uninteresting photos)-Is primary women: focused on style, home, food, inspirational quotes, etc.-Companies are gaining presence on Pinterest as well, but they have to take a non-traditional approach to marketing due to current rules banning promotion
- Mission: to connect everyone in the world through the things they find interesting.Purpose: less defined because they are a FREEMIUM model and do not currently seek profit37.5 mil in investments, but since they are private they do not share their goals.
- Strengthsfree and user-friendly online platform to filter and organize content, which they utilize to connect people based on similar interests, not just friendship.high user engagement, generating more than 1 billion page views per month Brands use Pinterest as an insightful tool for customer research, trending information or marketing campaigns (Vivier, 2012)WeaknessesPinterest’s audience is primarily women, making it less mainstream Dthan Facebook or Twitter.Non-visual brands have limited use for Pinterest as a marketing tool.Pinterest defaults to users to self-regulate the unauthorized use of copyrighted images. Some users have shut down their pin boards because of fear of legal issues (Shontell, 2012).Pinterest’s narrow focus OpportunitiesE-commerce sites are interested in Pinterest because they found that it drives more traffic to their sites than LinkedIn, YouTube and Google+ combined (Fox, 2012).Amazon and eBay recently added Pinterest buttons to their deck of social media sharing options on the product pages (Burns, 2012.)Due to the information overload era people are actively seeking a lifestyle change, seeking ways to organize, filter and consume less stressful content.Pinterest is becoming a tool for educators. Teachers share tips and use the site for improving their school experience (The Daily Dot, 2012.) ThreatsMany of the images that are uploaded by Pinterest users are copyrighted, exposing the company to potential legal issues similar to Napster (Poletti, 2012).There are many Social Media platforms that are similar to Pinterest. “Spring Pad 3.0” is a tool that helps people collect and collaborate with peers on upcoming project (Empson, 2012.)Pinterest could be overrun with the commercial interests which would make them digress from their intended purpose.Pinterest’s profit approach might change negatively the user experience, creating discontent and discomfort, motivating members to discontinue their usage.
- The new business model is broken into 3 parts, which we’ll label A, B and C grouping purposes. Part A is made of the customer segments, value propositions, channels and customers relationships. Part B consists of key resources, activities and partnerships. Finally, part C consists of revenue streams and the cost structure.