Pinterest, Instagram Announce ‘Buy’ Buttons
They’re pinning their hopes on commerce. The popular social networks have both announced rollouts of new monetization strategies. Pinterest plans to offer “Buyable Pins” later this month that could, for example, deliver all the ingredients for your favorite pinned recipe to your door. Instagram, meanwhile, is testing a new advertising format that will include “Shop Now” buttons, enabling its more than 300 million users to purchase sponsored products that appear in the glossy ads in their feeds. And both companies hope the new features will paint a pretty picture for profits.