In case you haven’t heard, Pinterest has announced that it’ll be expanding its Creator Fund program, which was designed to help support budding Pinterest creators to better build their presence on the platform. Each platform now focuses on providing creators with better monetization options to encourage and incentivize them to stay and post more often, which, in Pinterest’s case, will depend on how much creators can get out of their Pin efforts.

Enter Your Pin

Launched in April of 2021, Pinterest’s Creator Fund has already helped a range of Pin creators boost their presence in the app. Those who were able to participate saw around a 2.9x increase in Idea Pin impressions, while also increasing their monthly views by as much as 72%.

Through this new initiative, Pinterest hopes to support even more creators:

“Through cash grants, ad credits, and equipment, Pinterest will invest $1.2 million in underrepresented creators. The first of four cycles in 2022 is focused on Fashion and Beauty, and is sponsored by L’Oréal USA.”

The updated program, as noted by Pinterest, will focus on creators from underrepresented backgrounds. The program will include four Creator Fund cycles that will differ each quarter. These are:

  • Fashion/Beauty

  • Wellness

  • Lifestyle/Home

  • Food

Pinterest says that a more specific, topic-based approach will enable deeper learning for chosen creators in each field. At the same time, Pinterest will extend its training program from four to five weeks to allow for even more insight and development. The participation of L’Oreal and other sponsors is sure to provide loads of industry knowledge.

To add, Pinterest is also looking to make its Creator Fund available to more regions later in the year. The fund is currently only available to US participants, but that’ll change soon enough, especially when you consider that the vast majority of the Pinterest audience is based outside the US.

Building a more inclusive platform places Pinterest well within growing industry trends. It’s a key pillar of the platform and sees it also expanding its hair pattern search tools to more regions. The Creator Fund forms another element of Pinterest’s expanded approach to audience inclusion and support while enabling top Pin creators to get more benefits. This all blends in well with the platform’s larger ‘Creator Economy’ focus, which has all social apps now seeking to maximize appeal to top stars.

The Wrap

Right now, it seems that everything is becoming a race for each social network to give its top stars the best offer to prevent them from seeking more opportunities elsewhere. While Pinterest seems like more of a niche offering compared to most, the fact that functions and formats start becoming more common across apps – i.e adopting Stories, Reels, etc. – means that the skill set required for creators to succeed in each app also become increasingly similar.

With this, a top creator on Pinterest could be the top creator on another platform that allows them to make more from their efforts. This is something that Pinterest must negate where it can, which is why its Creator Fund is such an important element in its broader growth strategy.

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Sources

https://bit.ly/384oq89