Blog Post 2- COMM0011 – Social Media – Time Sucker or Time Saver?

It struck me recently, that I would be lost without Pinterest. Almost in the way I would be lost without my husband. ( I meant to say google, but he may read this one day … ) If I need an answer to a nagging question, I simply google it. When I need inspiration, I turn to Pinterest !  Pins

The Lure of Pinterest to Women Like Me

Last weekend, after spending a few hours, scrolling through images, I found my husband’s next project. The laundry room! In our house, I am in charge of research; he is in charge of production, though he may like to think otherwise.

Research underway; I thoughtfully began pinning a collection of laundry room images to share. So many options could work in the space, but above all, it needed to be functional. Dreaming about improvements online took time, and in the end, the opportunity cost of time spent on Pinterest, meant no wasted time on magazine purchases or repeated trips to home depot.

I know this because it is the route I would have taken 10 years ago BP (Before Pinterest). Managing my design choices through Pinterest required fewer inspirational magazine purchases and less time travelling. I am saving money and leaving a smaller carbon footprint!

Inspiration Born Out of Need  

Phase 1: Tearing Down Closet

Phase 1: Tearing Down Closet

The laundry room makeover started because we needed to remove closet doors in the mudroom. These closet doors and a close-by rear entry door made getting in and out of the house tricky. Usually someone was hurt maneuvering past an open closet door, and opening one to go in / out of the house!

IMG_2095 IMG_2097

I am happy to report great progress on weekend 2 of the laundry room, aka- mudroom project. Closet is removed, drywall patching complete, tiles replaced, and trim and bead board are going in. Youtube was a great help for the floor-tiling portion of the project. A ‘How To’ video, ensured broken tiles were removed and replaced properly. Youtube videos are as valuable for learning project techniques as Pinterest is for inspiring project ideas!

Phase 2: Progress 

Progress Weekend #2

Progress Weekend #2

What Does The Future Hold for Pinterest?

With most of these nascent social media successes, I have tried to understand their business model. No sense getting attached to something if it is not here for the long haul. Pinterest has reached critical mass. They have been well funded and have a large user base. Much like Facebook when they began. What revenue model will sustain them long enough to innovate for the next generation?

No surprise, I found out Pinterest future lies in a monetization strategy that will likely rival google’s paid search advertising revenues. Pinterest has a lot more to offer advertisers. Unlike google, you don’t need to know what you are looking for on Pinterest to find something. According to Jillian D’Onfro, of Business Insider (!IZfm5 ) their product and image driven environment accounts for 23% of referral traffic to e-commerce sites. The company is valued at $30 billion US dollars, with a user base of 40 million projected by the end of this year. It is evident a strategy is being tested and put in place to earn revenue through advertising.

Facebook and Twitter have gone public and have a monetization model in place. Pinterest may be the biggest of these social prodigies to go public yet! So much potential for a company that understands its market niche (80% women) and their buying behaviour. Jeff Bercovici’s recent article in Forbes highlights the Pinterest phenomena, that could dwarf twitter and facebook here

That’s All Good for Pinterest, But What Does it Mean For Me?

Likely, that Pinterest is here to stay. They are the largest in their market if consolidation were to occur, so that makes me feel good. It means I can continue to freely pin and be inspired by images, to my hearts content. The advertising? As long as it is tasteful and relevant to my searches and interests, I’m ok with it. On the plus side, it may even point me in the right direction when I decide to make a purchase!

3 thoughts on “Blog Post 2- COMM0011 – Social Media – Time Sucker or Time Saver?

  1. Thanks for your post. I definitely have a better understanding of Pinterest. Until now, I’ve been wondering why so many use it. Myself, I’ve felt frustrated ending up on the site (through search), seeing an interesting picture and clicking on it, expecting it to bring me to an interesting website. Now I avoid it like the plague because of how frustrated I felt. Silly me, it took some time to realize that it’s really just like a photo book. I can see from your experience how handy it can be for specific projects, for inspiration, etc. We have a couple of small home reno projects to do, so maybe I’ll have another look.

  2. I am a Pinterest addict and my sleeping hours get affected by this. I love, love love it! It saves me so much money as I don`t have to buy so many magazines (cooking, decoration, weddings, etc.) I also really like their new feature, which allows you to send messages with the images that you pin on your friends’ boards.

    I have recently been appointed as Maid of Honor for my friend’s wedding… well, isn’t Pinterest just the perfect place for it! It allows me to do some research and share the discoveries with The Bride to be.

    A tip if you have not seen this already; Ikea hack. It gives you great ideas and suggestions about things that you can do with Ikea furniture or accessories. Some people are very creative.

    Have fun pinning, after all, an image is worth a thousand word!

  3. I love the title of your blog! we can all have hazy, lazy days of internet surfing on social media sites or we can google stuff that is we really need, as for social media sites and advertising, it is a really interesting subject as I was reading today that Facebook now have over 1billion users daily worldwide but they attract a more “mature” audience so they are working on advertising platforms that is geared towards this audience which makes perfect sense. I’m guessing the companies who used to advertise in your magazines will now be spending advertising dollars on social media sites along with Home Depot… Let me know when Pinterest goes public, I want to buy some shares!! Very interesting article.

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