Swot Analysis : Pinterest Is An Online Bulletin Board Essay

Swot Analysis : Pinterest Is An Online Bulletin Board Essay

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SWOT Analysis
Pinterest is an online bulletin board social network that allows users to repin different things they like to different virtual bulletin boards, follow users with similar interests, and share things they find interesting on the platform. Although Pinterest is a popular social network in general, because of the affinity for the site to be used for DIY projects, recipes, crafts, home decor, and recent fashions, it especially excels within the adult millennial demographic and tech-savvy moms looking for opportunities to get more organized and find fun activities to do with kids. An incredible strength for Pinterest is that it provides such a unique service and because of the different kinds of unique content optimized for the platform, it serves as a versatile platform. In the same sense that Tumblr is optimized for image-based posts with commentary, Pinterest is uniquely optimized for step-by-step recipes, activities, and DIY tutorials (especially popular with aficionados of popular lifestyle blogs like Refinery29 and GOOP.) Because Pinterest attracts a very specific demographic, the focus of the platform serves as a huge strength for marketers. The inherent weakness of Pinterest as a social network is that the popularity and continued growth of social networks is entirely cyclical. The story of MySpace has served as a cautionary tale to all social networks that the life growth-share matrix of social networks operates a lot more quickly than it did in the days of companies like Polaroid. Even as marketers gain traction with the content being posted on Pinterest, the platform itself needs to be versatile and translatable to other growing social networks as well. In the same way that companies like Facebook have acquired...

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...ng to live on, beyond just this platform? Facebook has done an exemplary job of sustaining their company a bit more through the acquisition of Instagram, similarly to Twitter with the acquisitions of Vine and Periscope (notably, even before they were truly developed and publicly released as applications.) In order to face the challenge of user stall, user complacency, and, finally, user drop-off, Pinterest will need to continue to diversify the ways in which they reach their target demographics and the people that love using the platform. They should zone in on the matters and sites that make their demographics tick, like lifestyle blogs in the vein of Refinery29, GOOP, and Lauren Conrad. By keying in on their influencers in addition to focusing on mergers and acquisition, Pinterest will be able to continue to thrive in the competitive world of modern social networks.

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