Pinterest has released a new extension of its Creator Fund program, which is intended to assist Pinterest creators in establishing a presence on the site and monetizing their Pin efforts so that they may continue to post more frequently.
Pinterest’s Creator Fund, which was introduced in April 2021, has already helped a number of Pin creators improve their visibility in the app, with participants receiving 2.9x more Idea Pin impressions on average and improving their overall monthly views by 72 percent.
Pinterest’s effort will now attempt to promote even more creators. As the company claims:
“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 revised program, which will focus on artists from underrepresented backgrounds, will have four Creator Fund cycles, each with a distinct focus each quarter, according to Pinterest. Fashion/Beauty, Wellness, Lifestyle/Home, and Food are the initial areas of concentration.
Pinterest claims that the more focused, topic-based approach will allow the chosen creators in each industry to study more deeply and that the training program will be extended from four to five weeks to provide even more opportunities for insight and development. L’Oreal’s and other sponsors’ participation will also provide further industry information.
Pinterest is also planning to expand the Creator Fund to new regions later this year, in addition to extending the program. The Creator Fund is available exclusively to participants in the United States, but it will soon be open to even more applications – an important step given that the vast majority of Pinterest’s audience is based outside of the United States.
Pinterest’s approach includes making the site more accessible in various ways, with the app recently extending its hair pattern search options to other locations. Hair Type Search offers users to filter searches with six different hair patterns using object detection and computer vision technology: coiled, guard, curly, straight, wavy, and shaved/bald. This means that a user can limit down a broad hair-related search, such as “hairstyles” or “hair color suggestions,” by picking one of six various hair patterns.
The Creator Fund is part of Pinterest’s broader strategy for audience inclusion and support, as well as a way for the company to ensure that top creators receive more tailored rewards – in the hopes of keeping them more engaged with the app and producing more material for their followers.
