Is Pinterest the New Facebook?

(Image Source: Pinterest )   BY JIM FLINK Heard of Pinterest? If not, you might be missing out on the next Facebook. Or at least -- so says a poster on Pinterest -- now making the rounds. It asks -- is Pinterest the next social commerce game changer? There seems to be evidence it could be. Interest in Pinterest rose 429 percent from September to December 2011. Same store referral traffic to five specific retailers rose 389 percent. And, in December, Pinterest was second only to Google -- in retail referral traffic. So, all of a sudden, people with absolutely no clue about Pinterest -- are indeed -- taking an interest. The site works like a virtual scrapbook, letting users share images of whatever they find interesting. Mashable notes -- growth seems to be the six-letter word driving interest in Pinterest. “The darling network of brides-to-be, fashionistas and budding bakers now beats YouTube, Reddit, Google+, LinkedIn and MySpace for percentage of total referral traffic in January... Pinterest’s traffic increased more than fourfold between September 2011 and December 2011, bringing in 7.51 million unique visitors in December alone....” But Mashable also points out, there is scant data for true conversion between referrals and buyers. Still, Forbes notes, Pinterest wants its users to do three things -- consume, create and share. The faster that happens -- the more Pinterest seems to grow. “Pinterest has what I call an ‘obvious secret,’ the kind of insight that creates breakaway non-consensus companies. An obvious secret is when a startup has discovered a deep insight about its users, which is not obvious to the outside world, but is the key to the business’s success. However, to those who do not know this insight, the company appears to be little more than a novelty.” Pinterest does have some competition in the pinning game -- GimmieBar, for example, has features Pinterest doesn’t. And Search Engine Journal notes -- there are things that aren’t intuitive when it comes to pinning. “You can’t pin anything from a Flash site, which is still a favorite of many high end retailers, so that is a completely missed opportunity. More subtle problems arise with product sites that offer nifty image preview tools. If you are a savvy user, you can click on ‘switch to JPG view’ and be able to pin that image, but most people will not know to take that extra step.” Once over some of those hurdles, Pinterest is pretty simple to use, so long as you’re not averse to its requirements. Aced Magazine was -- at first. “There isn’t much thinking involved, as Pinterest immediately sets up followers based on what categories appeal to you (ie: fitness, technology, photography, etc.). I initially did not like the idea of following Pinterest-ers whom I knew nothing about, but then I realized the goal of the network is to find IDEAS from others that inspire your own.” The Wall Street Journal has called Pinterest -- one of the hottest new media sites on the web. The Toronto Star asks Pinterest veteran and retail consultant Christina Martinez if that presents a problem. “The danger is that if it is overtaken by corporate interests, it may lose its charm, much of which is based upon the gentle tone and DIY projects... But Martinez says, Facebook and Twitter have survived corporate invasion and she thinks Pinterest will too.”