Existing social media giants such as Facebook and Twitter have a new competitor in their midst: the visual, online billboard site Pinterest.

Pinterest, launched in 2010, is an online bulletin board that allows users to organize images into specific categories and, if your followers like or re-pin your posted images and links, they can go viral.

How is this useful for advisors and businesses?

The up-and-coming site is currently one of the hottest new tools in social media, with more than 7 million unique visitors in December. It is touted as being one of the most powerful referral tools, and as a great way to promote your business and products along with a link to your company website.

In addition, you can add specific boards such as “Insider Tips” or “Top Trends” where you can link to industry news.

Find out more about Pinterest, and how you can use it engage clients in new and creative ways.