Launched in 2010, Pinterest is a social bookmarking site allowing users to build themed ‘boards’ of images, referred to as ‘pins’, share content and ‘like’ and follow the content of other users on the channel. Over the last year alone UK Pinterest traffic increased 786%, going from strength to strength, and resulting in a network of over 70 million active users worldwide today.
However, with the plethora of social media channels available businesses often overlook Pinterest, preferring to focus their attentions on Facebook, Twitter and YouTube. While the fashion and design worlds quickly jumped on board with Pinterest, recognising its huge potential as a visual marketing communications tool, many other businesses still fail to make the most of it.
So, what’s all the fuss about?
Hey Big Spender
Pinterest offers businesses a unique platform to visually promote their business and products and engage valuable users, with a huge 29% of UK Pinterest users falling into the highest income bracket.
Bringing Your Brand to Life
Pinterest allows businesses to generate a community of brand ambassadors - those who feel they identify with your brand and wish to be seen to publicly align with its values or perceived connotations. In turn, this promotes positive awareness and word of mouth, allowing your customers to promote your brand for you and expand its reach on a global scale. In fact, around 80% of total Pinterest pins are repins from other users/businesses and not originally sourced content.
Many businesses operate across international markets and it is critical to understand each individual demographic and how best to target them. For example, research has shown that in the US over 80% of Pinterest users are women who are primarily interested in fashion, design, crafts and hobbies, whilst in the UK the gender divide is almost equal with most searches conducted for business topics (marketing, public relations, and venture capital) and digital (blogging, SEO and web statistics). Make sure your Pinterest strategy, as with any digital marketing, considers appropriate persona analysis and targeting to amplify your chances of success.
The Price is Right
Pinterest is said to be a top traffic referral source, with Shareaholic ranking it as the fourth largest traffic source in the world and consumers reporting greater engagement with brands on this platform than social media giant Facebook. Due to the nature of the content on Pinterest consumers happily engage with promotional messages rather than avoiding them, illustrated by Pinterest pins which include product prices receiving 36% more ‘likes’ than those without.
More Than Meets the Eye
Pinterest allows you to generate a more holistic character and set of values around your brand. You can develop highly targeted boards, curating content from out with your organisation to avoid a ‘broadcasting’ communications approach and instead encourage engagement with your audiences via a more personalised and 2-way conversation format. For example, a theatre may look to curate content around themed boards such as “wardrobes/costume design”, the most “inspirational theatre settings”, top “set designs”, etc, or a brewery company may build boards for “drinks packaging we love”, “beers of the world”, top “recipes using beer”, and top resources for “brewing from home”. If you solely pin your company’s own content you will make your brand difficult to identify with and seem more sales oriented than customer-centric.
Seal the Deal
The value of Pinterest for business is evident - 69% of consumers who have visited Pinterest have found an item they’ve gone on to purchase or added to their ‘wish list’ of products.
As with any digital channel Pinterest should be measured against KPIs and measurable objectives, as part of your overall digital strategy.
If you want some help evaluating the opportunities available to your business on Pinterest or to generate an effective social media strategy please contact our digital experts today.