Pinterest is a visual bookmarking tool, or an online corkboard of sorts, where users can discover, create and curate collections of content in the form of images and videos. Users are able to create boards that are based on different interests and then post – or “Pin” in Pinterest lingo - content onto their boards that is related to the board’s theme. It a platform where users can, essentially, pin their interests.
This is the third article in a three part series on overlooked social media platforms for business. The first post examined how businesses can use Instagram, and the second explained Snapchat and the benefits for marketers.
Who’s using Pinterest?
Pinterest currently boasts 176 million users, 100 million of whom log on to website every day. It is a fast-growing channel that affords marketers an opportunity to engage with customers effectively. Pinterest is unique in that 85% of its users are female, allowing companies to reach a very specific demographic.
However, Pinterest is slowly gaining popularity among men as well as. According to Pinterest, male monthly users have grown by 129% this year. And despite originally being popular among Generation X and older millennial users, Pinterest is beginning to increase in popularity among millennials, as they comprise 65% of the platform’s users.
As users can browse and share content in order to unearth new ideas, consumers have the opportunity to hunt and gather information, making the platform a goldmine for businesses. Pinterest allows you to increase your page’s visibility through the “Repinning” of content by users, which is similar to Retweeting on Twitter or Likes on Facebook. This allows your content to have a broader reach and spreads your brand’s message further than just the people who are following you.
Why is Pinterest important for my business?
It has been found that nearly 75% of active Pinterest users have purchased products as a result of the platform. Conversion rates on Pinterest are also 50% higher than those of any other social media website, meaning that it is a great tool to use if you are looking to increase traffic to your website.
Looking at the larger picture, a whopping 47% of all online shoppers have made purchases through Pinterest recommendations! The bottom line is, if you are not using Pinterest as a business-owner, you are losing out on almost half of the online shoppers.
What businesses should be using Pinterest?
While all businesses can definitely benefit from increased referral traffic, it is important to note that, as the platform is a niche social network, some businesses will be more suited to Pinterest users than others. As previously stated, Pinterest’s demographic comprises largely of female millennials. Pinterest is, therefore an important tool for some industries and relatively unimportant for others, so it is crucial to evaluate your business’s offering before committing to the platform.
Pinterest is good for:
Mid-to-large companies with some existing brand awareness
Companies targeting women or other demographics who are more frequent users of the platform
Companies with visually compelling products or solutions
Pinterest is particularly beneficial for online stores as users can go straight from Pinterest onto the webpages of products, thus increasing referral traffic. It is also beneficial for companies that sell products related to events, such as weddings, as well as companies that specialize in home improvement and DIY products, as users tend to turn to Pinterest for inspiration on various projects related to their interests.
What should your business share on Pinterest?
Pinterest, like Instagram is a highly visual platform, giving businesses an opportunity to capture consumers through visual media. The content you share, therefore, needs to be original and visually compelling. This can be achieved through the use of high-quality images as well as the use of infographics in order to educate the target audience on a given topic.
Companies like Indigo have achieved great success through the use of this platform, reporting that they have seen a doubling in social traffic and a 50% increase in conversions through the use of the website. The key is for companies to sell a lifestyle and not just the product through Pinterest accounts.
This can be done by creating boards and following other users who are offering products that their potential clients would find interesting in order to create a following. This is also a chance for you to influence a customer’s purchase, as 66% of users say that they use the platform to save and collect things that inspire them. You can achieve this with your page by posting inspirational and actionable Pins that can help consumers to plan for the next purchase.
Choosing Pinterest for business
As with many other tools, Pinterest is an important social media tool that can do wonders for your business. The key is to make sure your product is the right fit for Pinterest’s audience as well as to continually produce high-quality visual content that is compelling to your customers. Get it right, and you will inspire them to incorporate your product into their lives!
Bridge the Gap Marketing Solutions can help you find the social media platform right for your business and audience. We've worked with large and small organizations to develop actionable strategies and manage social media to help build awareness and increase customers. Learn more on our Social Media page.