Pinterest is a site where its users go for inspiration, products, and projects. There are a few great reasons why Pinterest is a key social media channel for businesses. Firstly, the majority of Pinterest’s users are women. “Women make 85% of all purchasing decisions across industry sectors be it technology, cars, houses, pharmaceuticals or any other.” (Carter, 2016) Pinterest has over 176 million registered users globally and women make up about 85% of that number. (Smith, 2017) With these statistics mirroring, each other, it’s not hard to see how that could correlate into successful marketing on Pinterest. Looking a bit further, women are also a source of multiple markets in one as they usually handle the purchases for the other people in their households (I.E. children, spouses, parents or in-laws). This means that businesses wouldn’t have to only market to women.
Secondly, Pinterest links refer traffic to business websites which lead to more conversions. The key is to create pins that people want to click on and learn more about. You can do that by doing the following:
- Use longer pins as they typically get clicked on more and pins with multiple products get approx. 30% higher click through rates and 20% higher checkouts. (L, 2016)
- Create “Look Book”, “Before and After” or “How to wear it” pins that make products more appealing and give more consumers inspiration to buy whether it be to wear or DIY projects.
- Use promoted pins- Consumers are 5X more likely to buy your products when they see your promoted pins on Pinterest. (L, 2016)
Finally, with the launch of Pinterest’s cost-per-thousand impressions (CPM) bidding, it is a great channel for awareness campaigns. Their Awareness campaigns will focus on reach and charge advertisers by CPM. (Eining, 2016) This will allow businesses to reach more people and get their products seen by people who may not have heard of them before. Overall, Pinterest serves as a valuable social media channel for businesses and given the continuous rise of female consumers, promoted pin options for traffic, and CPM based campaign capabilities, it will continue to prove beneficial.
Carter, L. (2016, March 7). What Women Want: Brand Buying Power in 2016 and Beyond. Retrieved from http://www.personadesign.ie: http://www.personadesign.ie/what-women-want-brand-buying-power-in-2016-and-beyond/
Eining, A. (2016, August 18). PINTEREST – AWARENESS CAMPAIGNS. Retrieved from https://keymediasolutions.com: https://keymediasolutions.com/news/social-media/pinterest-awareness-campaigns/
L, J. (2016, August 23). How to drive sales with multi-product Pins. Retrieved from https://business.pinterest.com: https://business.pinterest.com/en/blog/how-to-drive-sales-with-multi-product-pins
Smith, C. (2017, March 22). 250+ Amazing Pinterest Statistics and Facts. Retrieved from http://expandedramblings.com: http://expandedramblings.com/index.php/pinterest-stats/