Pinterest as a Marketing Tool

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  • 1.Pinterest as a Marketing ToolWhitepaperMay 2012

2. DisclaimerTo the viewers of this reportThis report is prepared in accordance with our findings on Pinterest. This report has beenprepared on the basis of desktop research conducted in May 2012. Because its a sample reportcreated for business development purposes, our report may not be suited for any purpose otherthan to assist you in your evaluation of our research capabilities. Additionally, our report reflectsevents and circumstances as they currently exist.We have not independently verified the information gathered or contained in this report and,accordingly, express no opinion or make any representations concerning its accuracy orcompleteness.We shall be pleased to receive your observations on our report.Our report is for your information only and should not be quoted, referred to or transmitted toanother party, in whole or in part, without our prior written consent.2 3. Pinterest, a pinboard-style social photo sharing website launchedin 2010 is fast gaining traction among social media audience is stepping up as a valuable tool for businesses is built by a small team inPinterest is .Palo Alto, Californiais well funded by group of Founded by Paulsuccessful entrepreneursNumber of Total Unique Visitors on A virtual pinboard where and investors Sciarra, Ben Silbermann andPinterest people share and collect the Evan Sharp things they love Annual Household Income (USD) Jan-1211,716 Was launched in 2010Age Dec-117,5160-175%0-24,9998% Nov-11 4,855 18-2417%Oct-113,295 25,000-49,99935% Sep-11 2,073 20%80%25-3430%50,000-74,99934%Aug-11 1,270 35-4425% Jul-111,031 75,000-99,99914%Jun-11608 45-54 16%May-11 418 100,000-149,999 6% Thousands 55-645%150,000 or more 3% 65 or more 2% Pinterest is growing at an astounding rate As of Jan 2012, WomenMajority of Pinterest usersAs per ComScore total Most of Pinterest users are account for most of Pinterestlive on household income number of unique visitors on between 25-44 years of age usersbetween USD 25-75k Pinterest was ~12 mn 3Source: Internet Marketing Inc. 4. Marketing potential of Pinterest lies in its fast adoption coupledwith high referral and engagement ratesMost Popular pinboard categories Adoption rate after 2 years of launch Referral Traffic (Jan 2012) Facebook 26.40% Home17.2% Google+ 90Arts and Crafts 12.4% Twitter3.61% Style/Fashion11.7% Pinterest3.60%Pinterest10.4 Food10.5%Google+ 0.22%Inspiration/Education 9.0% Facebook6 Holidays/seasons3.9% LinkedIn0.20%Humor2.1% Twitter 3Products 2.1%Mn users Pinterest has witnessed increased referralTravel 1.9%traffic as compared to its establishedKids 1.8%peers Pinterest is the fastest adopted socialOver 60% of pinboards fall into the top 5media platform after Google+Average time spent on the site categories As per TechCrunch, Pinterest is expected to have 180 million users by Nov 2012Pinterest influencesmore salestransaction YouTube 16.4 minutes Pinterest 15.8 minutes Facebook 12.1 minutes Pinterest is retaining and engaging usersPinterest drives more sales than as much as 2-3 times as efficiently asTwitter 3.3 minutesFacebook Twitter was at a similar time in its history4Source: Internet Marketing Inc. 5. Businesses are witnessing increased traffic from Pinterest to theirwebsites as compared to other social media sites For Perpetual Kid, Pinterest traffic converts to a sale at twice the rate of Facebook trafficEye glass retailer Warbly Parker reports In 2011, Perpetual began its Pinterestthat 11% of their social traffic is coming exposure and in mid 2011, the traffic fromfrom Pinterest compared to 18% from Pinterest was around 0.20%Twitter However by December referral traffic fromIn October 2011, the website of Time Pinterest increased to 1% and currentlyInc.s Real Simple magazine witnessedaccounts for 2.63% of trafficmore traffic from Pinterest than, one of the first ecommerceplayers to integrate Pinterest across itswebsiteBetter Homes and Gardens has highestLowes has incorporated a Pinterest tab number of followers (25,391) on Pintereston its Facebook pageThe average order value of sales drivenas of Feb Pinterest to has beenLowe witnessed 32% increase in their$180, 10% higher than overall site Best example of lifestyle brand doingfollowers on Pinterest and aims toaverage and 90% higher than Facebook great things on Pinterest.increased customer engagement 5Source: Internet Marketing Inc., Hubspot, News Articles 6. Lack of interactions between users and measuring success ratepresents some challenges for Pinterest adoption 25 20 15Months 10 5 0 10 Million Users Reported GrowthActual Growth The company has attracted Lack of dedicated brandThe biggest problem onPinterest is growing fast but a valuation of $1 Billion, this pages specifically for Pinterest is that users dontnot at the pace claimed could be is a challenge. talk to each other Pinning certain images toIf you are not a productOnly time will tell who comes Success on Pinterest is Pinterest could constitute driven business, it can seemout on top for social media difficult to measure copyright infringement challenging to use Pinterestsupremacy6Source: Business Insider, The Sacramento Bee 7. Companies can use Pinterest as an effective Marketing Tool to gainmore insights about their consumers and competitorsGather Insight Into Your BuyerFeature Visual Content Create a User Generated PinboardAdd a Pin-it Button to Your WebsitePersonas Enable other users to View pinboards of your Pinterest is a visual social This will help to expose your contribute their own pins tocustomers to understand networkbrand to a new audience your pinboardstheir interestsAdd Links in the Descriptions of Showcase Your Business Find Out What Your Competitors are Use Hash Tags Your PinsPersonalityPinning Include links back to yourUsers can use hash tags to Pinterest has a heavy life All businesses should use website in your pins to drive tag their pins and makestyle focus, use it to givePinterest for competitive traffic back to your websitetheir content search-friendlyyour business a personalityintelligence 7Source: Internet Marketing Inc., CIO 8. About SUMO Research Solutions (SRS)SUMO Research Solutions (SRS) offers outsourcedbusinessresearch services toconsulting, research, financial advisory firms andcorporate clients. Our services include industry andsector reviews, market estimation studies, competitivestudies and partner search. We assist firms who wishto outsource their research needs to our centre inIndia. Geographically, our clients span acrossUS, UK, Middle East and IndiaWe, at SRS are adept at collecting, analyzing and synthesizing our findings into information that can readily beused by your business. Our credo of hiring the best crop of consultants and research professionals ensures we gobeyond mere "information analysis" by drawing logical conclusions from the data.Our research process is our key differentiator and helps us stand tall among other market research firms. Theability to combine straight forward secondary research with complex primary research gives us the edge andassures our clients of genuine, verifiable results.We follow a structured process to ensure high quality standards and adherence to timelines, in all engagements.At SRS, we also believe in communicating with our clients at every stage and have a constant feedback mechanismto ensure that the research being conducted is in line with client objectives.8 9. Contact DetailsMs. Nibha Kaul, CEOEmail: nibha.kaul@sumoresearchsolutions.comMob: +91-98192 13030URL: www.sumoresearchsolutions.com9