Pinterest Report

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    17-Oct-2014
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The Benefits of Adding Pinterest to your Digital Marketing Strategies

Transcript of Pinterest Report

The Pin-Basics

Pinterest is a new social media platform that has exploded over the last six months. Pinterest allows its users to share and collect pictures and videos which link back to the original source whether it is a corporate website or a blog.5 The mission of Pinterest is to connect everyone in the world through the 'things' they find interesting[Pinterest believes] that a favorite book, toy, or recipe can reveal a common link between two people. With millions of new pins added every week, Pinterest is connecting people all over the world based on shared tastes and interests. The whole concept of social media and social business is to connect and build relationships with the people you share a common interest with; Pinterest does this with ease. According to comScore, in January 2012 Pinterest attracted more than 11 million unique visitors, more than double the 4.9 million who visited the site in November 2011. Those who visited Pinterest spent nearly 100 minutes on the site in January, compared to the [average] 19 minutes on professional social networking sites like LinkedIn.8

Pinterest is notably popular among the female demographics however that is not the case around the world. Data compiled by Visual.ly sheds light on the interesting differences between U.S. and UK Pinterest users. Using anonymized, aggregated opt-in data from various Google products (including Toolbar and Analytics), DoubleClick Ad Planner has drawn some conclusions about pinners on both sides of the pond. The infographic below depicts the difference among unique visitors, age, gender, and interest of the Pinterest users in the United States and the United Kingdom.

While this data illustrates the differences between the users, the most important data to look at is the audience interests. While the US seem to be interested in crafts and interior design, UK users are interested in using Pinterest for SEO and marketing information along with analytics and content management. This is important because Pinterest started out as an online scrapbooking site where users collect and share recipes, fashion and home decor ideas, however, it has now evolved into a prime marketing tool for all types businesses.

Sports Score on Pinterest

Since the hype of Pinterest has been centered on women, the sports industry has used this digital scrapbooking website as a tool to reach and engage their female fans. Many professional teams from the NBA, NFL, NHL, and a few colleges have joined the Pinterest bandwagon in order to showcase content from fans, display merchandise, and create boards of photos from the past and present of the organization. The Celtics have the largest following on Pinterest so far with over 1,500 followers. Pinterest is a great way for sport teams to engage with the female demographic and offer them a different type of content that cannot be found on Facebook, Twitter, or Google+.

In college sports, the University of Washington uses Pinterest to flaunt what it offers prospective student athletes. Boards called Best 4 Years of Your Life and Seatown Swag show off student culture and the universitys prime location. Assistant athletic director Carter Henderson said the school created those boards in part because they noticed that collections themed around travel destinations were already popular on the network.7

Whole Foods Market Spices it up on Pinterest

Whole Foods Market was one of the first brands to join the social media platform in July 2011. The global online community manager for Whole Foods, Michael Bepko, explains, [Pinterest] allows us to curate images from across the web that really speak to who we are as a company, images that reflect our core values and essentially communicate the essence of who we are. While most brands can be found on Facebook and Twitter, Bepko pondered the necessity of having the Whole Foods brand on Pinterest as well. He came to the conclusion that the main difference between the Pinterest and other social networking sites is the curation of images. Pinterest is image-based, as opposed to message-based which fills a niche that has been left empty by other platforms.

Pinterest fits into the Business Model of Current Social Media Trends

Pinterest is a mystery that businesses are eager to solve and determine if their presence is necessary or needed on the site. This section looks at current social media trends that businesses have already implemented into their social media strategies and how Pinterest can enhance those trends.

Social CommerceSocial commerce is the social interactions and user contributions that facilitates the buying and selling of products. Businesses who use Pinterest have the capability to display their products on social platform other than the brands website. Creating different boards with different content, products, and categories allows you to connect with customers based specifically on their interests.11 The fact that you can add the price of an item to a pin by typing the symbol followed by the amount in the description is a sure way to increase the selling of products and leading to the direct revenue from the site.6

Social Rewards ProgramsThe core of social media has been to engage and interact with consumers, and reward programs have been a key factor in that connection. Pinterest is another venue for customer interface, interaction, socialization, and connection. Contests on Pinterest can reach far beyond the typical Pin It to Win It. The engagement of fans and consumers can be started on Pinterest by asking their opinion on the next marketing strategies of the company, comment on the new office designs or vote on the trends they most want to see in the brands next collection. The winner can be chosen based on awarding points through likes, comments and re-pins.1

Collaborative ConsumptionCollaborative consumption is the rapid explosion in traditional sharing, bartering, lending, trading, renting, and swapping, redefined through technologies and peer communities. Pinterest is a peer community that has redefined the concept of sharing ideas and interests. One of the best things that Pinterest offers to its users is the ability to have multiple collaborators on boards. When a company allows its employees to contribute to boards it adds to the personalization and humanization of the business and it also builds an office unity. Pinterest goes beyond featuring a companys product and establishes an opportunity to interpret the lifestyle of their clientele.1 Whole Foods is an excellent example of this. Out of the approximately 30 boards that Whole Foods have on their Pinterest account it is hard to find an actual Whole Foods Product. Instead the Whole Foods Pinterest team searches the Internet for bloggers and writers on other social platforms who offer an array of content that is relevant to the Whole Foods core pillars, then they pin those images to their boards. They also attract a much wider audience by offering niche board topics such as their Super Hot Kitchens board, which is entirely devoted to immaculate kitchens. This allows the users interested in topics such as home dcor to follow this specific board and avoid consuming content from all of Whole Foods boards; yet Whole Foods name is still associated with the board and reaching that wider audience.4

Share ButtonsYou see the share buttons almost everywhere now, and Pinterest is not only joining this trend they are also redesigning it. There is the Pin It bookmark, Pin It share button, and the Pinterest Follow Button, with the instructions on how to use and implement all of them located on the Pinterest website. The Pin It bookmark was developed by Pinterest to make pinning new content easy. To install you drag and drop the button from the Pinterest website to your bookmark tool bar on your browser. This allows users to pin new content from any website to one of their boards. By clicking on this bookmark button, images found on the particular page are displayed and the user can choose their favorite photo to pin to their desired board. When pinning from a website, Pinterest automatically grabs the source link to credit the original creator (to be discussed further later). The instructions to add the share and follow buttons to a businesss personal website are also listed on Pinterest.com. These buttons allow consumers of a business to share their content with their followers on Pinterest, just like they can on Facebook and Twitter.10

Job SearchSurprising enough, LinkedIn is no longer the only place to showcase your personal resume; Pinterest provides the ability to share with the world a visual resume of oneself. If you are a graphic designer, you can pin samples of your work. If you offer other services, such as consulting or writing work, you can use Pinterest to share photos that inspire or that share a message about your work. For example, financial consultants could pin photos that represent client goals, such as financial independence or financing education. Non-profit groups can share photos of the clients they are helping.11

Managing ContentAnalytics, analytics, analytics! Integration of a social media strategy is not enough anymore, monitoring and analyzing the data from that content is now just as important. Many tools have been developed to analyze social media data for companies, now those developers are creating tools that are made specifically for Pinterest. Examples include, Pinstamatic, Percolate, Pinpuff, and(my favorite) PinReach, which offers a personalized analytics dashboard. Since the pictures on Pinterest are embedded with a link directing the users back to the original source, tools like Google Analytics have been able to track Pinterest for referral traffic to ones website. Want to see what pictures from your website are being pinned with the Pin It bookmark