Pinterest is a Viable Marketing Tool for Some Businesses

Pinterest is a very powerful tool that brands and small businesses need to start actively using. Forbes reported only half of marketers are currently using the platform but that number will grow, “particularly among B2C marketers looking to connect with an educated, largely female market.” The top 10 reasons for having your business on Pinterest are the following:

  1. It’s a significant influencer of purchase decisions-“Pinterest users tend to be some of the most engaged and loyal users of social media.” The majority of users rely heavily for the site to help inform them for purchase decisions. Millward Brown’s research stated 87% of Pinterest users have pinned a product and 93% pinned for future purchases.
  2. Buyable pins are taking selling to a new level- Recently Pinterest has added buyable pins which businesses can use to generate direct sales.
  3. Profiting from Pinterest doesn’t require an active presence on the site- Businesses can benefit with minimal amount of work. Having an active presence will help your business, having pinnable images and pin it buttons on the business’s site will be greatly beneficial.
  4. Referrals have a higher average order value than Facebook-“Pinterest consistently sees higher dollar values from orders.” Shopify’s research stated the average order value is $58.95 and Facebook is $55.
  5. Users are open to marketing on their platform- Ahabgy’s research found users are keen to connect with businesses on their platform with 83% stating they’d follow a brand over a celebrity. Preference for brands showed in numerous industries: 73% would follow their brand of beauty products than favorite make-up artist, 67% would follow their favorite brand of baby products than favorite baby expert and 70% would follow their favorite brand of hair care products than their favorite stylist.
  6. Users give businesses increased opportunities to get their product’s ratings in search- Using popular keywords in your Pinterest boards can have a huge impact on search ratings, both in Google and Pinterest.
  7. Besides Facebook, Pinterest drives more social media referral traffic than any other social media-Shareaholic’s research reported 5% of all referral traffic to websites is from Pinterest which is behind Facebook at 25%.
  8. Users have more purchasing power than non-users- Ahabgy’s research found users have 9% higher average income than non-users. “Active users report spending less time on traditional media-means brands who are willing to actively engaged with these users can reach these users at a far lower cost than by advertising on traditional media.”
  9. Being active keeps businesses on top of emerging trends in their industry-Especially industries such as fashion, home and garden or beauty. Pinterest can give businesses important insights into popular trends and products.
  10. Pins have a large potential for going viral-Infographic’s research found the average number of repins for each pin is 4.2. “This means every time someone pins a business’s product, it has the potential to reach 4 additional users.”

 

 

Jason Peaslee

Jason Peaslee is the Managing Partner of Thrive Analytics, a marketing research and analytics consulting firm. His career spans more than 20 years in marketing, advertising, product development, research, and business management. Before founding Thrive Analytics in 2010, he held several senior leadership roles at AT&T, Reynolds & Reynolds, Berry Network, & The Berry Company.

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