Pinterest for Business


Companies around the world are using various social networks to promote their businesses and market their products. Although, one of the lesser known social networks among businesses is Pinterest, it has carved out a valuable niche for itself. At first glance this network seems to be all about home décor, food, and fashion. How can it be relevant for business?

Pinterest For Business

Pinterest has an active user base of 70 million members, this creates a great opportunity for businesses that want to drive traffic and new sales to their websites. Especially for lifestyle brands Pinterest is great fit as it is a scrapbooking network that focuses mainly on lifestyle. Because of this other companies might be skeptical to use Pinterest due to its limited marketing capabilities. This is unfortunate because there are a lot of ways Pinterest can help a business increase traffic to its website. Pinterest can connect users directly to the website of a business. Thousands of eCommerce sites now cite Pinterest as one of their top referrers for traffic to their websites. Data show that Pinterest drives more Web traffic than any other social network.

Pinterest is used as an online shopping catalog with 70% of people using it to get ideas on what to buy online. An industry study found that the orders coming from Pinterest increased by 79% from last year. In addition, a survey carried out by SocialMouths found that Pinterest generates trust among consumers. They trust the information provided on Pinterest more than on Facebook or Twitter. Also, the users of Pinterest are twice as likely to engage with brands they support than users of Facebook. This can provide more opportunities for brands to market their products and get fans clicking onto their websites.

Pinterest is a perfect social network to reach a female audience. 80% of Pinterest users are women. The average user is 25-45 years old and 50% have children. If a brand is focusing on this consumer segment than Pinterest should be its most important social network. Also, if businesses feel they have exhausted other social networks, such as Facebook and Twitter, Pinterest is a great opportunity for reaching new audiences. Pinterest pins last on average three and a half months. That is 1600 times longer than Facebook where a post could last for just 90 minutes. This does not mean that the posts disappears, they just are not shown in the user’s newsfeed.  With Pinterest businesses can drive traffic to their websites for weeks after they create a post.

Most importantly, Pinterest is extremely easy to use for companies. The process to create pin boards and populate them with images is not complicated and businesses can start directing traffic to their websites straightaway. Pinterest also offers helpful analytics tools that businesses can take advantage of when marketing their products. These tools provide insight into which pins are performing best and how much traffic they are generating to the website. 80% of the pins on Pinterest have been repined from someone else therefore, Pinterest does all the hard work and generates traffic to the website without businesses having to work hard for it.

A new “Buy Pin” is coming soon that will let users purchase products without leaving Pinterest, using a credit card or Apple Pay. This will create the possibility for consumers to buy a product directly as they see it on Pinterest without the extra clicks of visiting the website. This can generate a lot more sales for businesses. Therefore, in the future Pinterest will businesses’ number one network for generating traffic as the opportunities this network provides are greater than may seem in the first place. What do you think?

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Sources

http://www.wcax.com/story/30052889/trending-thursday-using-pinterest-to-promote-your-business

http://www.business2community.com/pinterest/drive-traffic-to-your-business-website-with-pinterest-01344104#gAp1QMe2TxvXdGrl.97

http://queenbeeconsulting.com/2015/02/use-pinterest-promote-business/

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3 responses to “Pinterest for Business”

  1. hosnis says :

    Good analysis of Pinterest. Never thought that Pinterest is a main traffic driver for e-commerce websites. More than half of Pinterest users is located in the United States which gives Pinterest a fertile target market for potential revenue making. However, it is not clear how pinterest will make revenue with the current business model. Furthermore, a lot of pins that are available on pinterest are not directly linking to webshops which makes searching costs somewhat higher if compared to other platforms as for example Fancy.

  2. 371049 says :

    I think this is very interesting in light of the recent leak of Pinterest documents which forecast a tremendous growth: 151 million users by the end of 2015 and 329 million by the end of 2018! Similarly, current monetization of users is at 1.44$ per active user, but is expected to grow to 9.34$ by the end of 2018.

    I think this is emblematic of what you convey throughout your blog that Pinterest has potential to become a forefront marketing tool for e-commerce business. And the company is most definitely trying to become just that with Promoted Pins and Cinematic Pins, which give marketers new options for reaching Pinterest users.

    Bibliography

    Roof, K. and Lynley, M. (2015). Leaked Pinterest Documents Show Revenue, Growth Forecasts. [online] TechCrunch. Available at: http://techcrunch.com/2015/10/16/leaked-pinterest-documents-show-revenue-growth-forecasts/ [Accessed 18 Oct. 2015].

  3. Mirabeli says :

    Thank you for this interesting read! It wasn’t until recently that I was wondering why businesses do not take advantage of such powerful marketing tool as well. Pinterest is a social media platform that is still lacking behind compared to Facebook and Instagram. Touching further upon your comment, I believe that Pinterest should change it’s revenue strategy by enabling customers to advertise on the platform. Enabling the latter will generate high revenue for the company as well as higher traffic to the websites of the advertisers. Looks like a win win situation to me!

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