How can you accomplish just that? Read on for an overview of the site, how to impact your audience and a few tips on best practices and advertising.
Just the Facts
Pinterest started six years ago as a place to save the best of the web (think bookmarking on your web browser or social bookmarking). Now, the site is the third most popular social network and has more than 100 million monthly users. 12 million of those users live in the US, and over 25 percent of American Pinterest users have an annual household income of at least $100,000. Plus, those users spend an average of one hour and 17 minutes on site each month.
Who uses Pinterest? A whole lot of millennials, that’s who. Yes, Gen X and others are on there too, but a majority are millennials. Go into their homes or offices, and you’ll know. Attend one of their parties, and you’ll know. Be a guest at a wedding, and you’ll know. They get on Pinterest to get ideas for all aspects of their lives – from food to furniture to DIY projects to clothes to cars and homes. I’m a millennial and use Pinterest for everything. I’ve used it to plan my wedding, decorate my home, plan baby showers, design my daughter’s nursery, create the ultimate first birthday party and much more. If millennials are your target audience, don’t you want them to see your products too?
To further convince you, here are a few fun stats about millenials:
• Millennial buyers are projected to spend an annual $1.4 trillion by 2020.
• Millennial shoppers trust social media more than other generations.
• Of those that purchase only through social media sites, Pinterest ranks highest among all platforms in lead conversion.
Also, if your target market is women – you and Pinterest should be best friends. It’s estimated that 81 percent of users are female. And we all know that women drive consumer purchases.
Now that you know the facts, let’s dive into what’s new on Pinterest.
Since its creation, Pinterest, like all other social sites, has changed a lot. It’s been about a month since Pinterest got a major overhaul. You may have noticed its updated font and sleeker, faster service. Now, no matter what device you use the app on, it’s all at the same speed.
Here are a few of our other favorite updates:
• Buyable pins. These pins are a simple and secure way for buyers to find an item they like on Pinterest and purchase it. They never even have to leave the site! Buyable pins are identified by a blue “Buy it” price tag that shows up next to the red “Pin It” button in the top right hand corner. Pinterest may have a lot of planners and “when we get rich” type users, but some are already in the buying cycle. If they’re looking for a new product for their bathroom and are looking for ideas on Pinterest and see your buyable pin – Boom! They can buy it! There are now 60 million buyable pins on the site, and they’re resulting in higher conversion rates. So, get in on the action!
• Visual search. This feature allows you to zoom in on a particular product in a picture and search Pinterest’s database for a match. You may be able to find that exact product or a similar product to buy. If you want to sell more products, this is a great tool for your customers to easily search for products so they can buy them.
• Location data. When users save pins, the location data update shows them nearby locations on a map. These pins have all of the information (such as phone numbers, addresses and hours of operation) users need to make it easier to visit in person. This could help send a lot of foot traffic your way!
Along with these visible changes, Pinterest’s algorithm improved too in order to further enhance user experience. A better user experience means more qualified traffic is headed your way. First, there are just a few things that Pinterest wants.
Since the algorithm change, you may have seen a dive in your Pinterest traffic. Why? Pinterest wants popular pins. Here are a couple of tips to boost your traffic:
• Delete outdated pins. Don’t leave old pins up that no longer represent the brand or product line.
• Repin strategically. For instance, if you are pinning an image from your website, hit the “pin it” button on the correct page. Then, from Pinterest, repin it to your other relevant boards. Doing so increases the number of times that same pin gets repinned, giving it a better chance of being seen as a popular pin to Pinterest.
For more tips on Pinterest, read other mRELEVANCE posts on this topic:
In addition to following the above tips, utilizing advertising on Pinterest makes pins even more popular (just make sure to follow these standards). Promoted pins look like regular pins – by paying for them, they are seen by more people. They perform better than organic pins and are a great way to raise awareness for your brand, increase engagement and improve traffic.
• Raise awareness. As of now, awareness campaigns are only available to Fortune 500 advertisers with a minimum monthly spend. However, this could change! Benefits include access to top placements, desired audience targets, more creative ad units and the greatest reach. To understand more, click to learn how Walgreens tripled their referral traffic from Pinterest.
• Increase engagement. Want more people to save and click on your pins? Promoted pins see engagement rates of two to five percent higher than the industry average. Simply pay for each engagement (a closeup, repin or click) on your pin.
• Improve traffic. Promoted pins drive more traffic back to a website so pinners can take action. According to Pinterest, advertisers who use the Pinterest Ads Manager received an average of 20 percent more (free) clicks in the month after the start of a Promoted Pins campaign. Create a traffic campaign here.
Pinterest contests are one of the mRELEVANCE teams favorite ways to reach a target audience that includes women and millennials. Just make sure to follow the rules! Pinterest requires contests to be easy to enter, spam-free and in alignment with its branding guidelines. Here are some dos and don’ts:
• Encourage authentic behavior.
• Keep it simple with easy to follow instructions.
• Comply with relevant laws and regulations.
• Require participants to pin a specific image.
• Allow more than one entry per participant.
• Suggest that Pinterest sponsors or endorses you or the promotion.
The rules may be simpler than say Facebook, but you must abide by them or you may run into some trouble. You can read about some of our successful, award-winning Pinterest campaigns on our blog, including (P)interact with Traton Homes, Say “I Do” to Your New Home, Designed to (P)inspire, Pinterest Perfect Model Home and Decorate Our Model Home for Spring.
As Pinterest continues to change and climb in popularity, mRELEVANCE will keep you updated on its newest features and tips for improving your Pinterest marketing. In the mean time, be sure to check out our earlier Social Media 101 posts:
Be sure to follow mRELEVANCE on Pinterest and check out our boards – from SEO and public relations tips to graphic design and internal contests, we pin it all!
If your company is ready to join Pinterest or amp up your profile, contact Marketing RELEVANCE today by calling 770-383-3360 or by filling out our online contact form.