All new businesses are aware of the power of social media. It comes as no surprise many set up their Facebook, Instagram, or Twitter early on in the marketing stages. However, there’s one little platform that often goes under the radar; Pinterest.
Pinterest is a creative community that’s all about spreading ideas. Whether it be how to carve a cute pumpkin for Halloween or how to decorate your college dorm with the latest trends, Pinterest is a meeting ground for the visionaries.
With that, many businesses have used the platform as a key marketing component. Usually, by linking each “Pin” directly to a blog post. If you’ve already developed a blog, take a look through it and make note of where you offer advice. Then consider all those waiting on a social media platform where idea-spreading is the number one goal.
Still, not convinced of Pinterest? The following article lists our top reasons your business needs to be on Pinterest.
Pinterest Has a Big Audience
It’s hard to compete with a big name like Facebook who amasses over a billion users. But where there’s a lot of potential customers is also a lot of competition. We’re not saying you shouldn’t go out and create a Facebook business page but should consider social platforms with smaller sizes as well. The less competition there is, the more likely a post by yours will stand out.
Pinterest has around 150 million accounts with 1.5 million using the site regularly. This may seem like a small number in comparison, but again, the less competition, the more likely your business will stand out.
Take these other statistics into consideration:
67% of Pinners are under the age of 40, meaning there’s a lot of opportunities to reach out to the youth.
It’s estimated that half of the women in America between the ages of 34 and 55 have a Pinterest account. 35% of these women have an annual income of over $100K.
The number of men on the site has grown by 120% since last year.
Pins Last a Long Time
Since Pinterest works on spreading ideas rather than instant information, the shelf-life of a pin is almost infinite. Besides uploading a Pin yourself, the only way for Pinners to keep their feed fresh is by Pinning other people’s content. This kind of algorithm makes it easy for more Pinners to see and for your Pin to grow in value.
Compare this to Twitter which is all about what’s happening now. Wiselytics did a study of over a million tweets, each of which had at least 10 retweets. It was found, the shelf-life of these tweets (or the median range for their discovery time) was about 24 minutes.
On platforms like Twitter, you need to act fast and this isn’t something everyone has the ability to do. However, on a platform like Pinterest, your pin has months, even years, to grow its discovery rate.
Pinterest Loves New Businesses
Let’s face it, not everyone on Instagram or Facebook is looking to find new businesses. Most people just want to view their feed, see what everyone else is up to, then log off. When you consider this with the growing competition on those platforms, you can see why many have difficulty advertising a business.
Wouldn’t it be nice if you can find a community of people who are eager to check out a new business? Who have an interest in engaging with you and checking out what you have to offer?
That’s Pinterest. According to research conducted by Ahalogy, 83% of Pinners claimed they’d rather follow a brand on Pinterest in comparison to a celebrity. To take things further, the same study found that 73% of people would rather follow a brand of beauty products instead of a makeup artist.
Pinterest isn’t designed for celebrities to gain a bunch of likes. It’s designed to share ideas. And your business is just that - an idea waiting to be discovered.
Pinterest Will Make You Sales
When it comes to social media platforms driving traffic to a business’ website, Pinterest placed 2nd - with about 5% of referrals coming from the platform - just behind Facebook. Almost every other social media platform ranked 1%.
Not only will you receive more referrals to your website through Pinterest, but you’ll most likely make a few sales as well. It’s been found that a large number of Pinners use the website as a means of figuring out what they want to buy.
Research by Millward Brown discovered:
87% of Pinners bought a product because they saw it on Pinterest.
93% use Pinterest as a means of finding future purchases.
To take this all a step further, it’s also been discovered that Pinterest users tend to have a larger shopping cart in comparison to regular buyers. Shopify did a study that discovered users referred to by Pinterest had a shopping cart of around $58.95 while those referred by Facebook were only valued at $55.
Pinterest Keeps You Up-to-Date
If you have a blog you update on a regular basis or are simply keen on emerging trends, Pinterest has you covered. When a product or trend starts gaining traction in a particular industry, Pinterest informs ALL of its users. Usually, through the popular keyword search bubbles that appear when you type something in on a website.
Many bloggers have used the website to get ideas on what topics to write about next. By typing in a specific keyword, Pinterest will inform the user of what’s currently trending. Since all bloggers want to be up-to-date on the trends, it can be used as a great tool to rack in topics people are currently interested in.
Even if you weren’t to use Pinterest as a means to advertise your business, this feature alone gives the site a value Facebook and Instagram can’t compare to.
Pinterest Users Are Active
A site like Facebook has a lot of passive users - people who go on to check up on their feed and log off. Pinterest users are of an entirely different selection.
According to a study by Ahalogy, 67% of Pinners actively look through their Pins while shopping in a store. This means these users are consistently checking back with their interests while they’re making a purchase.
In turn, many stores must keep up-to-date with the latest trends in order to keep up-to-date with the consumer. If your product is trending, this can be a great way to get retailers interested in what you're selling.
Pinterest is a powerful platform that, as mentioned, is often overlooked by new businesses. If you’re able to get yourself on the website from the beginning, you’re going to notice you have a shoe in the door other companies are ignoring.
Though it’s always important to understand the algorithm of the social media platform you’re advertising through, Pinterest makes it extremely easy for new users. There may be a slight learning curve, but once you overcome this, there are infinite possibilities for your small business.