Is Pinterest worthy of your brand’s time? Yes, here’s why

Pinterest facts that matter

Pinterest data is more than impressive, it’s astounding. Over the years it has morphed from simple ‘mood boards’ to an ecommerce platform that rivals even the biggest names. The user-centric search engine gives shoppers a premium, visual experience that results in high conversion rates for brands and has helped to transform online shopping. Here are some facts about Pinterest that should spark your interest:

• $2.5 billion revenue in 2021

• 445 million monthly active users

• Users watch nearly one billion videos a day on the site

• Ads on Pinterest reached 226 million people

• 75% of users say they are ‘always’ shopping

• Users spend 50% more on Pinterest than on competitor sites

• Pinners (users with boards) spend 27% more for ‘click and collect’ shopping

The addition of artificial intelligence

Kudos to Pinterest for not resting on their laurels. The famous brand is always adding new tools and features to entice users to pin more and shop more. One of their more profitable ideas was adding artificial intelligence to its engine, giving users an expanded multi-faceted touchpoint, as well as adding speed and simplicity to their shopping experience.

One AI feature called Try On cleverly allows users to virtually try makeup and home décor before they purchase. This virtual tool alone has increased branded purchases by five times.

Another brilliant addition was Pinterest Lens, a feature that allows users to take photos from the Pinterest app that will aggregate products or looks similar to the ones in the photo. Utilizing a sophisticated ML learning engine, this tool identifies objects and their attributes through context and visual aids and pulls in Pin recommendations based on retailer catalogs from around the world.

What types of businesses should use Pinterest

It’s simple, all businesses can find Pinterest profitable. As evidenced by the plethora of positive statistics, Pinterest is a force to be reckoned with and can showcase your brand in creative, delightful ways that result in purchases. It also helps to create community around your brand and can easily be shared on your socials.

Considering that 97% of Pinterest searches are unbranded, you have ample opportunity to focus on the customers you need. And while women are certainly the majority when it comes to users, men and Gen Z are the fastest rising demographics. Pinterest is literally for everyone. Even the NFL (National Football League) has a Pinterest account with over 52,000 followers.

The only downsides to using Pinterest for business is its learning curve and the time it takes to properly set up and use. It’s important to remain consistent, so it does involve effort, but the results can be richly rewarding. If Pinterest is thought of as its own marketing arm and taken seriously, it can remain a consistent source of income and attention. Two things brands crave.

Pinterest tools for businesses

Pinterest doesn’t leave you hanging by any means. They have provided robust tools for marketers to optimize their selling capabilities. With most users using Pinterest to learn about and plan future purchases, its vital that brands can track, analyze, and measure consumers with hard data. Brands saw a 3x increase in sales performance when using Pinterest Shopping ads. That alone is worth investing marketing dollars. Here is a list of a few of the tools Pinterest provides to marketers:

Analytics

Audience Insights – Analyzes customer behaviors based on searches, purchases, and helps you narrow in on your desired demographics.

Pinterest Analytics – Data concerning the performance of pins, user interactions, and results of earned, organic, and paid engagement.

Ads

Advanced targeting & retargeting – Uses product information data from your catalog, in addition to your brand industry to target and retarget consumers.

Ads manager dashboard – Not unlike Facebook’s dashboard, this ad setup allows you to control your ads, ad spend, and results.

Pinterest Trends – Powerful search feature that works much like Google Trends to help advertisers focus on high performing advertorial content.

Ecommerce

Ecommerce sites – Pinterest makes connecting ecommerce sites easy by working closely with Shopify and WooCommerce for instant purchase connections.

Product catalog – With an onsite catalog, products can be uploaded allowing Pinterest to aggregate your products for product suggestions and search results.

Social tool integration – Because of its intense popularity, Pinterest allows for easy integration with third party, social scheduling tools such as Tailwind and MiloTree.

Regardless of its reputation as a gigantic mood board, Pinterest can be a driving force for brands looking to expand their marketing boundaries. If thought of as the powerful search engine that it is, it can grow your brand's reach and reputation, one rich pin at a time.

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