Pinterest was launched in January 2010 and since then (more than 11 years), it has tremendously grown. It has become one of the favorite social networks for brands, influencers as well as users. Social media is the key for companies that intend to strengthen their customer relations in an attractive way. For companies the use of social media has multiple advantages. Pinterest can be one of those social networks. And now it’s not just a social media network, but much more than tha.
What Is Pinterest?
Pinterest is a unique social media network that offers visual discovery of new products & services. Influencers, marketers and brands can promote their products/services easily with elegant photos. It is also one of the most popular and widely used visual search platforms for ideas and inspiration.
With a current user base of around 459 million (in February 2021), there’s no doubt why brands around the world love this social network.
The USA is the largest market for Pinterest with an active user base of 100.75 million. Its users are mostly GenZ who love to spend their time on social networks. Millennials also makes up a large chunk of its user base.
This information is very handy for brands & influencers to strategize their next move on Pinterest. It’s also an interesting fact that users not just browse through different ideas on the platform, but also buy products & services through it.
Pinterest has grown tremendously since its inception and has become one of the most important social networks for brands. Unlike other social media networks, Pinterest has a high conversion rate with significantly lower ad costs.
Pinterest seems quite intriguing for influencer marketing, right? Read on ahead to find out what’s new on Pinterest and what’s the current trend there.
Latest Pinterest Unique Features & Functionalities
During quarantine Pinterest saw a 35% increase in the number of boards created per month. Considering this, Pinterest updated its features and included several functions such as:
- Personal Notes: You can now add private notes on the saved pins so whenever you revisit those pins, it becomes easy to remember what you planned to do with it. For example: “great gift idea for mother’s day”. Pins are bookmarks that people use to save ideas they like on Pinterest.
- Board toolbar: The active boards that have an average of 150+ pins will see this new option. The board toolbar makes it easier for the users to navigate through the plethora of pins. This toolbar is present on the top of the screen. Dashboards are the places where you save your pins. You can create new boards from your profile or when you save a pin.
- Dashboard Favorites: Pinterest is still testing this feature. This feature, when rolled out to the public, will allow the users to bookmark the pins they like by tapping the star shaped icon on the board. A utility feature that helps organize the ideas users like.
- Pin Grouping: This feature offers the users to use Enhanced Dashboards as their personal assistants. Pinterest’s algorithm will suggest sub-boards that would allow the users to organize their boards in a better way. For example, if you have a travel board with lots of photos of places you want to visit, it’d be much easier to organize them using sub-boards like “getaway places”.
- Dashboard Suggestions: Along with automatic grouping, Pinterest will offer the users an enhanced guided experience right from the first pin they save. For example, if you save a recipe pin then Pinterest will show you board suggestions of different recipes.
- Stories: Brands can use stories to offer their audience a unique way of getting information. Brands can enlist details on their stories and hence, can easily promote recipes, crafts, products, or ideas.
User Behaviors That Make Pinterest An influencer Marketing Goldmine
Pinners are usually the planners. According to Pinterest, 68% of the users create travel Boards for the places they want to visit next. And 46% users search for lodging services and hotels to stay at during their upcoming vacations.
Pinterest’s 46% user base earns more than $75,000 a year. Pinterest’s unique visual search engine has boosted its shopping rate. Why? Because 93% of shoppers are more likely to make a purchase of a product if they’re easily able to search for it with an image on a mobile app.
Millennials make a huge user base and 86% of them use Pinterest to plan their big and/or small moments in their lives. And 63% of these users also use it to discover new products.
This social network has an active user base of more than 450 million with a mixed demographic of males and females.
Pinterest in Influencer Marketing
While Instagram and YouTube are great platforms for running influencer campaigns, it’s time to consider what a Pinterest influencer marketing campaign can do for your brand.
Importance of Working With Pinterest
One of the biggest strengths of doing influencer marketing on Pinterest is that the users like to purchase through the platform. Apart from that, after Facebook & Instagram, Pinterest is the largest & most popular social network in the USA.
Pinterest generated around $1 billion in 2019 and around $1.4 billion in 2020. This shows how much potential this social network has for brands.
In terms of social media platforms for shopping, Pinterest comes out to the top in the USA, beating Facebook, Instagram & other social networks by a huge margin.
Advantages of working with Pinterest
- Influencers will help your brand creating creatives that promote your content to larger audience and bring you more leads, conversions and sales.
- You can create awareness about your brand on Pinterest freely as the social network is completely free to use.
- Pinterest is a major social network used by millions of people around the world, every month. This offers a tremendous number of opportunities for businesses to promote their service/products to a larger audience.
- This social network has a great conversion rates when it comes to sales. So, by leveraging Pinterest, you can increase your brand’s sales too.
Disadvantages of working with Pinterest
- Businesses will need to share anywhere between 5 and 20 pins everyday to get their boards noticed. So, for example, if you have 5 boards, you’d need to share around 25-100 pins everyday!
- Other brands or personal accounts can use your pins to promote their services & products. Anyone can use your pins to promote anything and there’s only a little you can do about it.
- Automation on Pinterest is really hard. Pinterest for business offers limited scheduling and tracking features.
Here’s Why Brands Should Work On Influencer Marketing With Pinterest
- Create Specialized Content: Users are always searching for new products for their next occasion or plan. And influencers creating specialized content around your product or service can significantly improve the chances of increasing sales.
- Boost Brand Awareness: 43% of Pinterest users are more likely to be introduced to new brands than people on other social networks.
- Tutorial On How To Use The Product: Influencer marketing involves showing the users how your product works. And that is exactly how influencers can help your brand.
Interesting Pinterest Accounts You Should Check Out
1. Oh Joy!
Joy Cho, owner of Oh Joy!, has taken over Pinterest’s popularity with over 14m followers. Her “Recipe” board, in particular, is one of the best boards that has gained over 6m followers with 2.5K pins till now. The Recipe board is quite evident why Oh Joy! has become such a hit on Pinterest.
2. Maryann Rizzo – maryannrizzo
Unlike the majority of the influencers on Pinterest, Maryann of maryannrizzo, loves to post about “everything” that pleases her eyes. Well, looking at the pins in her most popular “Everything” board is quite an evidence for it. She’s the second most followed influencer on Pinterest with 9m followers.
If you’re looking for interesting ideas for recipes, parties, DIY, crafts, and cute decorating ideas then Poppytalk is your go-to Pinterest account. With over 10m followers, this Vancouver based photographer has interesting pins for you in its “Entertaining & Fun” board.
Pinterest Predictions In 2021
Pinterest is now more than a regular photo sharing site where people search for recipes or wedding ideas. It has grown into one of the most popular and used visual search engine platforms for ideas and inspirations.
Pinterest has also become a hub for business opportunities as it helps brands to showcase their products/services in a unique way. Influencer marketing in Pinterest has substantially grown.
Pinterest will help brands & influencers to boost their sales in 2021. Here are some stats that can help you predict how you can use Pinterest in 2021:
1. 60% Of Users Are Female
It’s an interesting stats that brands can use to market their products to women. However, even though around 60% of the consumer base is female, brands & influencers shouldn’t forget about targeting men. Why? Because male users have already increased 50% YoY and most of them are avid users.
Why is that a good thing for eCommerce businesses? The answer is in the next stat.
2. Half Of US Pinners Shop Via Pinterest
Pinterest surely helps to get new ideas & inspiration for your next party but its not only limited to that. It’s a social media network that users use to discover new products. This accounts for half of the US Pinterest users to shop through it.
Pinterest’s platform offers a search engine for searching for new products, this makes shoppable pins to be easily discovered.
So, this makes Pinterest a goldmine for brands or influencers to significantly increase their sales on social media.
3. Around 89% Of Users Are On Pinterest For Purchase Inspiration
This Pinterest stat shows huge potential this social media network has for your brand. The platform is not just limited to sharing photos but has also become a shopping space. With the right strategy, you can target users who are on Pinterest to plan their next purchase.
Almost every 9 out of 10 users search for inspiration to decorate their homes, find great office designs, look for trendy outfits, search for gift ideas, and much more. This makes influencer marketing a great way to boost sales through Pinterest.
4. 97% Of Searches Are Non-Branded
Almost all the searches made on Pinterest are non-branded, which means that users do not search for any particular brand while looking for products, ideas and/or inspirations.
This gives new brands & influencers a huge chance to market to a huge consumer base. By targeting right keywords on Pinterest in your pin titles, descriptions and tags, your pins will get a great number of impressions & clicks.
5. Pinterest Has Huge Advertising Potential (Generated Around $1.4 billion In Advertising In 2020)
In 2020, Pinterest proved that it’s profitable even as an advertising platform. It generated $1.4 billion (approx) in advertising from brands in 2020. This clearly shows that promoted pins are quite popular and are here to stay for quite some time.
Brands & influencers can use the opportunity in hand to roll out ads on Pinterest to target high-buying rate consumers (as 50% US Pinterest users shop through it).
6. Pinterest Ads Are 2.3 times Cheaper Per Conversion Than Other Social Media Platforms
Well, this makes Pinterest an obvious choice for brands & influencers to add Pinterest in their online advertising strategy. Pinterest platform offers a cheaper rate for every conversion, this means the cost per acquisition is much lesser compared to other platforms.
As with any social media strategy, understanding Pinterest and analyzing your results after creating and working on your account is essential. This will ensure you’re making the most of its potential.
Leveraging influencer marketing in 2021 may be the best strategy you can utilize to take over Pinterest. Why? Because not only does it have younger audience, the conversion rate is higher compared to other social networks (as mentioned in the article).Remember, 89% of Pinterest users are searching for purchase inspiration!
All these factors point to one thing – Pinterest in 2021 has great potential for brands to market their products & services.