Monday, July 25th, 2016 | 6 min read
(P)interested in advertising on social media? Think your only options are Facebook and Twitter? There’s another great option to consider.
Brands are spending more to advertise on Pinterest, the image-based social network that allows users to “pin” links to photos and sites they like. By targeting ads to the right users, brands can expose their products to more people—especially if users repin items, which are then visible to their followers as well.
Overall, the number of clicks and repins are increasing rapidly, as is the number of marketers who plan to increase their use of Pinterest to reach customers. In a world where users value personalized experiences, Pinterest is a compelling resource because it lets brands cater to users’ personal taste. What’s more, people use Pinterest to discover products and draw inspiration, whether that’s finding the perfect pair of sandals or planning their next vacation.
Brands who master Pinterest can be part of the buyer’s decision-making process and help users identify what to purchase when they’re on the hunt for something.
Here are three reasons why you should use Pinterest to advertise to your customers.
Lots of people like to use Pinterest. The site ranks second in usage among adults, especially women, trailing only Facebook. But while women make up the majority of Pinterest’s user base, more and more men are embracing the platform.
One-third of new sign-ups are men, and the company says that more men use the platform in the U.S. every month than than the amount who read Sports Illustrated and GQ combined. In 2014, the total number of men using Pinterest rose by 73 percent, helped in part by a change the company made that filtered queries (like “watches,” “fashion,” or “tattoos) by gender.
To reach men (and women alike), consider featuring user-generated content. Urban Outfitters, for instance, reported a higher click-through rate when it hosted customer-supplied images of people wearing the brand’s clothing. In addition to providing compelling material, user-generated content provides valuable insights about how people use—and thus, perceive—your brand. Studies also show that consumers trust user-generated content far more than other forms of advertising, so consider using great ideas from your customers to get the biggest rewards.
People come to Pinterest looking for inspiration and ideas—how to decorate their homes, what to wear to an event, and so on. And when someone sees something they like on Pinterest, it often causes them to buy stuff.
Around 89 percent of Pinterest daily users have bought something they have seen pinned somewhere. What’s more: The average Pinterest user has money to spend, with an average household income of at least $50,000 per year. Plus, the average purchase coming from Pinterest is $50—higher than any other major social platform.
Since Pinterest launched “buyable pins,” companies have been able to increase their revenue via the platform. Modern Citizen, a San Francisco-based retailer, witnessed a 73 percent jump in sales from implementing buyable pins and rich pins (which include extra information on the pin itself (such as how to download an app or where to specifically buy the product). And don’t forget to add the price of your product. Pins with prices average 1.5 likes while those without average slightly less (1.1 likes), according to a study by Shopify.
People spend nearly five hours of every day on their mobile devices. That’s a lot of opportunity for ecommerce marketers to target mobile consumers. Pinterest can help marketers reach them.
Even in brick-and-mortar locations, Pinterest has found that 85 percent of users are using their mobile devices to access their pins while shopping. So the moral of the story is this: when marketers create pins, they need to make sure their products look great on mobile devices.
In addition to incorporating product pins so that shoppers know where to buy items, make sure that your pins lead to pages where buyers can get more information and take action. If your business has an app, you can use Pinterest’s SDKs for iOS and Android to add “pin it” buttons to images in your app. This will increase pins and referral traffic.
Pinterest is also working on new photo-recognition technology that will rely on its vast online photo repository to tell users where shirts, dresses, pillows, and more come from when they point their smartphone camera at the designated item.
Pinterest has come a long way since its launch in 2010. Once a place to mostly find inspiration for a wedding or home renovation, Pinterest has become a valuable place for brands to market products and experiences, as well as grow traffic, especially considering that Pinterest generates more referral traffic than Twitter, LinkedIn, and Reddit combined. So when you’re considering advertising on social media, don’t forget about Pinterest — especially its ability to reach an affluent population of both women and men who are shopping on their phones more than ever before and want to be inspired by a photo.