Can you really use Pinterest to make tons of cash?
Pinterest is continuing to grow its platform. Over 200 million people use the platform, which gives brands a huge opportunity to reach new customers. Unlike other social platforms, Pinterest is primarily used for commerce. Most pins on the platform represent an idea, product, or service that a consumer wants to try or buy.
According to Nielsen, 98 percent of Pinners report trying new things that they find on Pinterest, compared to an average of only 71 percent across other social media platforms.
So, how do brands take advantage of the upswing in Pinterest-based commerce ?
The playbook takes a deep-dive into Pinterest's rise and provides steps to take in order to engage with the platform, optimize content, and measure success.
Unfortunately, brand marketers are unable to see the intrinsic value of Pinterest. They are unaware of how the platform differs from other social networks so are unable to use it to their advantage.
If the race between corporate giants Amazon, Microsoft, and Walmart to create fully-automated shopping experiences is any indication, retail could look a lot different in the near future.
But are consumers ready for changes to the brick-and-mortar experience? Find out what consumers are using while shopping, whether it made the shopping experience easier (or more difficult), and what information consumers are willing to give up in exchange for special promotions or discounts.
Of new social media marketers, only 27 percent are using Pinterest, while 90 percent use Facebook and 59 percent use Twitter.
Also: 15 Pinterest tips for the shiny new redesign CNET
Pinners represent different stages of the buying journey, the majority (93 percent) say that they have used Pinterest to plan for, research, or make purchases, as Pinterest helps Pinners decide where to shop and what to buy,
According to the Playbook, Pinners tend to start searching twice as early as people on other platforms, with 76 percent of people saving items that they plan to purchase later.
Pinterest has great longevity for its content compared to other platforms. On average, its content lasts 110 days -- compared to YouTube's 20 days, Instagram's two days, and Snapchat's one day.
The most popular social platform, Facebook, has content that only lasts for five hours, and Twitter content has hardly any longevity at only 17 minutes.
This makes content on Pinterest more valuable to brands than content posted on other platforms.
So, how do brands reach new customers? A whopping 97 percent of user searches do not mention a brand -- giving brands an opportunity to steal a march on their competitors and win customers on Pinterest. Brands are investing in their relationships with Pinterest because of the opportunities that it provides.
Brands can reach users on Pinterest when they are just starting to shop, before they've narrowed their brand or product choices.
Pinterest recommends saving Pins to brand boards that are relevant to upcoming trends, seasons, and holidays around 45 days early. Then, continue adding more Pins daily to maintain steady momentum, staying ahead of the curve.
To capture the best audience, make sure that your visual content has a vertical aspect. Pins are organised in columns, so Portrait orientation images are optimal.
Consider Rich Pins, which add an extra layer of information to a Pin, and are designed to provide Pinners with a more in-depth experience and help drive engagement for brands.
Promoted Pins bring in new customers. Around 61 percent of Pinners have discovered new brands or products from promoted pins, and 50 percent of Pinners have made a purchase after seeing a promoted pin.
Brands should also consider amplifying top-performing content via one of the five formats of promoted pins, depending on their business objectives.
If Pinterest helps 73 percent of users feel more creative, inspired (68 percent), and organized (62 percent) perhaps brands should shift their strategy to focus on Pinterest. If 61 percent of respondents said Pinterest is where they find ideas to be their best selves, then brands should be there, too.
Perhaps Facebook -- as an advertising platform -- has had its day.