Pinterest is an online visual discovery tool that allows users to discover things that inspire them, things they want to do, see or buy and sometimes even things they didn’t know they were looking for.
Users share and collect their favorite pictures and videos based on their interests. The sharing of these pictures with other users on Pinterest is what gives your business more exposure.
THE BIG MISTAKE
Like Facebook and Twitter, Pinterest can be used personally or for business. Businesses mistakenly think that Facebook and Twitter are the only obvious choices for their business. In many cases Pinterest would be a more useful and profitable social platform because it creates & facilitates buying intent. Businesses that use Pinterest effectively create more sales.
Pinterest is the 2nd largest driver of traffic from social media sites (next only to Facebook). That’s a pretty impressive stat when you consider that Facebook is six years older than Pinterest.
Pinterest is a 5 year old business founded by Ben Silberman. The reason he created Pinterest was to help people find things they loved and then take action on it… which often means commercial intent.
Bottom line; if you are a brand, business or a publisher and you are not using Pinterest you are probably missing sales as a result.
Pinterest helps brands and businesses:
- Get more traffic
- Make more sales
- Collect market intelligence which helps with future content & product development
- Raise their brand profile
- Develop loyal fans and brand advocates – determine exactly who is sharing your content
- Rank higher on search engines
- Reduce marketing expenses
- Have others create content for you – for free…so you don’t have to do all the work (this does not happen in Facebook, Twitter!)
- Increase your exposure to a wider audience so others can reach out to you about partnerships
Most businesses want two things from their on line presence – traffic and sales. Remember no new traffic to your website means no new sales & missed opportunities.
Pinterest is beneficial for all types of product & service businesses. Fortune 500 companies like GE and Home Depot to local mom and pop businesses and everything in between.
For retailers who have an ecommerce site Pinterest is a no brainer. They can use Pinterest as extension of their website showcasing their products and services. Pinners go on Pinterest with a buying mindset which they don’t do on Facebook & Twitter.
The reason Pinterest is so effective as a business acceleration tool is because 70% of online consumers go to Pinterest to get ideas and inspiration on what to buy.
Let that skin in for a second. 70% of on line buyers go look on Pinterest. Do you want to be there? Hello.
In addition, 67% go on Pinterest to keep up with the latest trends.
With that kind of massive traffic; enterprises, bloggers, marketers and business owners would profit if they could find ways to leverage that.
One of the tools that Pinterest has made available for ecommerce sites is the Product Rich Pin. These Rich Pins allow your pins to include real time pricing, availability and information on where to buy.
Pinners also get email notifications when Product Pins they’ve added to their boards drop in price by at least 10%, which encourages buying behavior. You don’t get this on any other social platform.
For B2B companies in order to maximize your efforts on Pinterest you need to have a blog that is Pinterest friendly. Without a helpful blog post your results from Pinterest will be minimal.
Since September of 2013 over 5 million articles are being shared on Pinterest every day. Many publishers are having huge success on Pinterest. For example, Buzzfeed’s second largest social traffic driver is Pinterest, after front-runner Facebook.
Pinterest has taken notice of their success and they have recently hired a head of media partnerships for the first time. The company has brought in Robert Macdonald, formerly of Google, to do the job.
“We are looking to work with a wide range of traditional and digital publishers across all verticals, many of which are already using the platform.”
While many B2B businesses still think that Pinterest is just a bunch of pretty pictures and DIY crafts for women this is simply not the case. Let’s take a step back and understand how women use the internet to see how any business could benefit from Pinterest.
Women’s Online Behavior:
- As early as 2000, women were found to have surpassed men in Internet usage
- 75% of women in the U.S. use the Internet for product information before making a purchase
- 35% research products and services online before buying offline
- Women account for 58% of all total online spending
- 22% shop online at least once a day
For any business that is looking to connect more with the female audience, you need to find a way to get big and get effective on Pinterest quickly.
This chart below shows Pinterest’s most popular categories. So if your business is in any of these verticals you need to be on Pinterest.