Between Facebook, Instagram, and Google’s entire catalog of advertising products, it’s easy to forget about Pinterest. With more than 442 million active users on a monthly basis, advertisers can’t afford to overlook this social platform any longer. In fact, it might be time to make it a priority.
Due to its focus on visual content as well as an efficient click-to-cart model, Pinterest has a highly-engaged audience that is uniquely open to learning about, or purchasing, new products. The question is, how do you get your brand in front of these users?
I’ll explain 7 reasons why Pinterest should be a major part of your digital advertising strategy in the upcoming year.
1. It Creates an Easy Path to Purchase
One of the challenges that advertisers constantly face is how to convert browsers into buyers. One of the greatest strengths Pinterest has to offer is that the number of steps required to go from “discovery” to “conversion” is significantly less than on other social media platforms.
In fact, research has shown that nearly half of Pinterest users open up their accounts with the intent to shop. This means you’ll be showing your brand to audiences who aren’t just interested in browsing your site or “learning more” about your products – they’re happy to convert!
2. Staying Power
When someone pins your content to their board, it’s up there forever. That means if you’re producing high-quality material that users find interesting or engaging, your brand will continue to experience organic growth long after the initial post.
Whereas most other social media platforms value recency and have a specific schedule for when your content will show, Pinterest values building a library of your favorites. That means you can enjoy conversions that trickle in from a pin you made months ago.
Keep in mind that the evergreen nature of pins means that there is tremendous value in producing high-quality content. The platform’s algorithms are partial toward better material, so it’s important to know what goes into an effective pin on the site.
3. It’s a Trend-Spotter
Keeping up with the latest trends could quite possibly be considered a full-time job. In the internet age, that globally-popular viral video or the latest clothing trend will be replaced by another at a minute’s notice. With that in mind, Pinterest helps advertisers stay on top of it all without having to get into much analytical research.
Pinterest reveals the most popular keywords being used on the platform and shows which products are trending…in real-time. This data is crucial for marketers who could use some assistance in evaluating what potential customers want to see.
4. The ROI Numbers Don’t Lie
At the end of the day, marketing comes down to one thing: ROI. Maximizing the return on your initial advertising investment is priority number one, and Pinterest has some surprisingly-positive data to suggest they’re delivering.
A recent study revealed that for every $100 spent on the Pinterest platform, brands earned $60 in additional profits when compared with others in the space. The study concluded that on average, Pinterst returned $4.30 for every dollar that was spent in advertising.
Obviously, results vary significantly depending on the brand, the product, the industry, and a range of other factors. With that being said, at the very least, these numbers prove that many brands are having great success utilizing Pinterest as a component of their advertising strategy.
5. User Demographics Are Favorable
We’re familiar with all the stereotypes about the user bases of various social media platforms: TikTok is for the younger generation, Facebook is for older folks, while Instagram falls somewhere in the middle. What does the data say about Pinterest?
Interestingly, Pinterest has the highest percentage of users that fall into the “affluent millennial” category – especially affluent millennial women. And yes, as you would expect, this group is the most likely to convert on an ad they see online.
If you’re looking to reach a generally-younger, generally-richer segment of the population, Pinterest should be your go-to platform.
6. It’s Less Competitive (for now)
To call Pinterest a “niche” site would be a bit of a stretch. With hundreds of millions of users, it’s popularity is undeniable. With that being said, there are still fewer users and advertisers on Pinterest than on other social media platforms. What does this mean? More opportunity to spread your message…at a lower cost.
As Facebook and Instagram advertisers have watched CPMs increase over the past few years, Pinterest remains an affordable option. If the trends continue, however, it might not always be that way. Get familiar with the platform now so when others jump in, you’ll be ahead of the game in terms of understanding how to optimize your strategy.
7. Overall Ad-Friendliness
As internet users, we have a complicated relationship with advertising. It can be intrusive and annoying at times, but it’s important to remember that Facebook, Instagram, Pinterest, TikTok, etc. are free only because advertisers foot the bill.
Whereas you might log on to Facebook to check in on your cousin’s new baby, or Instagram to see what your ex has been up to, Pinterest is product-focused. Not only do users not mind seeing advertisements on Pinterest, but in many cases the ads are welcome.
A recent study revealed that 78% of Pinterest users said that they enjoyed seeing content from brands. Simply put, you aren’t going to find such receptiveness to advertising on any other website or social media platform.
It’s not a stretch to call Pinterest the best-kept secret in social media marketing today (although it won’t remain a secret much longer). If your brand is able to tell its story through compelling and relevant visual content, the opportunities are endless in terms of the potential Pinterest advertising can have on your bottom line.