Social Media is not just another advertising channel as many people like to think. And it is not a set of platforms trying to copy each other while offering the same old features. The social media landscape is far from being owned by Facebook or Twitter, and what keeps many marketers from understanding this is possibly the excess of unuseful information throughout the Internet, or the lack of time to invest in objective thinking, analytics and a bit of strategy. In this case in Pinterest Analytics.
Pinterest rises as a refreshing option to the cluttered social media space and has proven to be the best platform out there when it comes to detecting and leveraging on purchase intention. Consumers navigating through Pinterest are more likely to purchase than in any social network and will spend more in average per ticket than even in Amazon. By taking a dive into some Pinterest statistics it will not take much reading to move the jaw of any marketer towards a fast drop down:
However, even with all this hype, strong stats to back it up, and overall goodness everywhere, do brands know how to make the best out of their presence in Pinterest?
Here at quintly, where we have competitive social analytics for breakfast and strategic insights for lunch, we can see clearly that brands in general still need to go through an initial learning curve into making the best out of Pinterest. And yes, if you are wondering, using Pinterest analytics will help a lot on that, especially by tracking what others are doing and optimizing your own efforts based on data insights.
The difference when using Pinterest for marketing starts in understanding the focus of the community itself. While in Facebook it is all about ‘WHO’ you know and interact with (as a user), and in Twitter it’s about ‘HOW MANY’ influencers are in the following/follower cycle, in Pinterest the community spins around ‘WHAT’ people like. The focus on “things” instead of “people” already positions Pinterest as an entirely different environment for brands. The catch here is that even though the community is eager to discover “exciting new products”, it has no interest on having these “products” pushed down their throats by excessive advertising and pushy sales campaigns.
The community in Pinterest grew on the sentiment of discovery, of exploration into the uncharted territories of “amazing new products no one knew about”, and from there it came down to more common ground these days, but the spirit of exploration remains. This is evident when using Pinterest analytics for a look into the numbers, where repins and number of pins are in general more significant than the follower base for most pages at this time.
Understanding the underlying essence of the community will help brands to position their content in a way that they don’t interfere with the experience of the ‘Pinners’, but instead give them even more of that excitement on finding “just the right product” that sometimes they didn’t even know they wanted.
Yes, it is a “social” network, but there is not that much talking going on over there for example. The behavior is focused on taste, interest, and the love of sharing what is meaningful to your ‘material world’ with the world. The network will offer unique KPIs and marketers using Pinterest analytics with the right mindset will leap ahead of the curve. The advantage of using analytics competitively for this transition is that the new KPIs will be easily spotted and the cross-network effects of a 360 digital strategy will jump out immediately into view. Being data driven will secure that marketers can adopt quickly the best practices of the new network and get a detailed view into Pinterest Analytics .
With this in mind, brands must start re-thinking their entire digital presence so that they are as “pinnable” as possible, and so that their pins will carry the brand into the hands of the community “naturally”, without breaking the link to the brand itself. It may sound like a dreadful new beginning of sorts, but it is infact more like a fresh new light at the end of the tunnel. The social community will be again able to focus on what the brand really offers and not on being fed a “digital social experience” under the limited resources social networks have for a true branded experience and lack of a true branded community. Pinterest is one huge community, and brands will learn to see it that way.
On even better news, the network is slowly building itself in a way where brands will be able to easily participate in the ‘pinning-to-purchase’ experience while having their products shared mainly by the community alone and not by marketers applying tiresome display ads strategies. The buy button is only the beginning of the features that will enhance the activity of a brand throughout the platform.
We are all tired of fighting for a higher conversion rate in a display advertising world. The greatest marketing minds of our time are struggling to flee from the “pay-to-click” model and Pinterest can be one signal that not all is lost. We might in fact just survive the digital marketing “dark ages” we live in 2015 after all.
Any questions? We are just one tweet away!