What the Pinterest App Offers to Users
Virtual bulletin? Online vision board? Visual pinboard? Pinterest is all of the above and more. This social media platform is a visual discovery engine used to spark inspiration. With billions of Pins on Pinterest — a way to organize, share, and bookmark ideas — users have access to recipes, home and style inspiration, gift ideas, and more. Furthermore, Pinterest’s emphasis on discovery and curation of other’s content rather than one’s own content directly correlates with the social platform’s success. To expand, Pinterest drives triple the amount of web traffic than Google+, Twitter, LinkedIn, YouTube, Reddit, and StumbleUpon combined.
Pinterest is a visual content heavy platform; therefore, a digital marketing company or businesses alike are attracted to the promotional opportunities — both organic and paid. Additionally, 71% of Pinterest users are females who account for 92% of all pins. Thus, Pinterest is the perfect platform for social media advertising to target affluent female millennials because they are active on the platform and more likely to purchase products from shoppable pins than men.
Pinterest is also a full-funnel marketing channel — meaning that markets are able to attract traffic, create awareness, build advocacy, and push sales. Finally, consumers average 50% more time on Pinterest than other social channels because they’re gaining inspiration rather than checking profile updates, current events, etc. With this statistical evidence in mind, advertisers are likely to succeed and drive e-commerce sales through Pinterest advertising.
How Does Pinterest Differ from Other platforms & What Ads Can Be Run?
Pinterest is more than just mood boards and DIY ideas. It is a platform powered by discovery with an audience that has intent to buy, making it a very unique experience for advertisers in comparison to Facebook or Instagram. With Pinterest, advertisers are reaching an audience that is already on the hunt for something new. The advertisement algorithm optimizes their chances of reaching the most relevant audience to your product, making it a more comparable platform to Google as it acts as a search engine. According to research done by Pinterest Business, 77% of weekly Pinterest users have discovered a new brand or product from Pinterest, and 90% of weekly users make purchase decisions on Pinterest. This makes this platform a very powerful tool for advertisers to reach an eager audience. There are five different styles of advertisements that can be run on the Pinterest app: Standard Pins, Carousel Ads, Video Pin Ads, Shoppable Pins, and App Install Pins. This allows brands to create a variety of advertisements or any type of campaign objective that would make the most sense for their brand.
The Future of Pinterest
Moving into 2021, we see the digital arena becoming more and more competitive for advertisement space. Facebook, Instagram, and YouTube (while very strong platforms) are saturated and occupied mostly by users scrolling past any advertisements. However, Pinterest has proven to be different and has recently become a discovery and social shopping platform with ready-to-buy users. Pinterest has attractive ad formats that can fit the style of any brand, the keyword layering is similar to the Google search engine making it easier to find the perfect audience, and it has an averaged lower cost-per-click (CPC) than other platforms because it isn’t as popular to other marketers yet. If your company is not already advertising on Pinterest, now is the time to leverage this social media marketing niche.