In less than two years since it’s launch, Pinterest has blasted off to be one of the fastest growing social networks of all time. At the end of 2011 the site was listed by Hitwise as one of the top 10 social networks when it had grown to 11.7 million monthly unique visitors. This made Pinterest the fastest site in history to pass 10 million monthly unique visitors. Since the first week of 2012, Pinterest has surpassed YouTube, LinkedIn, Google+, Yahoo and Bing in driving referral traffic to retail websites.
This is undoubtedly impressive, but what does this mean for your brand? Should you be on Pinterest?
The short answer is yes. Historically, most companies wait a little too long to dip their toes into a new social network to make sure that it’s going to last. This leaves them playing catch up, and you don’t want to be late to this party. At the very least you should secure your brand username before a squatter does.
The longer answer is maybe. There are a few key considerations with how to allocate business resources that should always be considered before committing them to developing social media communities:
1. Is your audience hanging out on this social network?
2. Is your audience actively participating on this social network?
3. What are your business goals that will be tied to your activities on this social network?
4. What is your overall social media marketing strategy and how well does Pinterest fit in?
5. Are “Pinners” already spreading your brand around Pinterest? Type the following URL into your browser and replace “yourdomain.com” with your own web site: http://pinterest.com/source/”yourdomain.com” to follow and identify “Pinners” and boards that your brand’s content is appearing on.
Lifestyle brands benefit the most from Pinterest. Currently 97% of Pinterest’s 1 million+ Facebook fans are women.
The current Pinterest user base is 83% female; 30% of whom are 25-34 years old, and 25% of whom are 34-45 years old. These women are well educated with over 60% having some college experience, 19% holding Bachelors degrees, and 6% holding Graduate degrees. They are more likely to live in mid-west states with 35% living in households with incomes between $25,000-$49,999, 34% living in households with incomes between $50,000-$74,999, and 14% living in households with incomes between $75,000-$99,999.
Therefore, if this is your target audience and you aren’t on Pinterest, you should open a new tab on your browser and request an invite. Yes, Pinterest has had the growth mentioned above as an invite-only website.
If this is not your target audience, consider how your products and services can become attractive and valuable to this active audience. Think about the lifestyle benefits and attributes of what your company offers and how your customers use your products or services to enhance their lifestyles. If you’re not sure where to start, there are dozens of resourceful articles that can steer you in the right direction. It would be a shame to not connect with all of these people who are having fun, sharing pictures and videos, and driving traffic to retailers.