Discovering the value of Pinterest

By: Brittany GosnellHow Your Business Can Use Pinterest

By now, we are all well aware that social media has the ability to take your business to the next level. If you take a look at any social media platforms you will not only find ads aimed to sell their product to users, you will also find that brands have their own presence on several different social platforms. With new platforms being developed all the time, how do you know if they will work for your business? What is the value of this platform? In this presentation, I will be digging deeper into the finer points of Pinterest and sharing my finding with you.

Pinterest: What is the Value Proposition?

As previously mentioned, its important to discover what sets different social platforms apart and what makes them right for your business. Pinterest is a perfect example of a platform that is significantly different from the rest. Its value proposition is that its a social sharing platform that allows users to share content with others and to organize and segment different posts from around the platform and the internet. The value of Pinterest is in its ability to both organize content and to share it.

Pinterest: Whos Using It?

Source: Pew Research Center Discovering who uses the platform is the second question you should be asking yourself. If your customer base isnt using a platform like Pinterest, its likely that you will want to look into your different options. According to a study performed by Ahalogy which focused on the United States, male users are starting to increase, although Pinterest is still largely dominated by women, who make up 82% of Pinterest users.Out of both male and female users, most are between the ages of 30-34 and tend to be single (33%).

It is also Important to note that male and female users behave differently on the platform. For instance, men are more likely to purchase an item that they have previously pinned. "2015 PINTEREST MEDIA CONSUMPTION STUDY. Ahalogy, 2015. Web. 15 Oct. 2015. https://www.ahalogy.com/blog/2015-pinterest-media-consumption-study

Pinterest: Whos Using It? If youre looking for Canadian statistics, they are much the same as our American neighbors. Ahalogy states that Canadian women make up 78% of all Canadian user. Canadians are also similar in age to American users, 77% are under the age of 44. 31% of Canadians on Pinterest are single and 53% dont have children.

Source: Global News"2015 PINTEREST MEDIA CONSUMPTION STUDY. Ahalogy, 2015. Web. 15 Oct. 2015. https://www.ahalogy.com/blog/2015-pinterest-media-consumption-study

Canadians are also frequent users of the site with 50% of users checking in on Pinterest at least 2-3 times a week and 52% spend more then 20 minutes browsing or pinning on the site.

What Pinterest Can Do For Your Brand!

Recently, Millward Brown Digital teamed up with Pinterest to ask users some questions about the items they pin.Out of the users who responded to the survey, they found that 93% of active users plan to purchase items that they have pinned.

Ahalogy also found some interesting information linked to users and shopping, noting that 67% of users consider the items theyve pinned when shopping online.

"Pinterest and the Power of Future Intent. Millward Brown Digital, n.d. Web. 15 Oct. 2015."2015 PINTEREST MEDIA CONSUMPTION STUDY. Ahalogy, 2015. Web. 15 Oct. 2015. https://www.ahalogy.com/blog/2015-pinterest-media-consumption-study

Source: Millward Brown Digital While sales are in many cases the main objective for businesses on social media, Pinterest offers brands the additional possibility to help develop a loyal following and customer base. By taking a quick look through Pinterest, you can clearly see that in many ways, the platform is used to educate its users. This can come in the form of recipes, tutorials, infographics or outfit suggestions. By providing users with quality, sharable content, brand can develop a devout user base who are sure to follow and re-pinning brand produced content.

Dates and Times: When To Post On Pinterest

Source: Social FreshNow that you know what your business can achieve with its Pinterest platform, its time to talk about the optimal times to post.

According to Quick Sprout, The best days to post are Saturdays between 2-4am and 8-11pm. On weekdays, you should stick to posting between 2-4pm and 8pm-1am.

Although it is important to know what hours you should be posting, its also important to keep in mind upcoming seasons and holidays throughout the year.

This is important when using a platform like Pinterest because users are interested in seasonal and holiday specific content like: recipes, DIYs and gift ideas.Neil Patel. "What Are The Best Times to Post on Social Media. Quick Sprout.

Pinterest: How to Measure Your Success

If youre still unsure of how Pinterest can fit into your social media presence, there are a number of ways to monitor the success of your brand using metrics such as: most clicked content, re-pinned content or traffic from Pinterest to your website. One way of monitoring this information is through the Analytics tool that is made available for business accounts on Pinterest. With this free tool, you are able to monitor all aspects of your account.In their extensive study of Pinterest, Ahalogy found that users not only respond to branded content, but in many cases, they prefer it to content shared by celebrities. They found that 1/3 of users currently follow brands and 83% were in favor of following their favorite brand over a celebrity.Source: Social Media ExaminerAlthough there are limited metrics available to define the success of Pinterest as a platform, its easy to see via the many statistics Ive provided so far, Pinterest has a loyal user base that frequents the platform often, is actively pinning and is open to digesting branded content. Many users intend to purchase the items they have pinned and there are a number of brands who currently use Pinterest to successfully meet their business objectives, while also building a brand culture and a loyal community."2015 PINTEREST MEDIA CONSUMPTION STUDY. Ahalogy, 2015. Web. 15 Oct. 2015. https://www.ahalogy.com/blog/2015-pinterest-media-consumption-study

Pinterest: B2B OR B2C? If youve had the chance to browse through Pinterest, you will quickly realize that its built for users. The platform is filled with rich media, images, infographics and very limited text. The whole concept behind Pinterest is to help users organize their favorite pieces from around the internet and to share it with each other. Businesses should be using Pinterest in a way that gives back to their audience through quality content that is helpful and educates their users on the many different possibilities that their product provides. This content is typically best suited for Business to Consumer organizations.

Source: Pixabay

How Kraft Uses Pinterest

Source: Krafts Pinterest

How Kraft Uses PinterestKraft Pinterest Account:Boards: 72Pins: 17.3KFollowers: 279.2K

Kraft uses Pinterest mainly as a way to promote their products through pinable recipes. One of the ways they provide quality content is through the use of seasonal dishes and recipes for a number of different holidays. They even capitalize on significant days of the year for sports fans with Tailgate specific recipes. Milestones like Birthdays, Weddings and Baby Showers are also given their own boards.

Not only does Kraft organize their content in an approachable way, they also provide recipes that are generally quick and easy to prepare.

Kraft is featured on Pinterets Success Stories, where they talk more about the approach they use on the platform.

Source: Krafts Pinterest"Case Study: | Pinterest for Business.Kraft. Pinterest.

The Cost Associated With PinterestPinterest is free for both personal and business accounts, but that doesnt mean there is no cost involved with registering your business and creating a strong presence. Firstly, you will have to set up the account on your own or pay someone to do it for you. One of the most important costs to keep in mind is content creation. You will need quality content to share with your followers, so its a good idea to take stock of the possible content ideas you have, as well as any images or content you have ready to use. Another expense to keep in mind is platform management. Now that you have your business on Pinterest, who is going to upload content, organize your pins, grow your audience? You will need to decide if you will be managing the account yourself or finding someone to help you. These expenses can range from a one time fee to monthly payments, depending on your business needs.All these aspects of running a successful Pinterest account will cost you and you will have to decide the best course of action for your business.

Helpful Information If youre looking for more in depth information in regards to Pinterest and you are looking to become active as a business on Pinterest, I would recommend checking out: Pinterest for Business: Everything You Need to Know -Business News Daily.

Sources2015 PINTEREST MEDIA CONSUMPTION STUDY. Ahalogy.. https://www.ahalogy.com/blog/2015-pinterest-media-consumption-studyPinterest and the Power of Future Intent. Millward Brown Digital. What Are The Best Times to Post on Social Media. Quick SproutCase Study: | Pinterest for Business.Kraft. Pinterest. Pinterest for Business: Everything You Need to Know -Business News Daily.