establishing your brand and maximizing roi on pinterest - presented at digital summit dallas 2012
DESCRIPTION
This presentation is an introduction and practical guide for marketers looking to leverage Pinterest. Learn what Pinterest is and isn't, as well as how it differs from other social networks. Then, get a step by step guide to building your brand on Pinterest. And lastly, dig into advanced topics for maximizing ROI. There is also a link inside to get a free Pinterest analytics dashboard.TRANSCRIPT
Establishing Your Brand & Maximizing ROI on
Daniel Maloney, CEO & Co-founder
@PinLeague @danielpmaloney #ddsummit
@PinLeague #ddsum12 954-505-8008
This Presentation is
Interactive
@PinLeague #ddsum12 954-505-8008
What do YOU want to discuss?
1. What Pinterest is (and isn’t)
2. Building Your Brand on Pinterest
3. Maximizing Pinterest ROI
@PinLeague #ddsum12 954-505-8008
Thank You!
Here’s A Gift
First Name + Email
(954) 505-8008
@PinLeague #ddsum12 954-505-8008
1. Mobilize Fan Base
2.Attract New Customers
3. Analytics & Insights
PinLeague makes
Pinterest Marketing
Easy
@PinLeague #ddsum12 954-505-8008
Data is at our Core
Pinterest Data
Each Day…
15 million Pins
3 million Profiles
Analytics & Insights Content, Influencers, Competitors
Audience Engine Find Your Target Audience
PinMail Socially powered E-mail
WHAT
IS
(AND ISN’T)
@PinLeague #ddsum12 954-505-8008
Fastest to 10 Million Monthly Users; now ~27 Million
Source: http://compete.com
10/2012
@PinLeague #ddsum12 954-505-8008
Source: http://info.rjmetrics.com/blog/bid/52877/Pinterest-Data-Analysis-An-Inside-Look
“It’s ADDICTIVE!”
@PinLeague #ddsum12 954-505-8008
175 Repins per Comment
Source: PinLeague data, based on a sample size of 3.3 million pins
It’s NOT Conversational
5-25 mins
It’s NOT about Status Updates
Sources: http://corp.klout.com/blog/2011/11/the-life-of-a-tweet/; http://www.marketingpilgrim.com/2011/04/new-study-half-life-of-a-facebook-post.html; Pin League client data: internal + Google Analytics; based on a sample of client repins; April 2012
5-25 minutes
80 minutes
> 1 week
5-25 minutes
80 minutes
@PinLeague #ddsum12 954-505-8008
Pinterest is an Online Pinboard
@PinLeague #ddsum12 954-505-8008
What have YOU
used pinboards for?
@PinLeague #ddsum12 954-505-8008
…Life events
…Home Projects
…Shopping
…Gifting
…Education
…Self-identity
Pinterest makes
Social.
@PinLeague #ddsum12 954-505-8008
Discovery & Planning
Pinterest makes
Social.
@PinLeague #ddsum12 954-505-8008
Fundamental Difference
What I’m doing
Who I am
Who I WANT TO BE
@PinLeague #ddsum12 954-505-8008
It’s Brand and Product Inclusive
@PinLeague #ddsum12 954-505-8008
More Referrals Per User,
More Revenue Per Referral
1.0 1.1
14.0
Twitter Facebook Pinterest
Ratio: Referral Share to User Share
14x
12.5x
Source: http://blog.eloqua.com/pinterest-social-media-marketing/; http://activ8social.com/2012/09/25/pinterests-power-infographic/
$69 $80
$179
Twitter Facebook Pinterest
Average Order Value from Social Referrals
BUILDING YOUR
ON
@PinLeague #ddsum12 954-505-8008
How Does Pinterest Factor into Your Social Media Mix?
Not Yet Pinning
Have Started Pinning
Growing Quickly
Pinterest = #1 Social Site
@PinLeague #ddsum12 954-505-8008
Will You Invest in Pinterest in 2013?
No.
Yes- Same as Today
Yes- More Than Today
@PinLeague #ddsum12 954-505-8008
Pinterest Adoption is Growing
Source: PinLeague research
312
403
530
83 101 124
0
150
300
450
600
March June September
Top 1,500 Brands on Pinterest
Have Profile Have 1,000+ Followers
Our Estimate:
90% penetration
in 2013
@PinLeague #ddsum12 954-505-8008
Early Brand “Winners” Emerging Women’s Magazine Brands: Conde Nast, Hearst, Meredith
Brand Followers
Harper’s Bazaar 5,645,247
Better Homes & Gardens 205,853
Seventeen 95,213
Marie Claire 92,839
Country Living 73,424
Lucky Magazine 58,791
3 brands >25,000
8 brands >10,000
17 brands <10,000
Good News: Pinterest has started to promote early adopters
Bad News: This window of opportunity will close
Source: Clarity Pinterest Analytics Dashboard - http://clarity.pinleague.com
@PinLeague #ddsum12 954-505-8008
80 / 20 80% of focus spent on Company profile / boards
80% of buzz and revenue from USER pins
@PinLeague #ddsum12 954-505-8008
Step 1: Know Your Audience
What is being shared / said about your brand?
Who is doing the sharing / talking?
@PinLeague #ddsum12 954-505-8008
Get A Free Analytics Dashboard at PinLeague.com
@PinLeague #ddsum12 954-505-8008
Step 2: Design CONTENT for the User
5 things they LOVE +
5 things they have a hard time finding +
2 things about you
= Your First 12 Boards
@PinLeague #ddsum12 954-505-8008
Cover Photos are Critical
Source: http://mashable.com/2012/05/29/pinterest-eye-tracking-study/#view_as_one_page-gallery_box5709
@PinLeague #ddsum12 954-505-8008
Cross-Platform
Step 3: Engage Your Fan Base
Integration Contests & Charity
@PinLeague #ddsum12 954-505-8008
Contests Can Draw Attention…
3,434 3,819
421
1,720
0
1,000
2,000
3,000
4,000
Restaurant Chains on Pinterest –Followers in September
panerabread maggianos pfchangs tgifridayspins chilis qdobamexgrill
Jumped to #2 with “Pin it to Win It”
contest on their blog
Source: Clarity Pinterest Analytics Dashboard - http://clarity.pinleague.com
@PinLeague #ddsum12 954-505-8008
…But Require Ongoing Promotion
Results
• 1,100 followers in 3 days
• Growth slowed down again substantially
Over 3 months: $0.41 / follower
@PinLeague #ddsum12 954-505-8008
Honda Jumped to An Early Lead
5,044 5,384
312 1,545
0
1,000
2,000
3,000
4,000
5,000
6,000
Automotive Brands on Pinterest –Followers in September
honda volkswagen porsche peugeotpanama officialmini jeep
"Pintermission:” A 24-hour break from Pinterest to visit places or buy products they've pinned about (with $500 cash)
And Jeep?
Source: Clarity Pinterest Analytics Dashboard - http://clarity.pinleague.com
@PinLeague #ddsum12 954-505-8008
Source: Clarity Pinterest Analytics Dashboard - http://clarity.pinleague.com
>1,000 Pinterest followers in 2 days
Growth tripled from 35 to 110 /wk
23k Likes later…
@PinLeague #ddsum12 954-505-8008
Step 4: Measure and Adjust
http://PinLeague.com
MAXIMIZING
ROI
@PinLeague #ddsum12 954-505-8008
The Most Common Reason for NOT Investing in Pinterest…
“I can’t justify the ROI vs. investing in Facebook or Twitter, where we have more followers.”
@PinLeague #ddsum12 954-505-8008
The Marginal Cost of Growth on Pinterest is Lower then Facebook
$0.01 – 0.50 $0.25 – 1.27
So, the issue must be critical mass
Source: http://www.emediavitals.com/content/price-facebook-fan
@PinLeague #ddsum12 954-505-8008
PinLeague can identify your E-mail subscribers and followers that use Pinterest and reconnect you with them
16k followers
471k fans
2.1M subscribers
*Twitter and e-mail available now, facebook coming soon
Energizing Your Base is the Fastest Path to Critical Mass.
@PinLeague #ddsum12 954-505-8008
2.1 M E-mails
Most Companies use a single Blast; this is a Flawed Approach
600k on Pinterest
1.5M Not on
“Yay!”
“Don’t SPAM Me!”
@PinLeague #ddsum12 954-505-8008
2.1 M E-mails
But Each User is Unique; Speak Their Language!
600k on Pinterest
1.5M Not on
800k Facebook
300k Twitter
@PinLeague #ddsum12 954-505-8008
Case Study: PinMail + Online Retail
60k
Users Targeted
$1,800 spend
Weekly email sends
+$11k / mo
on Pinterest
+12k Pins by users
+2,500 followers
@PinLeague #ddsum12 954-505-8008
2nd Fastest Path to Critical Mass: Influencer Recruitment
Not 1 of OldNavy’s 20 most influential
followers have pinned from
oldnavy.gap.com
@PinLeague #ddsum12 954-505-8008
Potential Applications
Content Analysis • SEO •Product Testing
Influencer & Fan Identification
•Build Influencer Network for all Ad Campaigns •HR / Recruiting Tool
Competitive Intelligence
•Merchandising •Track Campaign Effectiveness •Recruit Competitors’ Customers
Finally, Leverage Pinterest Data Elsewhere
@PinLeague #ddsum12 954-505-8008
How Can I Help?
First Name + Email
(954) 505-8008
@danielpmaloney