Is Pinterest the Social Media Marketing tool of the Future?
After coming in third behind Facebook and Twitter at the Experian Hitwise’s ranking of the Top Ten Social Media Networks, it is no surprise that Pinterest is no longer the dark horse in the world of social media. Having only joined the World Wide Web in 2009 and launched in 2010 the site is now visited by more than 1 million users daily, putting Pinterest at the peak of the Blog talk pile.
With 70 million users and climbing, this visual-based social network is beginning to step up as a valuable marketing tool for many businesses. The site uses simplicity to harness the power of personal points of interest. It is essentially a virtual pinboard which allows users to browse, organise and share their interests with others in a visually appealing way. The unique selling point of Pinterest lies in its ability to create topic specific pinboards of captivating and fascinating images. Users can then browse and engage with other pinboards to gain inspiration and discover new interests.
The significance of such technology for marketers is that it can act as a growing resource to better understand your customers and therefore be effective in brand and business promotion. This influential network is driving a great deal of referral traffic. A recent article by Gillian Polard on socialmedia today.com stated that 47% of US online consumers have made a purchase based on recommendations on Pinterest and this figure is growing continuously both inside and outside the US. Pinterest generates 27% more revenue per click than Facebook and four times more revenue per click than Twitter, which acts as a great accomplishment for any social media platform to catch up on Facebook and Twitters “Number One” status.
This online bulletin board can generate more traffic to websites and act as a strong lead generator for companies. In the book “Pinterest of Power” by Authors Jason Miles and Karen Lacey a spokesperson for the Pinterest team stated that “For brands, pinning can be a great way to highlight aspects of your brand that may not come to mind at first when people consider your brand or company. As simple as it sounds, best practices for using Pinterest for brand purposes centre around pinning like a regular user”.
So is it time perhaps for Facebook and Twitter to move over? The Pinterest Phenomenon is expanding at a rapid pace and is beginning to transform the world of marketing by adding value to both your business and your consumer. Pinterest as a social media platform is continuously gaining momentum in the marketing world as a social media marketing tool of the future.