One year ago, “pinning” had more to do with sewing or bulletin boards for most people than with one of the hottest social sites around. Over the last several months, Pinterest has become a breakthrough marketing opportunity, especially for lifestyle and publishing brands.
Brands have started to dive into Pinterest with gusto. As an example, The “Brands on Pinterest” board by Kelly Lieberman, founder of #PinChat, a weekly Twitter chat about marketing on the platform, includes 689 pins that link to brand accounts as of this posting.
Companies have good reason to fire up a Pinterest presence:
- It’s popular: Late last year news broke that traffic to Pinterest surpassed Google+ and Tumblr, and the news kept coming. It’s the third most popular social network, according to an Experian report. Users are spending an average of 89 minutes on the site. (More anecdotal evidence of its intense popularity: The Washington Post called it “digital crack for women,” people are self-diagnosing themselves as Pinterest addicts, and posts like this one have begun to circulate.)
- It’s driving traffic: Pinterest generated 3.6% of referral traffic in January 2012. (Twitter’s was 3.61%). Retailers have also seen huge jumps in referral traffic.
- It’s affecting sales: 21% of Pinterest account holders surveyed by PriceGrabber purchased items that they found on someone’s pinboard. Pinners who are introduced to companies for the first time through Pinterest generate four times as much revenue per click than Twitter and 27% more than Facebook. This stat comes from Convertro, which also found that revenue per click for multiple touch points is highest for Pinterest compared to others including Twitter and Facebook.
There has been an enormous amount information published about Pinterest over the past several months. In our webinar Thursday, April 19, we’ll distill this into a session designed to give you the most relevant data and strategies for launching and optimizing your brand’s presence there and share how other companies are effectively harnessing it to get results.
UPDATE April 19, 2012: Watch the recorded version of the webinar at this link.
(Also, take a peek at this new infographic from Hubspot’s Dan Zarrella, which offers some insight into how to boost your chances of getting repinned.)