Pinterest is a rising social media phenomenon that a lot of businesses can benefit from when used correctly. What makes Pinterest unique from other social media platforms is its ability to level up on non-disruptive advertisements.
But let’s start with the basics – What is Pinterest? Pinterest is a social media network that allows users to share content associated with projects, goods, and services. Through the use of its recommendation algorithm, the platform promotes users to discover new interests. Pinterest also allows users to connect through post interactions and private messaging. Users can like, resave, and comment on posts shared by users or boards they follow.
Before Pinterest was what it is today, it was a platform called Tote, a mobile catalog. CEO and visionary, Ben Shibermann, partnered with Paul Sciarra to create this catalog but after receiving no help from investors, they teamed up with Evan Sharp to co-found Pinterest in 2010. A little short of a decade later, Pinterest joined the New York Stock Exchange for public trade putting their valuation above $12 billion at the time.
With more than 320 million monthly active users, Pinterest is primarily used by women ages 25 to 54 years of age. But don’t think there isn’t a strong male population using the app. 40% of United States dads use Pinterest. It’s a great platform for users to get new ideas and learn new things. A lot of businesses have leveraged on Pinterest business functions to connect with more users. Pinterest’s business functions aids in helping businesses follow through with their call-to-actions. Businesses can set up business accounts to engage with users and present their projects. From there they can post content as rich pins, pins with more information like links. This is a non-disruptive way of advertising because it blends in with regular pins but remains convenient for both the user and brand. When brands create boards centered around a theme that can advertise their products while also inspiring users with ideas related to what their search is about. For example, I hypothetically am looking to plan a beach trip, so I begin my search for beach trip essentials. I can then come across a board made by Target with the top things to bring to the beach. Target uses rich pins that will redirect me right to their site. Rich pins not only benefits brands that have online stores that make it easy to buy things but also blogs and news sites. They can bring traffic to articles, blog posts, recipes or even apps. Pinterest for Businesses is a great way for brands to connect with users and sell.
Some examples of companies who have achieved great success with Pinterest Business would be Target, Wayfair, and similar companies. They are a great example of a company connecting with users through similar interests and turning them into customers.
I think the future for Pinterest is very bright because of non-disruptive advertising that other platforms have not gotten the hang of. I hope to see more brands using Pinterest for their interest. For some brands, it may be hard to find their angle in but it’s a great way to connect and network with users globally.
References:
Carlson, N. (2012, April 24). Pinterest CEO: Here’s How We Became The Web’s Next Big Thing [DECK]. Retrieved from https://www.businessinsider.com/pinterest-founding-story-2012-4#this-is-ben-silbermann-the-ceo-of-pinterest-he’s-soft-spoken-he-dresses-like-any-old-twenty-something-living-in-san-francisco-or-brooklyn-1
Cover, L. (2020, March 13). 11 Pinterest facts (and 30 stats) marketers must know in 2020. Retrieved from https://sproutsocial.com/insights/pinterest-statistics/
Driver, S. (n.d.). How to Use Pinterest for Business. Retrieved from https://www.businessnewsdaily.com/7552-pinterest-business-guide.html
Feiner, L. (2019, April 18). Pinterest ends its first day of trading up 28%. Retrieved from https://www.cnbc.com/2019/04/18/pinterest-ipo-stock-starts-trading-on-the-public-market.html
Moreau, E. (2019, December 1). Everything You Need to Know to Start Using Pinterest. Retrieved from https://www.lifewire.com/how-to-use-pinterest-3486578
