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Pinterest as a Marketing Tool
May 2012
Whitepaper
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Disclaimer
To the viewers of this report
This report is prepared in accordance with our findings on Pinterest. This report has been prepared on the basis of desktop research conducted in May 2012. Because it’s a sample report created for business development purposes, our report may not be suited for any purpose other than to assist you in your evaluation of our research capabilities. Additionally, our report reflects events and circumstances as they currently exist.
We have not independently verified the information gathered or contained in this report and, accordingly, express no opinion or make any representations concerning its accuracy or completeness.
We shall be pleased to receive your observations on our report.
Our report is for your information only and should not be quoted, referred to or transmitted to another party, in whole or in part, without our prior written consent.
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Pinterest, a pinboard-style social photo sharing website launched in 2010 is fast gaining traction among social media audience
is stepping up as a valuable tool for businesses
Pinterest is ….
Was launched in 2010
A virtual pinboard where people share and collect the things they love
is well funded by group of successful entrepreneurs and investors
As of Jan 2012, Women account for most of Pinterest users
20% 80%
Most of Pinterest users are between 25-44 years of age
65 or more
55-64
45-54
35-44
25-34
18-24
0-17
2%
5%
16%
25%
30%
17%
5%Age
Majority of Pinterest users live on household income between USD 25-75k
Annual Household Income (USD)
150,000 or more
100,000-149,999
75,000-99,999
50,000-74,999
25,000-49,999
0-24,999
3%
6%
14%
34%
35%
8%
Source: Internet Marketing Inc.
is built by a small team in Palo Alto, California
Founded by Paul Sciarra, Ben Silbermann and Evan Sharp
As per ComScore total number of unique visitors on Pinterest was ~12 mn
Number of Total Unique Visitors on Pinterest
Pinterest is growing at an astounding rate
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
418
608
1031
1270
2073
3295
4855
7516
11716
Thousands
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Marketing potential of Pinterest lies in its fast adoption coupled with high referral and engagement rates
As per TechCrunch, Pinterest is expected to have 180 million users by Nov 2012
Pinterest is the fastest adopted social media platform after Google+
Adoption rate after 2 years of launch
Google+
3
6
10.4
90
Mn users Pinterest has witnessed increased referral traffic as compared to its established peers
Referral Traffic (Jan 2012)
Google+
0.20%
0.22%
3.60%
3.61%
26.40%
Pinterest is retaining and engaging users as much as 2-3 times as efficiently as Twitter was at a similar time in its history
Source: Internet Marketing Inc.
Most Popular pinboard categories
Over 60% of pinboards fall into the top 5 categories
Kids
Travel
Products
Humor
Holidays/seasons
Inspiration/Education
Food
Style/Fashion
Arts and Crafts
Home
1.8%
1.9%
2.1%
2.1%
3.9%
9.0%
10.5%
11.7%
12.4%
17.2%
Average time spent on the site
YouTube – 16.4 minutes
Pinterest – 15.8 minutes
Facebook – 12.1 minutes
Twitter – 3.3 minutes
Pinterest influences more sales transaction
Pinterest drives more sales than Facebook
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Businesses are witnessing increased traffic from Pinterest to their websites as compared to other social media sites
In October 2011, the website of Time Inc.’s Real Simple magazine witnessed more traffic from Pinterest than Facebook.
Eye glass retailer Warbly Parker reports that 11% of their social traffic is coming from Pinterest compared to 18% from Twitter
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Best example of lifestyle brand doing great things on Pinterest.
Better Homes and Gardens has highest number of followers (25,391) on Pinterest as of Feb 2012.
Source: Internet Marketing Inc., Hubspot, News Articles
However by December referral traffic from Pinterest increased to 1% and currently accounts for 2.63% of traffic
For Perpetual Kid, Pinterest traffic converts to a sale at twice the rate of Facebook traffic
In 2011, Perpetual began its Pinterest exposure and in mid 2011, the traffic from Pinterest was around 0.20%
Lowe witnessed 32% increase in their followers on Pinterest and aims to increased customer engagement
Lowe’s has incorporated a Pinterest tab on its Facebook page The average order value of sales driven
by Pinterest to Boticca.com has been $180, 10% higher than overall site average and 90% higher than Facebook
Boticca.com, one of the first ecommerce players to integrate Pinterest across its website
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Lack of interactions between users and measuring success rate presents some challenges for Pinterest adoption
The company has attracted a valuation of $1 Billion, this could be overvalued.
Pinterest is growing fast but not at the pace claimed
10 Million Users0
5
10
15
20
25
Reported Growth Actual Growth
Mon
ths
The biggest problem on Pinterest is that users don’t talk to each other
Pinning certain images to Pinterest could constitute copyright infringement
Success on Pinterest is difficult to measure
Only time will tell who comes out on top for social media supremacy
Source: Business Insider, The Sacramento Bee
If you are not a product driven business, it can seem challenging to use Pinterest
Lack of dedicated brand pages specifically for business is a challenge.
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Companies can use Pinterest as an effective Marketing Tool to gain more insights about their consumers and competitors
Pinterest is a visual social network
Feature Visual Content
Enable other users to contribute their own pins to your pinboards
Create a User Generated Pinboard
This will help to expose your brand to a new audience
Add a Pin-it Button to Your Website
View pinboards of your customers to understand their interests
Gather Insight Into Your Buyer Personas
Include links back to your website in your pins to drive traffic back to your website
Add Links in the Descriptions of Your Pins
Users can use hash tags to tag their pins and make their content search-friendly
Use Hash Tags
Pinterest has a heavy life style focus, use it to give your business a personality
Showcase Your Business Personality
All businesses should use Pinterest for competitive intelligence
Find Out What Your Competitors are Pinning
Source: Internet Marketing Inc., CIO
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About SUMO Research Solutions (SRS)
SUMO Research Solutions (SRS) offers outsourced business research services to consulting, research, financial advisory firms and corporate clients. Our services include industry and sector reviews, market estimation studies, competitive studies and partner search. We assist firms who wish to outsource their research needs to our centre in India. Geographically, our clients span across US, UK, Middle East and India
We, at SRS are adept at collecting, analyzing and synthesizing our findings into information that can readily be used by your business. Our credo of hiring the best crop of consultants and research professionals ensures we go beyond mere "information analysis" by drawing logical conclusions from the data.
Our research process is our key differentiator and helps us stand tall among other market research firms. The ability to combine straight forward secondary research with complex primary research gives us the edge and assures our clients of genuine, verifiable results.
We follow a structured process to ensure high quality standards and adherence to timelines, in all engagements. At SRS, we also believe in communicating with our clients at every stage and have a constant feedback mechanism to ensure that the research being conducted is in line with client objectives.
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Contact DetailsMs. Nibha Kaul, CEOEmail: nibha.kaul@sumoresearchsolutions.comMob: +91-98192 13030URL: www.sumoresearchsolutions.com
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