Once viewed as a niche player in the social space, Pinterest has become one of the fastest growing social networks ever, harnessing both an increased user base and its exponential growth as a referring site to become a considerable force in the marketing world.
Pinterest is a social media platform allowing users to share mainly visual content: pictures, graphics, infographics, etc.
As of September 2013, the three year-old social media site Pinterest has more than 70m global users, making it one of the fastest growing websites in history. The social network provides a unique opportunity for companies to leverage visual content, quality descriptions, and insight into customers’ lifestyles and needs while growing their reach and improving their organic search results.
Pinterest drives a huge amount of traffic:
- Pinterest accounts for 25% of retail referral traffic.
- The traffic that Pinterest sends to websites and blogs is also up 56.2% from a year ago.
- Pinterest drives more traffic to publishers than Twitter, LinkedIn, Reddit and Google+ combined.
Equally important for businesses to consider is the buying power behind Pinterest: Pinterest users purchase items more often and in greater quantities, spend more money, and shop more frequently than any other social network. The role Pinterest plays for businesses is growing every day.
Unlike many social platforms (.71% conversion rate on average) Pinterest leads to sales.
People love shopping on Pinterest:
- Pinterest generates 4x more revenue (per click) than Twitter and 27% more per click than Facebook.
- Conversion rates for Pinterest traffic are 50% higher than conversion rates from other traffic.
- 47% of U.S. online consumers have made a purchase based on recommendations from Pinterest.
- Pinterest shoppers are spending significantly more per checkout averaging between $140-$180 per order compared with consistent $80 and $60 orders for Facebook and Twitter shoppers, respectively. (Rich Relevance)
- Sephora’s Pinterest followers spend 15 times more that its Facebook fans.
80% of Pinterest Users are Women:
Women are The Rocket Fuel of eCommerce:
- In e-commerce, according to Gilt Groupe, women are 70% of the customer base and they drive 74% of revenue.
- 77% of Groupon’s customers are female according to their site.
- Sheryl Sandberg, COO of Facebook, says that women are not only the majority of its users, but drive 62% of activity in terms of messages, updates and comments, and 71% of the daily fan activity.
- In Twitter, women follow more people, tweet more, and have more followers on average than men, according to bloggers Dan Zarella and Darmesh Shaw’s analyses.
- Women also dominate sites like Opentable, the majority of bookings are overwhelmingly made by females.
Here is a video from Entrepreneur.com about how Pinterest drives purchase intent and brand engagement like no other social media platform.
The data from research is pretty clear, Pinterest is rapidly growing in popularity and is a great source for referral traffic. How has Pinterest worked for your small business, got a tip we missed? Let us know in the comments!
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