How to Use Pinterest Analytics for Business
The digital social media ecosystem seems to be dominated by brands like Facebook, Instagram, YouTube, and Twitter, as these are the social networks with the most active users worldwide.
However, when running digital marketing campaigns, many companies and agencies turn their attention (and investment) to a smaller social network with huge strategic potential: Pinterest, which already has more than 300 million users.
How To See Pinterest Analytics
To better understand the business impact of Pinterest for Business on the social media ecosystem, let’s take a look at the following ten facts about this platform in business:
80% of Millennials say Pinterest Metrics of tracks help them find products to buy, while 71% use the platform to find recommended purchases.
In general, millennials prefer Pinterest to make purchases through other social networks. Almost 50% of them bought a product they interacted with within the platform.
87% of Pinners (Pinterest users) have purchased items they saw on this platform, and 93% plan to do so.
90% of weekly users use Pinterest to make purchasing decisions, whether they’re making them now or later, online or offline. Even 72% do this to decide what to buy offline.
55% of pinners use the platform specifically to search for products, a behavior that is four times higher than on other social networks.
In proportion to the number of users, Pinterest generates 33% more shopping traffic compared to Facebook, 71% more than Snapchat, and 200% more than Twitter 77% of users discovered a new brand or product on the platform.
78% of users say the content posted by brands is useful, while more than 75% of pinned (saved posts) come from brands, businesses, and businesses.
Digital campaigns on Pinterest generate almost four times more sales than other platforms.
96% of active Pinners use Pinterest to research and plan events such as weddings or travel.
According to the Digital 2022, – Spain report conducted by Hootsuite and We Are Social, 60% of the Spanish population uses social networks, and Pinterest is among the most important.
Favorite Social Media Platforms Although
the top is dominated by meta-ecosystems (WhatsApp, Instagram, and Facebook), Pinterest has characteristics that make it the most powerful digital marketing platform in certain contexts.
Read on if you want to know how you can benefit from this community for your business at a very low cost.
What is Pinterest, what is it for, and how does it work?
Pinterest is a social network specializing in visual content: photos, images, infographics, and videos. The publication of these graphic materials by brands pursues different goals, the main ones being to inspire users through visual ideas, to motivate a lifestyle, and to educate about a topic through tutorials. All this is against the background of attracting prospects and converting them into buyers.
98% of Pinterest users test and apply the ideas they find on the platform. That’s because Pinterest aims to be inspirational and motivating. It is very different from Facebook, a social network that has to make enormous efforts to make its feed less passive and much more attractive to users.
To understand how Pinterest works, you need to understand a few key concepts, some of which we’ve already mentioned above:
Pinners: are the active users of this social network who publish, share or save content.
Pines: There are two meanings for this word.
On the one hand, there are pins as a tool. These are visual markers in the form of a pushpin (Pin, in English) that users use to “fix” any images that interest them. In some cases, the Pinterest logo thumbnail appears instead of the Pin, which serves the same function as a Pin.
On the other hand, there are pins as ideas. Users have pinned the very images that generally represent or convey an idea they might want to revisit in the future.
Boards: Boards, or boards, are gallery-like places where users store and organize (by topic) the images they’ve “pinned.” Businesses can also create these boards, but I’ll explain that point later so you can make the most of this resource in your Pinterest marketing strategy.
What’s very interesting about how Pinterest works is that the images users can pin don’t necessarily have to exist on the platform. This means pinners can save the image associated with your publication on their Pinterest boards if you publish content on your website, blog, or another portal.
That way, in the future, they can access your original post again from the image they pinned.
Thus, users have a great opportunity to store ideas, products, news, articles, and any other inspirational and valuable content all over the internet. By the way: Did you know that more than 14 million articles are pinned daily?
These and many more exclusive Pinterest competitive advantages have positioned the platform at the top of the most important ones in the world.
What are the main features of Pinterest?
Pinterest CompanySource: Pinterest-Pinterest lenses
The Pinterest camera performs two very specific types of visual search functions. One is called Lens your Look. This allows a user to take a photo of a product he already owns. The platform analyzes the image, thus generating recommendations on styles and ideas for using it or combining it with other elements, be it clothing, furniture, etc.
The other is called Shop the Look. The functionality is the same, but instead of focusing on finding and recommending styles and ideas for use, this feature returns results on products similar to those photographed and available for sale.
For example, if the user is walking down the street and sees someone wearing a pair of shoes they like, they take a picture of those shoes, and Pinterest shows them where to buy them and what other similar styles are available on the street internet.
Both functions work together and can be used for other very handy purposes. For example, if the user sees a plate of food and wants to know its recipe and how it is prepared, they take a picture of it, and the platform will return the information they want.
Business PinterestSource: Pinterest
However, the power of the Pinterest Lens goes much further as it is considered one of the most powerful augmented reality (AR) tools available on any social network today.
For example, the new feature of this AR technology called Try allows a user to point the camera at themselves and see how a certain color of lipstick or makeup might look on her. Based on your choices, the platform recommends beauty brands and products according to your preferences.
Advertising on Pinterest source: Pinterest
Pinterest Ad Manager
It is the section through which you can control everything related to advertising campaigns.
You can learn more about the different formats of Pinterest ads and see the technical specifications of these formats here.
Before you start testing features, you must first create a company profile. Here I leave the link to Pinterest’s step-by-step guide to doing it.
Click here to download the 7-Step Social Media Plan Template.
Why should you use Pinterest for your business? As we have seen so far, Pinterest for Business has exceptional qualities on the business side. Investing $1 in Pinterest ads generates an average profit of $2, while the gross return can be as high as $4.30.
On the other hand, more than 2 million users pin images of products they want to buy every day.
Therefore, the proven effectiveness of advertising and the growing demand of users make this social network very fruitful and promising for companies aiming for scalability, growth, and market penetration. Is it your case? So read on.
Another benefit of Pinterest for businesses is that even if a user finds you and visits you once, they will remember you. The link will remain as they can follow your account or save one or more of your pins to come back to later.
Therefore, this “simple action” is essential to your conversion funnel.
Also, the useful life of the pins is much longer than that of a post on any other social network. For example, the average lifespan of a post on Facebook is 90 minutes, while that of a Pin on Pinterest is 3.5 months. In other words, the impact of a Pin lasts 1680 times longer than a post on Facebook, on average.
So, if your Pins are properly optimized, and you continue to nurture your Pinterest marketing strategy over time, the impact of your published content could last forever.
One of the advantages of this is that the pins drive traffic to your website consistently and with minimal effort. This is because most of the work is done upfront, spending time and resources creating visually appealing content that encourages engagement and then optimizing it.
The benefits of Pinterest Business for businesses are countless and largely depend on your business’s nature. For example, do you have a physical store? So you should know that more than 60% of Pinners consult Pinterest when shopping in a store.
What should you know before you start your Pinterest strategy?
After you’ve created your Pinterest business profile, there are a few basic things you need to consider before executing your Pinterest marketing strategy. Let’s look at some of the most important ones:
Segmentation and Buyer Personality
Being a very visual social network, the characteristics of the pinners are very specific, which means that their behavioral habits and preferences are very different of users of other platforms.
Therefore, it is first essential to know our buyer persona well so we can understand what motivates them to search on Pinterest and determine how we can proactively offer solutions to their needs.
Also, we must not only focus on our buyer persona but also consider the characteristics of the segments that live in this social network. Some data that give us some idea of it are the following:
36% of Pinners are Millennials, 34% are Gen Xers, and 18% are Baby Boomers.
Almost 80% of users are women.
83% use Pinterest to plan life events and moments, 70% to find accessories, watches, and jewelry, and 52% to find out about food and drink.
When traveling, users consult Pinterest twice as often as traditional travel sites.
It would be best to consider this aspect because pinning on Pinterest is not the same as giving a like on Facebook or Instagram. In this case, pinning is a much more meaningful demonstration that a user is interested in your products and wants to access them on future occasions.