is pinterest the next social commerce game changer?
Post on 17-Oct-2014
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Pinterest has become the fastest growing social platform in the world making its presence significant also in the Scandinavian market. The social platform has proven to be especially useful for driving sales. With its recently introduced new Business Account features such as Rich Pins, Guided Search and Pinterest Business Analytics, the platform gains an important role within the Social Media Portfolio for businesses. This presentation gives an overview of how companies can leverage Pinterest in their digital communication.TRANSCRIPT
IS PINTEREST THE NEXT SOCIAL COMMERCE
GAME CHANGER?KRISTINA PISKARSKAITE, MORSING, MAY 2014
TODAY’S MAIN TAKE-AWAYS
What is Pinterest?Why should we care?Understanding Pinners’ behavior Getting started with a Pinterest Business Account Leveraging Pinterest Business AnalyticsHow do your industry brands use Pinterest?How to manage a multiplatform digital portfolio: do‘s and don‘ts
WHAT IS PINTEREST?
Visual search engine for inspiration and idea collection
Top Pins on Food, Fashion, Design, Travel (Pinterest 2013)
70 million monthly users (Semiocast 2013)
30 billion pins (Pinterest data 2014)
750 million boards (Pinterest data 2014)
PINTEREST VS INSTAGRAM: WHAT IS THE DIFFERENCE?
What people share
What is happening to them or what they are seeing in the world
What they wish would happen to them in a form of aspirational ”lookbooking”
Typical user • Mostly 18-29 year olds• With college education• Mostly urban residents
• Mostly 18-49 year olds • Mostly women• At least with college education• With kids• With average annual income over
$100,000
Purpose Content creation (what I am doing/seeing)
Content curation (what inpires me from others)
Aesthetic More ”do it yourself“ photography More professional photography
Source Does not link to a source (not clickable link)
Linking to original source
Access Need to sign up No need to sign up
Main goals Raising awareness, building brand identity, engaging
Driving traffic to your site, Raising awareness, building brand identity, engaging
WHY CARE?Pinterest drives sales
Pinterest recently introduced various new Business Account Features: Rich Pins, Guided Search, Pinterest Analytics, etc.
Pinterest drives twice the website referral traffic of Twitter, LinkedIn and Google + combine (blog.shareaholic.com/social-media-traffic-trends-10-2013/)
Buyers referred from Pinterest are 10% more likely to buy and spend 10% more on average as opposed to other social networks (tamba.co.uk/thinking/blog/infographic-interest-in-pinterest-tamba/)
59% of Pinterest users have made a purchase based on an item they saw on Pinterest (http://www.steelhouse.com/social-shopping-2012-survey/)
Pinterest generated 4X more revenue (per click) than Twitter and 27% more per click than Facebook (http://www.quicksprout.com/2014/01/17/how-to-increase-your-pinterest-engagement-by-275/)
51% of marketers plan to increase their use of Pinterest in 2014/2015 (Social Media Examiner Report 2013)
Interesting: Pinterest also drives in-store sales through reverse “show-rooming” - 21% purchased an item after pinning, repinning or liking (Harvard Business Review, 01.07.2013, How Pinterest Puts People in Stores)
PINTERESTING? SO HOW DOES IT WORK?
Board
Pin
Repin
Add Buttons
Slang
WEBSITEBLOGeSHOP
Like/Comment
Analytics
Danish companies’ presence on the social media has increased from 42% in 2012 to 62% in 2014 (Lederne and YouGov, 2014)
Danish pinners doubled since end 2012Monthly active pinners up 182% from last year
63% of daily Pinterest usage on mobile
iPhone is 4x more popular than Android iPhone usage up 278% over the last year
WHAT ABOUT DENMARK?
Other data from Matt Crystal at Pinterest
DANES’ FAVORITE PINS2013TOPPINS/FAVORITES-FROM-DENMARK/
DIYS
FOOD/RECIPESHOME decor/design
FASHION
UNDERSTANDING PINNERS’ BEHAVIOR
Source: Pinterest 2013
Maybe I could...I know
what I want
I’m narrowingIt down...Just looking...
PRESENTFUTURE
UNDEFINED NEED
DEFINED NEED
UNDERSTANDING PINNERS’ BEHAVIOR
Harvard Business Review, 01.07.2013, How Pinterest Puts People in Stores
The Deal Seeker
The Social-Proof Seeker
Pins good deals from various platforms
Pins what they like
Signals interests by pinningDoes not influence buying
The Category Seeker
The Nonseeker
Pinterest is a search toolDoes board-shopping lists
The Inspiration Seeker
Searches on stranger’s boardsMore casual browsing
HOW PINTEREST AFFECTS PURCHASING DECISIONS
HOW DID PINTEREST AFFECT YOUR PURCHACE DECISION?
Information
Discovery
Reminder
Thought leadership
Information
Reminder
Sales promotion
Harvard Business Review, 01.07.2013, How Pinterest Puts People in Stores
What is your goal?• Increase your brand authority• Expand your reach• Drive traffic to your site
Whom are you reaching out to?
INTERESTING QUESTIONS BEFORE STARTING YOUR BUSINESS ACCOUNT
Remember: Self-promotion does not really work on Pinterest, you’ll need to tell a story through content curation
HOW TO GET STARTED WITH A PINTEREST BUSINESS ACCOUNT?
HOW TO LEVERAGE PINTEREST BUSINESS ANALYTICS?
HOW DO YOUR COMPETITORS USE PINTEREST?
HOW TO OPTIMIZE YOUR MULTIPLATFORM DIGITAL PORTFOLIO?
DO YOU WANT TO KNOW MORE?GIVE US A CALL
SOL [email protected]+45 20 10 44 20
KRISTINA [email protected]
+45 53 61 02 00