Pinterest is far from the top of the social media marketing pyramid. Although this platform is somewhat commonly in certain industries, notably food and retail, it is largely popular among consumers and artisans. However, like virtually every other social media website in the world, Pinterest too is beginning to get its feet wet with marketing capabilities and pursuits. As the site works to attract businesses and marketers, it is worth bringing into boardroom discussions about which social media websites will be used.
Certain sectors are not going to be all that well-suited to this medium, specifically service-oriented fields like insurance and banking. This is an entirely visual platform, so companies that manufacture or sell products will be better-positioned to use Pinterest as part of a marketing strategy. One new announcement has generated a wealth of buzz around Pinterest as a marketing contender.
Video ads now available
Pinterest is in the final stages of testing a video ad component that it has hailed as superior to those of other social media websites when it comes to conversions. Pinterest argues that Twitter and Facebook, among the other giants in the space, are far more focused on boosting video views than they are driving the audience to a purchase following the view. This is debatable, especially with respect to Facebook, which is currently the champion of the social media marketing arena.
However, some provocative statistics backed up the claim. For example, Pinterest cited data presented by Mary Meeker that revealed more than two-thirds of respondents to one survey stated they feel inclined to make a purchase after seeing a video on Pinterest. The new platform will create more structure for companies to use video ads in a more progressive fashion.
“People are actively looking to plan something or for inspiration, that is the sweet spot for us,” Adele Cooper, Pinterest’s Country Manager for the United Kingdom, told Marketing Week. “If the ultimate goal is to drive a sale, you can literally track if they put an item in their basket, if they complete a purchase. The middle and the end of the funnel is where we play most strongly.”
While the jury is still out, it appears as though Pinterest might indeed be a powerful marketing tool in the coming years.
Where to begin
MarketingProfs contributor Stephen Jeske noted active users are indeed looking to make purchases when they sign on Pinterest compared to the behaviors of Twitter and Facebook users who are more interested in the social aspects of those sites. As such, he suggested companies take an entirely different approach to their marketing campaigns on the site compared to other social media activity, potentially hard-lining in the direction of sales-centric posts and strategies.
In today’s competitive market landscapes, business leaders need to use every tool at their disposal to get ahead – and Pinterest might be the newest one available.