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Pinterest 2022 – is a “digital billboard” ready to retire or is it revealing new youth?
Did you know that 60 percent of users start their purchase or search for products on Pinterest, and 85 percent of them buy a certain product based on the pins they see? And you thought Pinterest was just some digital billboard… It’s a 12-year-old social network that experienced a new boom during the pandemic and is gathering new generations of users. There is obviously interest in Pinterest in Croatia, as the ten-year-old article that claims Pinterest is a social network that women adore is still one of the most read articles on Manjgura’s blog.
A huge image gallery or maybe something more?
Pinterest is a social network that functions as an online bulletin board, something like a virtual billboard to which users add interesting content they find online. From 15 million users in 2011, Pinterest has grown to an impressive 478 million in the last 10 years (or more than 450 million active users per month). At the end of the year, with the abolition of lockdown and the return of people to work, the number of users has declined slightly, so the latest statistics for December 2021 show that Pinterest is used by 444 million people worldwide. However, even though those numbers are far lower than, for example, Facebook, Pinterest has seen a 35 percent increase in users in just one year, something Facebook can only dream of.
Although it is among the most popular social networks in the USA, right behind Facebook, Pinterest is only 14th in the world, and the situation is no better in Croatia either – only a few of our brands can be found here. However, the great advantage of Pinterest is its advertising potential; its users mostly go there to discover new products and respond well to ads, moreover, appreciate them because it saves their search time. As experts describe, advertising on Pinterest is like advertising on a bus heading to the mall – everyone is ready to go shopping and that is the only thing they are thinking about at the moment😊
Although we could say that Pinterest is a large virtual image gallery, users use it in various ways – as many as 60 percent of users start their purchase or search for products on Pinterest, and 85 percent of them buy a product based on the pins they see. I believe most of us use Pinterest when we need inspiration for decorating our home, organizing events, or just want to cook something healthy and delicious but keep in mind that 78 percent of users say they discovered a new brand or product while searching Pinterest – and that’s where Pinterest hides its advertising potential.
This social network offers a mix of free and paid advertising tools, and by combining both you can earn 3 times more conversions and twice the ROI, compared to just paid ads. In addition, Pinterest has one of the lowest CPCs (cost per click) in social media advertising. Some of the novelties that Pinterest offers are testing the product via its camera on a mobile phone, multiple images (image gallery) in one ad, promoting “pins” that immediately take the user to a particular page, short video formats, more detailed ads with price and product description and a lot more of it.
A big advantage Pinterest has over competitors is its recommendation potential: Pinterest directs 33 percent more traffic to shopping websites than Facebook.
Although it is still dominated by women, who make up 77 percent, in recent years there has been a significant increase in male users who are increasingly discovering the charms of this virtual gallery. Last year’s statistics show that Pinterest users use it most for inspiration when decorating their home, for fashion tips, beauty, health, travel, weddings, and event planning. All this content is being pinned by users to their virtual albums, and a total of 240 billion pins have been saved so far. One thing is not changing, and that is that women are still more emotionally connected to the content, and therefore they “pin” more, record, and save content. You never know what you’re going to need it for! 😊
A new, growing trend is certainly the fact that today slightly more than half of Pinterest users live outside the United States, which further expands the reach, but also the impact of this platform. It is also interesting to see how much potential the platform offers for product placement because as many as 97 percent of all content searches are not related to a particular brand, which means that every advertiser can find an opportunity here. With that in mind, instead of just advertising our product or brand, we need to show customers what all our product can do, present them with product potential, and give them an idea of what they can do with it. It’s important to encourage them to save and share content, encourage them to try to do something on their own, and share it with other users.
In the end, we need to mention that in the third quarter of last year, Pinterest earned almost 633 million dollars. The pandemic seemed to work for Pinterest, we were all more or less “closed” in our homes, so it was time to make that space as comfortable and personal as possible. More than ever, users sought inspiration and collected ideas, and perhaps they were even more dedicated to their projects.
The numbers speak for themselves, so we can no longer ignore the great advertising potential that Pinterest offers, we just need to know how to use it well and wisely. If we still haven’t convinced you, take a look at how professionals do it. Maybe you get an idea😊
Oznake: digitalni trendovi, društvene mreže, oglašavanje, Pinterest
