Why You Should Put Your Business On Pinterest
With the ever-expanding Internet world, its unparalleled and untapped potential, social marketing continues to increase in popularity among advertisers. Social networks have set themselves up as platforms where people can interact and connect anywhere and at any time through words, pictures, or videos. This, in turn, has given businesses an avenue where they can reach large audiences. One of the main players in the world of social networks is Pinterest. It attracts over 150 million “pinners” worldwide, and marketers have started noting its huge potential. Pinterest allows users to “pin” images and share them with their followers. While Pinterest is highly popular among consumer marketers, B2B marketers are lagging behind.
New research shows that businesses without a presence in Pinterest are losing a lot. Neustar reports that users of this platform who engaged in advertisers’ content were 40% more likely to cart at checkout. For example, a user who viewed an ad on Pinterest was likely to spend $140 on purchases, when compared to a non-Pinterest user who would spend $100. In addition, Pinterest came first when comparing paid impressions, which turned out to be 30% more effective when compared to online display ads which came second.
Pinterest ads also deliver a ratio of 28:1 return on ad spending. Neustar also found out that clicks provided the best indicator for a future sale by providing retailers with a 500% lift in sales. Pinterest is expected to bring in $3 billion in revenues in 2018. If this forecast is accurate, then it would beat the $100 million revenues Pinterest reportedly raked in last year. To enhance sales, Pinterest encourages advertisers on its site to set up Promoted Pins. It has even made it easier by providing a new “Promote” button that launches Promoted Pin campaigns in as little as 9 seconds. The market is also buzzing with the idea of Pinterest going public, with speculation fuelled by the arrival of the former VP of finance at Twitter Todd Morgenfeld, as its first CFO. Here are some of the main reasons to promote your business on Pinterest.
- Pinterest allows you to reach your desired audience
Boosting over 150 million Pinners, the platform is sizeable enough to reach your targeted audience. Research shows that 67% of users are under 40 years. In addition, many of them enjoy a household income of over $100k, making it a potentially profitable platform to reach your audience.
- Your investment is long term
One of the major attractions of the Pinterest platform is that your Pins last forever. This means that if you produce quality content, it will likely remain relevant for a very long time. Coupled with the fact that Pinterest is powered by search and discovery means your content will always have evergreen value. In addition, since its content is visual, all you have to do is upload quality and exceptional product or service and add a caption to allow clients to reach you.
- Ideal for exposure
Since Pinterest is based on photo sharing, it is especially ideal for businesses seeking a platform to exhibit their work online. This is especially an advantage to businesses such as fashion design, interior decorators, and architects among others.
Pinterest generates more referrals than any other major networking sites. This means that a business will be forced to seek more creative ways of sharing content to earn more leads, sales, and conversions. This will especially force businesses to provide quality products and generate content to stay relevant. The best thing is that if you impress your customers, they will likely refer other customers to your business which is a huge boost.
- Seamless integration with your other social networking sites
Pinterest allows its users to integrate their other social networking sites such as Facebook, Twitter, and websites among others to pins. This means that when you generate a pin, it is automatically posted to your other news feeds for others to follow.
- High user engagement
Pinterest has a ridiculously high user engagement. People like following great content and it is very easy for it to go viral. In addition, many users will be more than willing to let you know what they like, which can help you improve on your advertisements.
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