Back in November 2012, Pinterest released, Business Pages, a new feature geared towards businesses and marketers. These Business Pages are not brand pages like what one would expect to find in other social networking sites. These pages actually look the same as the other pages. There are a couple features that set Business Pages apart from other Pinterest pages.
First, website authentication is now part of the sign up process. Also, businesses are able to enter business names when signing up for their accounts instead of dealing with the hassles of entering individuals’ first names and last names. There are new terms of services for businesses (before this launch, Pinterest was strictly “non-commercial”).
Why should businesses be excited? The evolution indicates possibilities for the future. Pinterest is undoubtedly expanding their reach by adding more business and marketing related tools. The added features could bring brands on board to further merchandise goods through business pages. Will Pinterest be the next Amazon?
Researcher Eric Gilbert from Georgia Tech and Loren Torveen from the University of Minnesota recently teamed up to use statistical data to answer the question of “What drives activity on Pinterest?” They used their data to …
- help understand the motivations behind Pinterest activity,
- determine what roles gender plays among users of Pinterest, and
- investigate the factors that distinguish Pinterest from other social networking sites.
Gilbert and Torveen ultimately found that:
- Female users have more repins, no matter what their location geographically.
- Men tend to typically have more followers on Pinterest.
- There are 4 verbs that set Pinterest apart from Twitter: “use,” “look,” “want,” and “need.”
Gilbert noted that “You can use the word ‘this’ after all of these verbs, reflecting the ‘things’ at the core of Pinterest. Many press articles have focused on Pinterest’s commercial potential, and here we see verbs that illustrate that consumption truly lies at the heart of the site.”
If you were thinking about using Pinterest for marketing, all systems are “go.” According the researchers, a recent market survey “showed that a higher proportion of Pinterest users click through to e-commerce sites — and when they go there, they spend… more money than people who come from sites such as Facebook or Twitter.” In fact, Venture Beat reports that Sephora’s fans on Pinterest spend 15 times more through Pinterest than from Facebook. Additionally, shoppers on Pinterest average spending at $140-$180 each checkout, which is truly remarkable when compared with the $80 from Facebook and $60 on Twitter.
So, who should you be marketing to on Pinterest as Business Pages accelerate and features change on the site to appeal to businesses? Well, moms are 61% more likely to visit and spend time on Pinterest than the average American, according to a recent Nielson report. Internet Marketing reveals that for those U.S. Pinterest users, they are more likely to be pinning from the Midwest.
Oh, and that Georgia Tech and University of Minnesota research collaboration also gave us this takeaway:
“After conducting this research, if I had to choose where to put my money and marketing, Pinterest would probably be my first choice.” ~Sara
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