Pinterest is a platform usually associated with brides to be, old ladies with 101 ways to use cat hair and dreamers with very ambitious lifestyle goals. But could Pinterest be the key to reaching untouched segments of your audience?
With a net worth of $11 billion and expected turnover of $500 million in 2017 it seems that Pinterest is the place to be. Pinterest is a platform usually overlooked in a marketing plan, however it ranked #31 on CNBCs 2017 disruptor list this year – giving it plenty of edge over traditional ‘safe’ methods of advertising.
The main point of different for Pinterest over other social media is that it is a unique platform where people are looking to the future – not living in the past, or stuck in the present. The audience on Pinterest are actively looking for products, services or experiences to fill voids they see in their lives. This is a powerful business tool that puts you in front of your audience. Your audience will be willing to engage with things that are relevant to their interests and life milestones.
Pinterest’s demographic may not be as old and mono-gendered as you might think, with 40% of their users aged between 18 – 34. While females dominate the platform, 40% of new users are male.
The platform provides many options for brand awareness and call to action campaigns; ‘buyable pins’ and ‘shop the look’ are two of the most attractive features.
Buyable pins highlight certain products users can purchase by adding a link to shop. These can be promoted both with, or without an advertising budget.
‘Shop the look’ is a very similar feature, however instead of offering just one option, users are able to view multiple items that may feature in one pin.
While campaigns can be managed completely free of charge, adding a budget can significantly drive the reach and engagement of a pin – much in the way that Facebook operates.
Currently there are only a handful of agencies that have access to the Pinterest API across the globe. This can be a huge advantage when running a Pinterest campaign. These agencies have an in-depth understanding of the market and have access to a number of tools not available to the general public. However – this experience comes at a cost. While self-managed Pinterest campaigns have no minimum spends, large agencies have minimum spends of up to $6k per campaign.
Managing a campaign yourself or entrusting the help of a small agency brings lower fees, greater transparency, and more control over content and audience targeting.
If you’re interested in Pinterest advertising and would like some advice on what option would work best for you, drop us a line!
Shea, Alana & the rest of the team