As Pinterest Hits 150MM Actives, It’s Time to Re-Think Your Social Approach

Standard

Originally published on AdvertisingWeek.com & Huffington Post.

While Pinterest has been whispering about their 150 Million Monthly Active user count since Advertising Week, yesterday marked the first official announcement of their milestone increase in users since 2015.

Their latest product releases—including an innovative new mobile image search functionality upgrade and their launch of Promoted Video ads—showcases Pinterest’s renewed interest in drawing attention to the platform.  But, what’s even more interesting is the “more search than social” evolution they’ve pivoted to.

It’s no secret that Pinterest has remained hyper-focused on separating themselves from other social networks. (We’ve known of their shift toward a more search-oriented experience for some time.) But the platform’s investment in their search experience has never been so prevalent. And considering that Google alum Gunnard Johnson was recently named Head of Measurement & Insights (adding to the list of other former Google employees) Pinterest is now concentrating on perfecting search.

And they’ve clearly thought through how to brand their pivot, so as not to pigeonhole themselves. Their use of the word “discovery” instead of “search” is clever because it highlights the user at the center—seeking out and suddenly happening upon—both sought out and contextually relevant results. And their use of self descriptors, like “catalog of ideas” and “database of taste” sets them apart from both social platforms and search platforms. They seem content on resting somewhere in the middle for now.

But Pinterest’s desire to stay in the gray can be confusing for brands simply trying to navigate, and succeed, on the platform.So, what exactly puts Pinterst in the gray areas between search and social?

1. Self-Discovery & Personalization – Via “personalized recommendations that feel qualitatively different from other services,” Pinterest is able to help users uncover their own tastes, one pin at a time. For example, recommended pins are able to consider all facets of your style (not just one specific pin) to help determine what you’ll want/need next. This makes Pinterest a different user experience than other platforms, but also shows how data-rich it is from an advertising perspective.

2. Actionable Nature Pinterest has created the ability for “passive searching” to suddenly become active. In a nutshell, the platform is able to seamlessly move a user from casually perusing a fashion influencer’s boards, to finding a look they love, to drilling down to the specific blazer they want to buy, to buying it. In fact, 70% of users who find pins take some sort of action. This is the driving force behind Pinterest’s MPS (Motivating Potential Score) – it’s higher than any other social network, because users who see something go and do. That’s powerful.

3. Long Shelf Life – Like traditional search, but unlike social networks, Pin content is relevant much longer than a tweet or post. The content itself is hosted in a repository that was made for this very reason—to be able to keep things around that you don’t want to forget. This has given way to what I’m calling the “Two-Four Rule,” because 25% of all pinning on Pinterest happens 2-4 months before an event or holiday. Usually people in social are searching for immediate or near-term gratification and the same is true with traditional search. But Pinterest seems to lack the expected expiration date because they have cracked the “intent” code, capitalizing on signals early in the consumer journey.

4. Category-Based Search – In conjunction with its planning nature, the search terms we actually type in via Pinterest are very different from those we use on Google. We search more broadly on Pinterest, using categories as cues – things like “DIY”, “Wedding”, “Home Décor”. This allows us to discover new things and be inspired. On Google, our search gets very specific – “red chair mid century mod” which helps us to narrow down our choices, but Pinterest is about just the opposite: broadening our horizons.

5. Co-Screening – When we think about co-screening (watching some form of TV while on our mobile devices), we think of the usual suspects: Twitter, Facebook, and Snapchat. But new research shows that 45% of Pinterest users are likely to hang out on Pinterest while they’re watching TV. But there’s more: 47% of the time what users see on TV sparks activity on Pinterest. And 64% of Pinterest users say they pay more attention to what they’re doing on Pinterest than what they’re watching on TV and 44% of them will engage with Pinterest for the show’s entirety, regardless of whether it’s on a commercial break or not. This not only says something about the types of pins we create, but also about how people are consuming Pinterest content differently than other platforms.

6. Open API & Image Search – Last year Pinterest announced its open API, allowing brands to provide personalized, curated experiences for users, but few partners have taken advantage of this functionality. The most recent and robust use was Burberry’s recent campaign, which allowed users to answer a few questions to inform the creation of a custom board based on their responses. Another underutilized functionality is its image search capability, rivaling Google’s with the ability for users to upload photos and receive similar pins in response. Via buyable pins, the technology is then there to enable users to actually purchase the pair of shoes they snapped on the T (for instance). Imagine a world where you could upload a picture of what’s inside your fridge and then receive an output of recipes which include only the items you already have?

So what does all of this mean for brands? First, bring your search team into the conversation. If people can’t find your content, or your content can’t find people, you’re not taking advantage of what the platform is capable of. Second, content needs to follow all levels of intent, from “just browsing” to “ready to buy.” Don’t hyper-focus on one end of the consumer journey. And lastly, don’t over-think the community angle of the Platform. Yes, friends are sharing and sub-communities are connecting. But, unlike platforms like Twitter and Facebook (where sharing is a key KPI of success) focus on moving people from awareness to consideration as the sweet spot. If they are pinning, you are winning.

Things Will Never Be The Same: The Growing Necessity of Paid Social

Standard

The Growing Necessity of Paid Social As social lovers and marketers, we all knew there would come a time when our favorite social platforms would find themselves answering to their investors. That’s just the way it is.

And now, unfortunately, things will never be the same.

(At least where organic vs. paid social is concerned.)

Last week Twitter announced its intention to filter user’s Twitter Feeds. In effect, choosing the content that does and does not get seen by each user. There are two schools of thought around this:

  1. The average Twitter user feels quite overwhelmed by the amount of content that appears in his feed, which inevitably leads him to be less active. Lower active user counts, then, disheartens investors.
  2. The Twitter connoisseur enjoys her ability to follow who she wants and always see the most recent content in her feed. She loves that as long as she follows her local news station, for instance, she’ll see any/all breaking news stories in her area.

But if Twitter does decide to create its own algorithm (much like Facebook’s EdgeRank), no content is guaranteed to make your feed, especially if you haven’t interacted with a tweet from a particular user in a while.

Twitter is doing two things here. It’s addressing the information-overload complaint from average users while also forcing brands to amp up their efforts by using their paid options. Promoting your tweets will eventually be the only way to make 100% sure that your followers see your content, not to mention reaching your potential followers.

After a change similar to this on Facebook, AgoraPulse and Mark Schaefer found that more than 70% of all companies across 104 industries had a decline in organic reach of 30% or more. And while the question on whether the brands are to blame for their decline in reach is still valid, the hard truth is that Facebook’s algorithm change has led to a very steep decline in organic reach and engagement rates across the board. And this same trend will likely rear its ugly head on Twitter as well.

The answer: dollars.

Innovation and relevancy have always been the pathway to success on social. But the almighty algorithm is driving the need for brands to invest in not only great content, but also in sponsored and paid social advertising – especially, if they want to see their social programs succeed.

Conversion Rates for Paid vs. Organic Social Network Advertising by emarketerThe good news in all this is that paid social ads actually have proven to achieve higher conversion rates than organic content (via emarketer 2014 Q1 study). Especially on Twitter, where ads were more than twice as likely as organic tweets to convert users.

So now, the questions will not be, should I spend money on social ads? Rather how much, when, and why?