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

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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.

Get Pinterested: 5 Reasons to Use Pinterest Business Accounts

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Image courtesy of http://www.marriedtothesea.com/

If you’re as into social media as I am, you too may have been excited about the latest news from Pinterest – verified business accounts have arrived! Pinterest has also announced that new tools will soon be available to businesses to set their accounts apart from personal pages. We still aren’t sure what these tools might be, but they’re likely to include some back-end analytics, and maybe even a means to conduct a Pinterest contest without relying on a third party.

If you’ve been skeptical about using Pinterest for your business, now is the time to take it into consideration – especially if your target audience is women who enjoy curating information. As with any new platform, it’s important to make sure that Pinterest fits into your social strategy before diving in head first. However, if you need an incentive to start your decision-making process, here are 5 reasons we think you should ‘get Pinterested’:

5 Reasons to use Pinterest for business

  1. Drive traffic to your website or blog – In multiple studies, Pinterest has been shown to direct more traffic than Yahoo organic search, Bing, Twitter, and Google+ combined. And, according to Real Simple, Pinterest refers more visitors to its site than Facebook!
  2. Another avenue to engage with your audience – One of the best ways to measure engagement with your content (no matter the channel) is to look at the amount of time users spend with it. According to ComScore, Pinterest users spend an average of 15.8 minutes on the site per visit, which is more than the average time spent on Facebook and Twitter combined.
  3. Expand your reach – With each new pin to one of your boards, you gain another opportunity to reach someone new. Especially so if a user “repins” your post. It’s very similar to the Twitter model, because the potential reach of each piece of content is exponential.
  4. Drive purchases – Are you a retailer? Pinterest is a great way to drive actual sales. A study by Shopify shows that Pinterest users not only buy the products they pin, but they also spend more on average than Facebook users. In fact, shoppers referred by Pinterest are 10% more likely to make a purchase than visitors who arrive from other social networks!
  5. Use it for market research – Search a topic of interest to your brand or consumers of your brand. What are people pinning related to that topic? Use the Popular Pinterest Board to find out what new and unique things are trending each day.
How do you use Pinterest for business?