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The Benefits of Adding Pinterest to your Digital Marketing Strategies

The Benefits of Adding Pinterest to your Digital Marketing Strategies

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    Pinterest Report Pinterest Report Document Transcript

    • Social Media Trend Assessment – PinterestMarina BarrettMKTG 7546Professor BreyApril 10, 2012
    • The Pin-BasicsPinterest is a new social media platform that has exploded over the last six months. Pinterestallows its users to share and collect pictures and videos which link back to the original sourcewhether it is a corporate website or a blog.5The mission of Pinterest “is to connect everyone inthe world through the things they find interesting…[Pinterest believes] that a favorite book, toy,or recipe can reveal a common link between two people. With millions of new pins added everyweek, Pinterest is connecting people all over the world based on shared tastes and interests.” Thewhole concept of social media and social business is to connect and build relationships with thepeople you share a common interest with; Pinterest does this with ease. According to comScore,in “January 2012 Pinterest attracted more than 11 million unique visitors, more than double the4.9 million who visited the site in November 2011. Those who visited Pinterest spent nearly 100minutes on the site in January, compared to the [average] 19 minutes on professional socialnetworking sites like LinkedIn.”8Pinterest is notably popular among the female demographics however that is not the case aroundthe world. Data compiled byVisual.lysheds light on the interesting differences between U.S. andUK Pinterest users. Using anonymized, aggregated opt-in data from various Google products(including Toolbar and Analytics), DoubleClick Ad Planner has drawn some conclusions aboutpinners on both sides of the pond. The infographic below depicts the difference among uniquevisitors, age, gender, and interest of the Pinterest users in the United States and the UnitedKingdom.While this data illustrates the differences between the users, the most important data to look at isthe audience interests. While the US seem to be interested in crafts and interior design, UK users Barrett 2
    • are interested in using Pinterest for SEO and marketing information along with analytics andcontent management. This is important because Pinterest started out as an online scrapbookingsite where users collect and share recipes, fashion and home decor ideas, however, it has nowevolved into a prime marketing tool for all types businesses.Sports Score on PinterestSince the hype of Pinterest has been centered on women, the sports industry has used this digitalscrapbooking website as a tool to reach and engage their female fans. Many professional teamsfrom the NBA, NFL, NHL, and a few colleges have joined the Pinterest bandwagon in order toshowcase content from fans, display merchandise, and create boards of photos from the past andpresent of the organization. The Celtics have the largest following on Pinterest so far with over1,500 followers. Pinterest is a great way for sport teams to engage with the female demographicand offer them a different type of content that cannot be found on Facebook, Twitter, orGoogle+. In college sports, theUniversity of Washingtonuses Pinterest to flaunt what it offers prospective student athletes. Boards called “Best 4 Years of Your Life” and “Seatown Swag” show off student culture and the university’s prime location. Assistant athletic director Carter Henderson said the school created those boards in part because they noticed that collections themed around travel destinations were already popular on the network.7 Barrett 3
    • Whole Foods Market Spices it up on PinterestWhole Foods Market was one of the first brands to join the social media platform in July 2011.The global online community manager for Whole Foods, Michael Bepko, explains, “[Pinterest]allows us to curate images from across the web that really speak to who we are as a company,images that reflect our core values and essentially communicate the essence of who we are.”While most brands can be found on Facebook and Twitter, Bepko pondered the necessity ofhaving the Whole Foods brand on Pinterest as well. He came to the conclusion that the maindifference between the Pinterest and other social networking sites is the curation of images.Pinterest is image-based, as opposed to message-based which fills a niche that has been leftempty by other platforms.Pinterest fits into the Business Model of Current Social Media TrendsPinterest is a mystery that businesses are eager to solve and determine if their presence isnecessary or needed on the site. This section looks at current social media trends that businesseshave already implemented into their social media strategies and how Pinterest can enhance thosetrends.Social CommerceSocial commerce is the social interactions and user contributions that facilitates the buying andselling of products. Businesses who use Pinterest have the capability to display their products onsocial platform other than the brand’s website. Creating different boards with different content,products, and categories allows you to connect with customers based specifically on theirinterests.11 The fact that you can add the price of an item to a pin by typing the £ symbolfollowed by the amount in the description is a sure way to increase the selling of products andleading to the direct revenue from the site.6Social Rewards ProgramsThe core of social media has been to engage and interact with consumers, and reward programshave been a key factor in that connection. Pinterest is another venue for customer interface,interaction, socialization, and connection. Contests on Pinterest can reach far beyond the typical“Pin It to Win It”. The engagement of fans and consumers can be started on Pinterest by askingtheir opinion on the next marketing strategies of the company, comment on the new officedesigns or vote on the trends they most want to see in the brand’s next collection. The winnercan be chosen based on awarding points through likes, comments and re-pins.1Collaborative ConsumptionCollaborative consumption is the rapid explosion in traditional sharing, bartering, lending,trading, renting, and swapping, redefined through technologies and peer communities. Pinterestis a peer community that has redefined the concept of sharing ideas and interests. One of the bestthings that Pinterest offers to its users is the ability to have multiple collaborators on boards.When a company allows its employees to contribute to boards it adds to the personalization andhumanization of the business and it also builds an office unity. Pinterest goes beyond featuring acompany’s product and establishes an opportunity to interpret the lifestyle of their clientele.1Whole Foods is an excellent example of this. Out of the approximately 30 boards that Whole Barrett 4
    • Foods have on their Pinterest account it is hard to find an actual Whole Foods Product. Insteadthe Whole Foods Pinterest team searches the Internet for bloggers and writers on other socialplatforms who offer an array of content that is relevant to the Whole Foods’ core pillars, thenthey pin those images to their boards. They also attract a much wider audience by offering nicheboard topics such as their “Super Hot Kitchens”board, which is entirely devoted to immaculatekitchens. This allows the users interested in topics such as home décor to follow this specificboard and avoid consuming content from all of Whole Foods boards; yet Whole Foods name isstill associated with the board and reaching that wider audience.4Share ButtonsYou see the share buttons almost everywhere now, and Pinterest is not only joining this trendthey are also redesigning it. There is the “Pin It” bookmark, “Pin It” share button, and thePinterest “Follow Button”, with the instructions on how to use and implement all of them locatedon the Pinterest website. The “Pin It” bookmark was developed by Pinterest to make pinningnew content easy. To install you drag and drop the button from the Pinterest website to yourbookmark tool bar on your browser. This allows users to pin new content from any website toone of their boards. By clicking on this bookmark button, images found on the particular pageare displayed and the user can choose their favorite photo to pin to their desired board. Whenpinning from a website, Pinterest automatically grabs the source link to credit the original creator(to be discussed further later). The instructions to add the share and follow buttons to abusiness’s personal website are also listed on Pinterest.com. These buttons allow consumers of abusiness to share their content with their followers on Pinterest, just like they can on Facebookand Twitter.10Job SearchSurprising enough, LinkedIn is no longer the only place to showcase your personal resume;Pinterest provides the ability to share with the world a visual resume of oneself. If you are agraphic designer, you can pin samples of your work. If you offer other services, such asconsulting or writing work, you can use Pinterest to share photos that inspire or that share amessage about your work. For example, financial consultants could pin photos that representclient goals, such as financial independence or financing education. Non-profit groups can sharephotos of the clients they are helping.11Managing ContentAnalytics, analytics, analytics! Integration of a social media strategy is not enough anymore,monitoring and analyzing the data from that content is now just as important. Many tools havebeen developed to analyze social media data for companies, now those developers are creatingtools that are made specifically for Pinterest. Examples include, Pinstamatic, Percolate, Pinpuff,and (my favorite) PinReach, which offers a personalized analytics dashboard. Since the pictureson Pinterest are embedded with a link directing the users back to the original source, tools likeGoogle Analytics have been able to track Pinterest for referral traffic to ones website. Want tosee what pictures from your website are being pinned with the “Pin It” bookmark? Typinghttp://pinterest.com/source/ “yourdomain.com” and replacing “yourdomain.com” with your ownwebsite URL, you will quickly see what images have been pinned directly from your site.Thisreinforces the importance of having images that are eye catching in order to prompt the userto pin it to their board. This link not only gives you a look into what pictures are being pinned Barrett 5
    • but also the ability to understand how your customer perceives your product by viewingcomments and board titles.1 Pinterest is also SEO gold, giving you a constantly renewable sourceof solid, meaningful incoming links for a company’s website.2The Future of PinterestA few years a go the hype surrounding social media was centered on the newest socialnetworking site called Twitter. What is it? What is the point? Who is using it? Should we(brands/people/products) join the revolution of Twitter? Those same questions are being askedtoday about Pinterest. To stay ahead of competition it’s important for businesses to engage in themost current trends and social media platforms. “Pinterest now drives more referral traffic thanYouTube, Google+, and LinkedIn combined, according to Shareaholic’s January 2012 ReferralTraffic Report.9 With these statistics it is obvious that Pinterest is a platform that should enticebusinesses to rearrange their current online marketing strategies. Pinterest does appeal to aspecific demographic (females) however, as it continues to grow its reach to a more divers set ofusers (i.e. men) will make Pinterest a better place for more unique companies to participate.3Kelly Carney, Associate Commissioner of Marketing and Television for Conference USA, is aPinterest user and states that the men she follows on Pinterest have “boards for cars, home,sports, and work related topics (i.e. marketing or a specific school/team)”. Carney also stated thatshe sees Pinterest moving forward by targeting the male population, hopefully without loosingtheir female demographic and their current business practice of sharing thoughts and ideas.Nicole Cartier, Director of New Media for Conference USA, believes that Pinterest creates theperfect “supply and demand” economy for virtual sharing. Overall, Cartier sees Pinterest as thebest tool for all types for products and businesses as it allows consumers to share their opinionson what they are interested and it can be shared all over the world with those interested on thesame type of product. For more information on Kelly and Nicole as well as their thoughts onPinterest please see below. In conclusion, Pinterest has started off the same way other successfulsocial media sites have, surrounded by buzz and becoming a key factor in a businesses onlinemarketing and social media strategy. Barrett 6
    • Expert Interview Biography Kelly Carney – Associate Commissioner of Marketing and Television Kelly Carney joined Conference USA in 2004 as the league re-located from Chicago to Dallas. As Associate Commissioner of Marketing and Television, Carney manages the majority of C-USAs external affairs. Her responsibilities include serving as liaison to the leagues marketing directors and executing television agreements with FOX Sports Network, CBS Sports Network and ESPN, as well as the website agreements with CBS Interactive. Carney also works directly with the FOX staff that manages Conference USAs sales and marketing rights. Prior to joining C-USA Carney worked for Host Communications. Her arrival at Host in1996 coincided with the organizations acquisition of the rights to the Big 12 Conference. Carneyserved as Director of Marketing for that property for two years, and then was promoted toGeneral Manager. After four years working with Hosts collegiate division, Carney was hired bythe events division to work with the NCAA.In that capacity, she managed the logistics and operations of the NCAA Hoop City Fan Festivalsat the mens and womens Final Four. In addition, she managed the annual SBC Red RiverShootout between Texas and Oklahoma. Before her tenure with Host was complete, she waspromoted to Vice President of Events and oversaw all of Hosts event business.In addition to her Conference USA responsibilities, Carney also serves on the NCAA FootballSpecial Promotions and Brand Marketing Committee, and has done so since February, 2005.Carney began her professional career with DelWilber and Associates - a sports marketingcompany in St. Louis, Mo. She was promoted from intern to administrative assistant after fourmonths and in the next six years held the titles of Event Coordinator and Event Director.While at DelWilber, Carney worked with Major League Baseball, the National Hockey League,major sponsors such as Seven-Up, IBM and Alka-Seltzer and the USA Baseball Olympic Tour.She also coordinated and managed collegiate events such as the 7UP Shootout and the Las VegasBowl.A native of St. Louis, Mo., Carney graduated from Marymount University in 1988. She and herhusband Drue have son A.J. (14) and a daughter Megan (11).Biographyhttp://www.conferenceusa.com/genrel/carney_kelly00.htmlWebsitehttp://www.conferenceusa.com Barrett 7
    • Interview Questions and Responses with Kelly Carney1) How do you think Pinterest has or can impact the business landscape? Based on popularity,Pinterest is a great way to promote products and more importantly, drive traffic to websites sinceonly a photo is available on the Pinterest website. If an item is popular the website traffic drivenby Pinterest users could be unbelievable. I currently see retail and the blogging sites getting aton of publicity.2) What specific industries and consumer segments may be impacted? Initially, I think femaleconsumers and female consumer segments are the target since the majority of pins have to dowith style, décor and food. I do, however, see more and more males coming on board each dayand I find it interesting to see how they categorize their boards...how they are usingPinterest. The majority of males I have started following have boards for cars, home, sports andwork related topics (i.e. marketing or a specific school/team)3) How do you think Pinterest itself will change moving forward? Not sure exactly how theywill change moving forward, but I do have opinions on what I don’t want to see. Movingforward, I think they will start to target more males, hopefully without losing their current femaledemographic. If this happens, they could sort between the two genders (Pinterest forMales/Pinterest for Females) as I would not want to search through pins targeted specifically tomales. Same goes for kids. My daughter joined and should that demo grow – I don’t want to belooking at a bunch of tween pins. Will Pinterest want to monetize the site?? How is the sitefunded? Will we start seeing advertising – or advertiser’s product being pushed on thesite? Will people have to pay to “see” everything down the road…similar to the LinkedInconcept? I think Pinterest needs to make sure the site continues to promote ideas, interests andbest practices…not people promoting themselves.4) What will Pinterest need to stay a head of competition? Grow the categories, grow theiruses…but still find a way to not junk it up – keep it simple!! Barrett 8
    • Expert Interview Biography Nicole Cartier – Director of New Media Nicole Cartier began her duties at Conference USA in August of 2010. Her main duties include producing video content for the Conference USA Digital Network with video and written content such as features, interviews, weekly shows and Championship events as well as serve as support for the live events on All-Access of all 12 of C-USAs institutions. She also serves as the Host of the C-USA Digital Network and main writer of Dont Forget the Hyphen, C-USAs official blog. Prior to joining C-USA, Cartier was the Broadcast Coordinator andAssociate Producer for the Minnesota Timberwolves & Lynx from September 2008 to August2010. Here, she regularly worked with NBA and WNBA head coaches, players and executivesconducting interviews and gaining content for feature stories and breaking news that aired onTimberwolves.com, KSTC-45 and WolvesVision, the in-arena pregame show. She also served asproducer and director of Lynx games that aired online at WNBA.com. Additionally, Cartier wasalso the main coordinator for spots and promotions on all radio and TV broadcasts.Before her arrival at the Timberwolves, Cartier began her career in sports as an intern with theLexington Horsemen Arena Football team as Media Relations assistant during the 2007 summerseason and then was promoted to Office & Ticket Manager and Game Coordinator in Novemberthat year. During her time as an intern with the Lexington Horsemen she wrote feature stories onthe team regularly helped with writing scripts for TV spots. After her promotion, Cartier took onthree roles where she handled all ticket requests, promotions and sales, she coordinated gamepromotions and produced live in-game elements, and also oversaw all office duties and the hiringof interns.A native of Abingdon, VA, Cartier followed her mother and fathers footsteps and attended theUniversity of Kentucky. She earned her BA in Journalism and French and graduated MagnaCum Laude.Biographyhttp://www.conferenceusa.com/genrel/cartier_nicole00.htmlWebsitehttp://www.conferenceusa.com Barrett 9
    • Interview Questions and Responses with Nicole Cartier1) How do you think Pinterest has or can impact the business landscape? In a sense, Pinterest is essentially the perfect sharing tool for Businesses. WhereasFacebook and twitter rule the social media world--connecting people to other people, Pinterest isdevoted specifically to commerce and sharing those tangible ideas and inspirations--be it fashion,recipes, event planning, art, technology, etc-- for other people to see and get inspired to try outthat specific "pin." This creates the perfect "supply and demand" economy by virtual sharing.2) What specific industries and consumer segments may be impacted? I feel Pinterest specifically targets the consumer industry--stores, restaurants, namebrands-- as its allowing people to share all of their opinions on a specific product all in one page.Those start-up brands can easily benefit by Pinterest because as they are just starting to get theirname brand out, one person can share it on Pinterest for others to see and share themselves.-- the"snowball" effect can then take place. A person in Maine can see a certain product on a "pin"from a complete stranger who shares the same interests in California and easily that product hasbecome popular across the country in a single second.3) How do you think Pinterest itself will change moving forward? I think its important to maintain Pinterest as a tool for sharing marketable brands andideas. This will keep it from becoming a "Facebook" where people just post their generalthoughts. Pinterest can directly impact the economy by promoting those corporate brands andstart-ups and allowing everyone to share what they like to other people who may share the sameinterests all over the world.4) What will Pinterest need to stay a head of competition? For me, its important for Pinterest to stay organized. With something like Pinterest thatencapsulates and easily promotes anything and everything, it is easy for someone to get lost inthe entirety of the whole website. From someone who has just joined Pinterest after the fact thatit has become so popular, its easy for me to become inundated with too much information onhow to create and share "pins." It is in this sense that Pinterest needs to stay easily navigable andsimple to enjoy. Barrett 10
    • References1. Biggat, H. (2012, February 27). Brand It: Four Ways to Brand Your Business via Pinterest - Part 3. Retrieved from SEO.com: http://www.seo.com/blog/brand-ways-brand-business- pinterest-part-3/2. Campbell, K. (2012, February 15). 7 Ways your Business Needs Pinterest in its Social Media Mix Now. Retrieved from Fuzzone.com: http://www.fuzzone.com/blog/904/social-media- marketing/7-reasons-your-business-needs-pinterest-in-its-social-media-mix-now/3. Churchill, N. (2012, February 14). Companys That Got it Right on Pinterest. Retrieved from Social Media Today: http://socialmediatoday.com/nina-churchill/445857/companies-got-it- right-pinterest4. Drell, L. (2012, February 23). What Marketers Can learn From WHole Foods Organic Approach to Pinterest. Retrieved from Masable.com: http://mashable.com/2012/02/23/pinterest-whole-foods/5. Jacobson, L. (2012, February 13). Pinterest...What is The Big Deal? Part 1. Retrieved from SEO.com: http://www.seo.com/blog/pinterest-big-deal-part-1/6. Johnson, A. (2012, February 9). Pinterest: 10 reasons why it will be bigger than Twitter. Retrieved from Social Media Today: http://socialmediatoday.com/adrianjohnson/442950/pinterest-10-reasons-why-it-will-be- bigger-twitter7. Laird, S. (2012, February 24). Pinsanity: How Sports Teams Are Winning on Pinterest. Retrieved from Mashable.com: http://mashable.com/2012/02/24/pinterest-sports/#5032914- A-Retro-Look8. Needleman, S. E., & Tam, P.-W. (2012, February 16). Pinterests Right of Web Passage - Huge Traffic, No Revenue. Retrieved from The Wall Street Journal: http://online.wsj.com/article/SB10001424052970204792404577225124053638952.html9. Pinterest / Social media ROI / Earned Media/ Cost of Loyal User. (2012, February 6). Retrieved from MarketingCharts.com: http://www.marketingcharts.com/direct/pinterest- social-media-roi-earned-media-cost-of-loyal-user-20980/10. Sanchez, S. (2012, February 17). How to Leverage Pinteres in Your SEM Strategy - Part 2. Retrieved from SEO.com: http://www.seo.com/blog/leverage-pinterest-sem-strategy-part-2/11. Sandorford, B. (2012, February 1). 7 Ways to Use Pinterest to Promote Your Business. Retrieved from Business 2 Community: http://www.business2community.com/pinterest/7- ways-to-use-pinterest-to-promote-your-business-0127686 Barrett 11