TBG's Guide for Brands preparing to use Pinterest

279 views

Published on

TBG's Guide to Pinterest Platform for brands preparing to run paid media and analytics

Published in: Social Media, Technology, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
279
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

TBG's Guide for Brands preparing to use Pinterest

  1. 1. PINTEREST ADS Getting ready for promoted pins
  2. 2.  The social media landscape is changing— emerging platforms are maturing  It’s no longer a straight choice between Facebook and Twitter  It’s important for brands to prepare for the launch of new social ad platforms or they may be left behind WHY? PINTEREST © 2014 TBG | Pg 2info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  3. 3.  It’s a social scrapbook used to collect, group and discover things  It’s built around objects not people  Users don’t vaguely like or follow brands, they specifically Pin items they like or want to buy  This makes ads on Pinterest more natural than other platforms  As they don’t need to be shoehorned into the platform PINTEREST IS DIFFERENT PINTEREST © 2014 TBG | Pg 3info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  4. 4.  Predominately female (around 80%)  US, UK and Australia-based  Pinterest only has 70m users, buy they are high earning decision makers (women make the budgetary decisions in most households) in primary markets  To put this into context, 20% of US females that use the internet are Pinterest users USERS PINTEREST © 2014 TBG | Pg 4info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  5. 5.  According to Piqora a Pin is worth 78 cents in sales—a 25% year on year increase  Each Pin drives two site visits and six page views  The average Pin is repinned ten times and is 100 times more viral than a Tweet  Brands with a rich Pin integration see an 82% increase in their repin to Pin ratio PERFORMANCE PINTEREST © 2014 TBG | Pg 5info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  6. 6. 1. Pinterest generates 41% of e-commerce traffic (Facebook 37%) 2. Pinterest reached 10 million users in 1/3 of the time it took Twitter 3. Pinterest generates over 400% more revenue per click than Twitter and 27% more than Facebook 4. The average order value of a Shopify Customer referred by Pinterest is $80 (It’s $40 for Facebook) 5. Over 80% of Pins are repins SEARCH ENGINE JOURNAL REPORTS THE FOLLOWING STATS ON PINTEREST: PINTEREST © 2014 TBG | Pg 6 81% of U.S. women online trust Pinterest for information and advice Pinterest Pins generate traffic for days— Facebook posts generally last for hours, for tweets it’s usually minutes As of February 1st 2013, 59 of the Interbrand Top 100 Brands were on Instagram, with 69 on Pinterest Less than 1 percent of posts on Pinterest have a negative tone Social media content shared on iPads: 48% for Pinterest, 17% for Facebook, and 16% for Twitter 6. 7. 8. 9. 10. info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  7. 7.  Pinterest recently overtook email to become the third most popular sharing channel behind Facebook and Twitter  Pinterest is responsible for 18.76% of s- commerce revenue, just behind twitter on 20.66% and Facebook on 28% (Only 2 years ago Facebook had 60% and Pinterest had nothing)  Pinterest has only 70m monthly active users, Twitter 230m, Facebook 1.2bn—and Facebook and Twitter already have fully developed ad platforms— Pinterest is punching well above its weight SHARING & S-COMMERCE PINTEREST © 2014 TBG | Pg 7info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  8. 8.  Pinterest has been testing Promoted Pins since October 2013 and has now opened up the test to more brands  These include ABC Family, Banana Republic, Expedia, Gap, Kraft, Nestle and Target  The new phase of testing will roll out the paid test to the search and category feeds  The plan is to open up the test to more businesses throughout 2014 PROMOTED PINS TESTING PHASE PINTEREST © 2014 TBG | Pg 8info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  9. 9. USING PINTEREST EFFECTIVELY
  10. 10.  Pinterest encourages brands to add the Pin It button to their sites  This makes it easy for users to curate content and other users to find and share a brand’s products  Adding the Pin It button is easy and should be a priority for brands with a product-based offering  Bonnie Gross SVP, Marketing at Target says, “Pinterest has developed the best wish list in the history of database marketing” GETTING STARTED USING PINTEREST EFFECTIVELY © 2014 TBG | Pg 10info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  11. 11.  Rich Pins allow information like price and availability to be displayed within the Pin, so users don’t need to visit your site for basic product information  They can also be used to show recipe details, movie ratings and reviews  Rich Pins allow users to be notified when something they have Pinned drops in price RICH PINS USING PINTEREST EFFECTIVELY © 2014 TBG | Pg 11 Rich Pins info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  12. 12.  Many brands are creating in-store displays showing customers their most popular products on Pinterest  Target has also introduced a additional online storefront called Awesome Shop displaying its top performing Pins in real-time USING PINTEREST DATA USING PINTEREST EFFECTIVELY © 2014 TBG | Pg 12 Target’s Awesome Shop info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  13. 13. PROMOTING CONTENT ON PINTEREST
  14. 14.  Pinterest is following the Instagram approach of vetting advertisers and pushing the idea that its ads will be beautiful creations that users will want to keep  To retain a premium feel, it’s beneficial to limit access and set fees at a level that will only draw interest from big brands  Promoted Pins are identical to normal Pins, with the addition of a ‘Promoted Pins’ label for transparency ADVERTISING ON PINTEREST PROMOTING CONTENT ON PINTEREST © 2014 TBG | Pg 14info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  15. 15.  Non–Promoted Pins are only shown to a brand’s followers, limiting exposure  Promoted Pins can be shown to all users, in search results or targeted to categories, greatly expanding the potential audience  Ads are in-stream on both desktop and mobile (75% of Pinterest users log-in with the mobile app)  Ads displayed in search results will be sold on a CPC basis, other placements will be CPM (full details) PROMOTED PINS PROMOTING CONTENT ON PINTEREST © 2014 TBG | Pg 15info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  16. 16.  The pre-rollout test of Promoted Pins was carried out by brands including Disney, Nordstrom, the Four Seasons hotel chain, TRESemmé and Hellmann’s mayonnaise  During testing, Four Seasons had success with a Promoted Pin advertising a $70,000 high-end package to Bora Bora  It generated over 9,000 repins and more than 500 brochure requests  This indicates that Pinterest, much like Instagram, is a platform where luxury brands can prosper INITIAL TESTING PROMOTING CONTENT ON PINTEREST © 2014 TBG | Pg 16info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  17. 17.  If something is exclusive it will generate repins because users want to show others that they appreciate it, even if they aren’t going to buy it  The product spreads virally because of its own desirability, unlike content marketing where the product is marketed in association with other interesting information  This would work very well for high-fashion products such as watches, handbags and shoes PREMIUM PRODUCTS PROMOTING CONTENT ON PINTEREST © 2014 TBG | Pg 17info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  18. 18.  Hellmann’s has been testing Promoted Pins for its mayonnaise  The test compares recipe images that include a packshot of the mayonnaise jar with identical images that do not include the jar  If this was a true A/B test, we could conclude that Pinterest users prefer images that don’t look like ads, with the packshot-free images gaining more that twice as many repins CASE STUDY: HELLMANN’S PROMOTING CONTENT ON PINTEREST © 2014 TBG | Pg 18info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  19. 19.  TRESemmé has tested Promoted Pins of its products, going against the idea that Promoted Pins need to be beautiful or arty  They didn’t even include any sales, just the name of the product  This ad sparked a conversation, with users discussing the suitability of the product for different hair types and its effectiveness  For TRESemmé, this 69-comment discussion is unique to this Promoted Pin, as their similar product Pins have just one or two comments CASE STUDY: TRESEMMÉ PROMOTING CONTENT ON PINTEREST © 2014 TBG | Pg 19info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  20. 20.  Although Pinterest has not given details on its promoted search testing, we can speculate on the product based on its new Guided Search feature  Pinterest calls Guided Search “a new way to find what you’re looking for”  The idea is to help users find specific things more easily, or explore popular things that relate to their initial search—basically sub-categorising topics PROMOTED SEARCH PROMOTING CONTENT ON PINTEREST © 2014 TBG | Pg 20 Watch the introductory video here. info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  21. 21.  Searching for ‘pancakes’ shows us a swipeable set of buttons along the top of the screen highlighting more detailed searches, such as ‘Recipe’, ‘Healthy’ and ‘Buttermilk’  Click on one of these and your search becomes more specific  Sometimes there are further options so ‘Pancakes’ leads to ‘Recipes’, then ‘Healthy’ GUIDED SEARCH EXPLAINNED PROMOTING CONTENT ON PINTEREST © 2014 TBG | Pg 21info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  22. 22.  Apart from helping its users search, Guided Search lends itself well to advertising  Pinterest has Promoted Pins, but search is a less obtrusive way to advertise on the platform and target users when they are in discovery mode  Guided Search will add advertising real estate without saturating the platform with Promoted Pins MONETISING GUIDED SEARCH PROMOTING CONTENT ON PINTEREST © 2014 TBG | Pg 22info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  23. 23.  A search for Running Shoes sees Nike as the first option and Adidas in 14th position, requiring five scrolls across the width of the app before a user sees it  Pinterest could sell Adidas the No.1 spot on a keyword basis; for example ‘running shoes’, ‘Adidas’, ‘running’, ‘training’, ‘fitness’ and so on  There’s also scope for brands to put their products into Guided Search results where their products are relevant but do not show up through natural search HOW PROMOTED SEARCH COULD WORK PROMOTING CONTENT ON PINTEREST © 2014 TBG | Pg 23info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  24. 24.  As with all social campaigns, measurement and optimisation is the key to understanding the success of your activity  Building a following on Pinterest is just as pointless as chasing likes on Facebook if you are not working towards your business goals  Pinterest has a built-in analytics tool allowing brands to track clicks, repins, impressions and reach  We can assume that we’ll be able to optimise Promoted Pins using the same metrics MEASUREMENT OF PROMOTED PINS PROMOTING CONTENT ON PINTEREST © 2014 TBG | Pg 24info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  25. 25. PINTEREST ANALYTICS
  26. 26.  Pinterest’s analytics platform also helps brands to measure the performance of Pinning from their websites  Users can view the number of Pins, repins, impressions, inbound traffic to external sites and the other things people have Pinned who have Pinned their products  It’s also possible to see which of your products are most popular, a useful feature that can govern product placement online and in store BUILT-IN ANALYTICS ANALYTICS © 2014 TBG | Pg 26info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  27. 27.  Pinterest has been working with marketing technology developers to develop new ways to track Pinterest activity that go beyond the standard Pinterest Analytics  The platform has allowed Hootsuite, Spredfast, Salesforce (no details yet), Percolate, Piqora, Curalate and Tailwind to work with its Business Insights API  Which means they can access the stream of public Pinterest data to help businesses analyse their own Pinterest activity and compare with industry benchmark performance THE BUSINESS INSIGHTS API ANALYTICS © 2014 TBG | Pg 27info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  28. 28.  These tools are not designed to replace Pinterest’s free built-in analytics  They are a way for businesses already using popular platforms like Spreadfast or Hootsuite to manage their Pinterest activity on the same platform  They also allow those platforms to offer additional features not available through Pinterest’s standard analytics, such as conversion tracking WHY USE OTHER TRACKING TOOLS? ANALYTICS © 2014 TBG | Pg 28info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  29. 29.  Hootsuite's beta will offer select Enterprise customers the ability to: Track follower growth for individual boards and aggregate totals for multiple boards; compare follower growth for multiple boards and compare to industry benchmarks; as well as measure likes, repins and comments for the top ten posts in a given date range.  Hootsuite Enterprise customers can contact their Hootsuite Account Manager to enquire about access to the beta HOOTSUITE ANALYTICS © 2014 TBG | Pg 29info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  30. 30.  Access to the API has allowed Spredfast to: “Provide brands with previously unavailable insights about their performance. Customers can now identify the most frequently pinned content on their official website, garnering valuable information to develop and amplify content that resonates most with Pinners.”  The Spredfast Social Inbox allows users to monitor repins and compare the virality of content on Pinterest and their own website  Users can also tag and categorise pins by campaign for easy management and analysis SPREDFAST ANALYTICS © 2014 TBG | Pg 30info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  31. 31. Percolate’s Pinterest integration includes:  Interactive graph cards allowing users to visualise interactions, audiences and more  Custom data charts for reporting  Automated recommendations to improve performance  Detailed analysis of your top performing pins PERCOLATE ANALYTICS © 2014 TBG | Pg 31info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  32. 32.  Piqora states that the Pinterest API gives its users access to over 50 reports and metrics and integrates with Google Analytics, Omniture and Coremetrics to track the top performing pins by clicks and revenue  Piqora has also built a custom product called Pinterest Trends, which allows marketers to: “Gather deep industry and category-level insights that benchmark a brand’s performance on Pinterest against the performance of their competitors. Our Pinterest Trends dashboard allows a marketer to create groups of brands across verticals to benchmark virality, community growth, engagement and more.” PIQORA ANALYTICS © 2014 TBG | Pg 32info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  33. 33.  Curalate is a visual analytics platform, and it is the only platform of its kind included in the Pinterest Business Insights API initiative  Its image recognition software takes tracking product performance a step further by analysing and reporting on images of your products that the general public shares, as well as your own posts  Integration with the Pinterest API brings improved demographic data, pinner insights and deep insights into Pinterest’s unique viral mechanics that aim to show why pins go viral CURALATE ANALYTICS © 2014 TBG | Pg 33info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  34. 34. Tailwind is solely focussed on Pinterest analytics Access to the API has brought the following enhancements:  View trending Pins in a given time frame  More flexible notifications  A weekly summary dashboard  A comprehensive domain monitoring capability that helps “businesses see which of their images are trending across Pinterest, how users are discussing their brand and which pins are driving their reach.” TAILWIND ANALYTICS © 2014 TBG | Pg 34info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875
  35. 35. THE VERDICT
  36. 36.  Pinterest’s paid offering has been eagerly anticipated by advertisers  Its unique product-based setup, its ability to generate high-engagement, shares, inbound traffic and sales— all prior to launching its paid services—gives it huge potential for e-commerce  We recommend that brands set up and test Pinterest as soon as possible to prepare for the full launch of paid services  To discuss how your brand can leverage Pinterest, get in touch with TBG. CONCLUSION THE VERDICT © 2014 TBG | Pg 36info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875

×