2012 was the year of Pinterest. Many are wondering if the social media platform will stand the test of time or turn into another Foursquare. One thing is certain. Businesses have already jumped on board.
I came across some interesting facts from the CEO and founder ofPinLeague on this PR Newswire story:
- Less than 1 percent negative sentiment on the platform
- Contributing 20 percent of social commerce
- The half-life of a pin is one week or more, compared to 80 minutes for a Facebook post and five to 25 minutes for a tweet.
- It’s not about conversation. It’s about quality content. The ratio of “repins” to comments is 175 to one.
- The average order value on Twitter is $69, Facebook $80 and Pinterest $179.PinLeague estimates that 90 percent of the top 1,500 brands will have Pinterest accounts within 12 months.
Wow! Those are strong figures. With that said, it is important for businesses to be aware of the proper use of Pinterest. I already get ridiculously annoyed when I see pins from companies’ boards that shout, “Buy our awesome product!” No, thanks. I want tips, recipes, health information, photos, ideas, hilarious sayings and products presented to me in a fun, useful manner. Then I will buy your product.
A great example of a Pinterest account that I think is well-managed is Southern Living. One look through their boards, and I was following almost all of them. Then I thought, “Why do I not get this magazine in the mail?” I immediately went to the website to sign up for a subscription. Cha-ching! Southern Living, you just made money from your Pinterest account.
Consumers on Pinterest are doers! Not to copy The University of Memphis’ tagline, but Pinterest is full of dreamers, thinkers and doers! If you can plan and execute your business’s Pinterest account with that in mind, it is sure to be worth the time even if you can’t quantify revenue just yet.