Pinning Interest on Pinterest for Marketing
In a perfect world, a brand’s marketing campaign on social media operates at full capacity, with representation on all leading platforms. But should only one or two social sites represent a brand – and Pinterest is not one of them – now may be the time to establish presence on this platform. This image-centric social media site is poised to increase its already impressive impact in marketing.
When we hear the word “unicorn,” the first image which comes to mind is the mythical horse-like creature with a horn on its forehead. But another definition of “unicorn” is a “start-up company valued at more than a billion dollars, typically in the software or technology sector.” The New York Times recently described Pinterest as “the unicorn that doesn’t act like one.” In short, how much Pinterest is worth – monetarily speaking – may come as a surprise to some. And brands and businesses may not fully realize the potential of marketing on Pinterest.
What sets Pinterest apart from other sites?
The New York Times article noted the contrast between the more aggressively disruptive social media sites and the comparative slow-and-steady “quaint innocence” of Pinterest. There is an interesting correlation in how the different platforms reflect the personalities of the people behind them. Whereas Facebook leader Mark Zuckerberg, for example, has a very extroverted personality mixed with bravado (which has gotten him into hot water on a few occasions), Ben Silbermann, co-founder and chief executive of Pinterest is an unassuming, humble man who “de-emphasized [Pinterest’s] social media elements.”
Shopping mall? Mood board? Or both?
So, in addition to Pinterest being the “unicorn that doesn’t act like one,” its overall essence can be described as the “social media site that doesn’t act like one.” This then may be a “hiding in plain sight” secret to its marketing power. The New York Times article elaborates:
The business case was simple and powerful: It was a shopping mall disguised as a mood board that held its users’ aspirations, unearthing pure and unfiltered commercial desire. “You can draw a direct line from those interests to a commercial opportunity or retail category,” said Andrew Lipsman, an analyst at eMarketer.
Pushing the potential of Pinterest
Earlier this month, Pinterest opened its application program interface (API) to third-party influencer marketing platforms. The reason for this? To persuade – and accommodate – more brands to pay for marketing campaigns on the platform. According to Digiday, Pinterest is regarded as “the most important digital distribution channel for some influencers.” There are 250 million worldwide monthly users on this platform, which translates to a considerable number of potential customers. Additionally, the number of pins applied by active users increased 75 percent since last year.
Is change a good thing?
This rise in the power of this specialized platform also raises one important question: Will Pinterest – which derives much of its appeal from being low-key and unobtrusive – risk losing that “quaint innocence” and become as aggressively “out there” as other sites? It is too soon to answer but considering the caution and care with which Mr. Silbermann operates Pinterest, it seems unlikely that should any shift in the platform’s ambience or charm would (hopefully) be minimal.
It may be said that Pinterest embodies both definitions of the word “unicorn.” Yes, it is a start-up company worth over a billion dollars. Metaphorically, it is similar to the horse-like creature with the single horn in that both the social media site and the mythic creature are each “one of a kind.”
Ultimately, the recent upgrades to Pinterest prove the overall power of advertising on social media.
Looking to streamline or refresh your brand’s social media presence? Contact EGC today.