Pinterest – Another Social Network or the Next Facebook.
With all the social networks that are out there – Facebook, Twitter, Google+ to name the main ones. Out of seeminly no-where comes Pinterest (although I think the success of Instagram for mobile may have had an influence). This site has an impressive page-rank of seven according to Google. However, can ALL brands benefit from this social network. For example could an insurance company? Could a bank? Could a consultancy?
Are there going to be any tangible benefits? positive linkage? conversion? actionable customer insight? Is using this social network going to allow you to target your target market?
Pinterest is growing in popularity as the hottest new social network
I was watching the following YouTube last night and thought not only was it a great way to highlight the benefits of incorporating Pinterest into your social media strategy and also was one of the best infographic movies I’ve seen (congratulations to MDGAdvertising).
In December 2011, Pinterest made Hitwise’s list of the top ten social networks, sitting at #5 and beating out big names like Linkedin and Google+.
So what we talking about here? We want people to convert and we want people to talk about our products and whether this be on our core site, a microsite or off-site is really up to your strategy. However, I mentioned in a previous post the increased benefits of off-site recommendations (because it increases the ‘honesty’ factor). Pinterest does give users to “pin” and “re-pin” images of interest and comment on them.
Any business thar relies on driving a high-volume of website traffic to increase sales, should consider joining Pinterest.
Pinterest focuses on images to share interest, preferences and through this you are able find like-minded people through lifestyle choices. However, I’m struggling to see how digital departments in banking and retail would make use of this?
How do I measure referrals?
If you’re an organisation that wants to use an offsite strategy to increase the number of referrals then the approach must be the same as any other offsite links. Use campaign codes. These can then be used aggregated or seperated out via Google Analytics, Webtrends or your chosen solution.
Sadly, there doesn’t appear to be any reporting from within the interface.
If you’re expecting to benefit from conversion from having pins and re-pins well these pins provide us with a link back to source but, they are all no-follow links which mean that you won’t get credit for it. However, if you get loads of pins then you will get more traffic (perhaps not a corresponding uplift) but, certainly some.
When your managers start talking about uplift and where it comes from. Why not try giving them the funnel speak….
The funnel isn’t a champagne flute, isn’t a pint glass but somewhere between the two… martini anyone?
Integration with other Social Networks
Pinterest does allow people to link their Pinterest account to their Facebook which means that anything “pinned” will automatically show up on their wall. However, this begs the question why don’t they just use Facebook or Twitter rather than learn (and have to maintain) another social network.
Is it worth it?
I’m staying pretty open to this. The fact that social plugins like Add This aren’t showing “Pinterest” by default indicate to me that there are other networks which remain in a prime position to help build brands and convert customers. The ‘no-follow’ is annoying too. If you’re not going to get SEO benefit then I can see it being difficult to convince management that this is worth investing effort in.
Saying that …..
if you’re customer acquisition strategy is focusing more on women ….. perhaps would a look in.
if you’re product range and brand is visual e.g. clothes, architecture, photography … perhaps worth a look in.