The overlooked purchase power of Pinterest

Impero question why Pinterest is so underused by brands and urge marketers to incorporate the platform into their strategies.

While all the other social media platforms are involved in scandals and spats Pinterest has been quietly getting on with making itself thoughtful, relevant, engaging, and a major player in the social media arena when it comes to consumer purchasing-making decisions. Yet it remains an underrated tool. Marketers take heed, and work this platform into your strategy.

Outstanding growth

There’s no two ways about it, Pinterest is riding high right now.

After an initial public offering in April 2019 that raised around $1.5bn and lifted stock by around 60%, the network bagged over 300m active monthly users – double that of Twitter – making it a low-key front runner for the fastest growing social platform.

While it might not have the user base of other platforms, Pinterest has a unique and important offering when it comes to user mindset. 90% of weekly ‘Pinners’ use the platform to make purchase decisions – that’s higher than any other platform. Couple that with evolving visual search and e-commerce tools and there’s a lot to like.

So, where are the brands at?

The truth is, most brands are either neglecting or undervaluing Pinterest. Maybe because they think the user pool is too narrow. Or maybe they’re too busy chasing Gen Z (spoiler alert! They’re not on Pinterest).

Either way, if brands want to hedge their bets with a social media platform – or visual discovery tool – that’s likely to stay in favour with the masses long after the rest of the contenders have faded or matured, Pinterest is where it’s at.

Here’s why…

Taking a stand on fake news and misinformation

Like most social networks, Pinterest is built on an algorithm.

The code that underpins its algorithm isn’t dissimilar to that of Facebook, YouTube, Instagram or TikTok – yet Pinterest’s algorithm remains one of the least scrutinised. That’s not a coincidence: behind the scenes, Pinterest has been making a concerted effort to avoid the troubles that have plagued other social networks.

Read more: https://www.thedrum.com/opinion/2019/11/18/the-overlooked-purchase-power-pinterest