With it’s 175 million monthly active users, Pinterest isn’t the biggest social platform out there, but it’s definitely one that can’t be ignored either. With its unique approach to presenting a wide range of images by allowing users to create boards that pertain to things like wishlists, recipes, to general interests, Pinterest creates a unique social media experience compared to the other offerings out there. However, when it comes to businesses and brands that are trying to establish a presence on Pinterest, they are presented with yet another opportunity in the form of paid advertising that claims to improve conversion rates, website traffic, and more in exchange for some of their marketing budget. So as any business owner, marketer, or social media manager would have to ask themselves, is it worth it? That’s what our team of marketing experts at Adwizar are here to figure out.
Before we determine whether advertising on Pinterest is right for you, we need to look at what the platform has going for it and how those things can make a difference for your average advertiser.
You can nail your audience targeting down to the smallest detail, but at the end of the day, if your audience doesn’t have disposable income to spend, getting that sale is going to be a more difficult unless your product is an absolute necessity. At the same time, those who have more disposable income than the average person is often more likely to buy. In the case of Pinterest’s demographic, it’s the social platform where you’ll find the highest density of adult social media users that have a yearly salary that’s over $75k per year, making up about 35% of the total population on the platform. Going even higher from there, approximately 10% of Pinterest users make over $125 per year, meaning disposable income is definitely not in short supply.
If you’re targeting a female demographic, Pinterest is more likely to be a good match for your business. About 71% of the entire user base of Pinterest is female, and you may think that’s a staggering majority, there’s more. Activity on Pinterest consists of creating, posting, and reposting pins, and out of all of the activity on Pinterest from all users, 92% of all pins comes from accounts of women. So you can say that even with the other 29% of users being male, it’s women that pretty much run Pinterest.
Pinterest was already a great place for e-commerce brands to make their presence known with a layout that is very visually focused with a search functions that basically made it a search engine for images. Then you get Pinterest advertising in the mix with things like rich pins that can pull pricing and product information straight from product pages and it feels like it was built with e-commerce in mind.
It may be the answer that everyone hates to hear when it comes to marketing questions, but the truth is that it all depends. If you have a target demographic that is predominately women, than it may be a good fit for you, and even more so if you’re an e-commerce brand.
However, it does not guarantee effectiveness since it all depends on how you execute your advertising and how seamlessly your website experience can integrate with that of Pinterest.
Pinterest does have some data to back up the effectiveness of their ads, but we’ll let you decide whether or not you want to let their data points drive your decision. According to reports, 87% of users have purchased a product due to their activity on Pinterest, and 93% of active users say that they use Pinterest to plan their future purchases. For the businesses that have brick and mortar stores, 72% of users use Pinterest to make decision about what they are going to buy offline.