TBG's Guide for Brands preparing to use Pinterest

PINTEREST ADSGetting ready for promoted pins

The social media landscape is changing—emerging platforms are maturing

It’s no longer a straight choice between Facebook and Twitter

It’s important for brands to prepare for the launch of new social ad platforms or they may be left behind

WHY?

PINTEREST

© 2014 TBG | Pg 2 [email protected] UK: +44 (0) 20 7428 6650 US: +1 917 933 7875

mailto:[email protected]

It’s a social scrapbook used to collect, group and discover things

It’s built around objects not people

Users don’t vaguely like or follow brands, they specifically Pin items they like or want to buy

This makes ads on Pinterest more natural than other social networks as they don’t need to be shoehorned into the platform

PINTEREST IS DIFFERENT

PINTEREST



Predominately female (around 80%)

US, UK and Australia-based

Pinterest only has 70m users, buy they are high earning decision makers (women make the budgetary decisions in most households) in primary markets

To put this into context, 20% of US females that use the internet are Pinterest users

USERS

PINTEREST


http://expandedramblings.com/index.php/pinterest-stats/

http://semiocast.com/en/publications/2013_07_10_Pinterest_has_70_million_users



http://expandedramblings.com/index.php/pinterest-stats/%23.U3rT_ViSxYw


According to Piqora, a Pin is worth 78 cents in sales—a 25% year on year increase

Each Pin drives two site visits and six page views

The average Pin is repinned ten times and is 100 times more viral than a Tweet

Brands with a rich Pin integration see an 82% increase in their repin to Pin ratio

PERFORMANCE

PINTEREST


http://blog.piqora.com/pinterest-roi-study/


http://blog.piqora.com/pinterest-roi-study/

1. Pinterest generates 41% of e-commerce traffic (Facebook 37%)

2. Pinterest reached 10 million users in 1/3 of the time it took Twitter

3. Pinterest generates over 400% more revenue per click than Twitter and 27% more than Facebook

4. The average order value of a Shopify Customer referred by Pinterest is $80 (It’s $40 for Facebook)

5. Over 80% of Pins are repins

SEARCH ENGINE JOURNAL REPORTS THE FOLLOWING STATS ON PINTEREST:

PINTEREST

© 2014 TBG | Pg 6

81% of U.S. women online trust Pinterest for information and advice

Pinterest Pins generate traffic for days—Facebook posts generally last for hours, for tweets it’s usually minutes

As of February 1st, 2013, 59 of the Interbrand Top 100 Brands were on Instagram, with 69 on Pinterest

Less than 1 percent of posts on Pinterest have a negative tone

Social media content shared on iPads: 48% for Pinterest, 17% for Facebook and 16% for Twitter

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[email protected] UK: +44 (0) 20 7428 6650 US: +1 917 933 7875

http://readwrite.com/2013/07/18/watch-out-facebook-why-google-and-pinterest-are-gaining-as-social-rivals

http://www.searchenginejournal.com/50-things-need-know-pinterest/83179/


Pinterest recently overtook email to become the third most popular sharing channel behind Facebook and Twitter

Pinterest is responsible for 18.76% of s-commerce revenue, just behind Twitter on 20.66% and Facebook on 28% (Only 2 years ago Facebook had 60% and Pinterest had nothing)

Pinterest has only 70m monthly active users, Twitter 230m, Facebook 1.2bn—and Facebook and Twitter already have fully developed ad platforms—Pinterest is punching well above its weight

SHARING & S-COMMERCE

PINTEREST


http://marketingland.com/propelled-by-women-pinterest-beats-out-email-in-social-sharing-for-first-time-report-70834

http://www.businessinsider.com/twitter-and-pinterest-in-social-commerce-2013-9?IR=T&


Pinterest has been testing Promoted Pins since October 2013 and has now opened up the test to more brands

These include ABC Family, Banana Republic, Expedia, Gap, Kraft, Nestle and Target

The new phase of testing will roll out the paid test to the search and category feeds

The plan is to open up the test to more businesses throughout 2014

PROMOTED PINS TESTING PHASE

PINTEREST


https://business.pinterest.com/en/news/next-phase-promoted-pins

https://business.pinterest.com/en/news/next-phase-promoted-pins


USING PINTEREST EFFECTIVELY

Pinterest encourages brands to add the Pin It button to their sites

This makes it easy for users to curate content and other users to find and share a brand’s products

Adding the Pin It button is easy and should be a priority for brands with a product-based offering

Bonnie Gross SVP, Marketing at Target says, “Pinterest has developed the best wish list in the history of database marketing”

GETTING STARTED



http://business.pinterest.com/widget-builder/

http://business.pinterest.com/widget-builder/


Rich Pins allow information like price and availability to be displayed within the Pin, so users don’t need to visit your site for basic product information

They can also be used to show recipe details, movie ratings and reviews

Rich Pins allow users to be notified when something they have Pinned drops in price

RICH PINS


© 2014 TBG | Pg 11

Rich Pins


http://business.pinterest.com/rich-pins/

http://business.pinterest.com/rich-pins/


Many brands are creating in-store displays showing customers their most popular products on Pinterest

Target has also introduced a additional online storefront called Awesome Shop displaying its top performing Pins in real-time

USING PINTEREST DATA


© 2014 TBG | Pg 12

Target’s Awesome Shop


http://marketingland.com/the-awesome-shop-targets-pinterest-powered-online-shopping-site-lists-only-top-pinned-items-68051


PROMOTING CONTENT ON PINTEREST

Pinterest is following the Instagram approach of vetting advertisers and pushing the idea that its ads will be beautiful creations that users will want to keep

To retain a premium feel, it’s beneficial to limit access and set fees at a level that will only draw interest from big brands

Promoted Pins are identical to normal Pins, with the addition of a ‘Promoted Pins’ label for transparency

ADVERTISING ON PINTEREST




Non–Promoted Pins are only shown to a brand’s followers, limiting exposure

Promoted Pins can be shown to all users, in search results or targeted to categories, greatly expanding the potential audience

Ads are in-stream on both desktop and mobile (75% of Pinterest users log-in with the mobile app)

Ads displayed in search results will be sold on a CPC basis, other placements will be CPM (full details)

PROMOTED PINS



http://blogs.wsj.com/cmo/2014/03/24/nearly-everybody-in-digital-advertising-is-calling-pinterest-for-a-job/

http://digiday.com/platforms/heres-pinterest-pitching-agencies-ads/


The pre-rollout test of Promoted Pins was carried out by brands including Disney, Nordstrom, the Four Seasons hotel chain, TRESemmé and Hellmann’s mayonnaise

During testing, Four Seasons had success with a Promoted Pin advertising a $70,000 high-end package to Bora Bora

It generated over 9,000 repins and more than 500 brochure requests

This indicates that Pinterest, much like Instagram, is a platform where luxury brands can prosper

INITIAL TESTING




If something is exclusive it will generate repins because users want to show others that they appreciate it, even if they aren’t going to buy it

The product spreads virally because of its own desirability, unlike content marketing where the product is marketed in association with other interesting information

This would work very well for high-fashion products such as watches, handbags and shoes

PREMIUM PRODUCTS




Hellmann’s has been testing Promoted Pins for its mayonnaise

The test compares recipe images that include a packshot of the mayonnaise jar with identical images that do not include the jar

If this was a true A/B test, we could conclude that Pinterest users prefer images that don’t look like ads, with the packshot-free images gaining more than twice as many repins

CASE STUDY: HELLMANN’S



http://www.pinterest.com/hellmanns/on-the-grill/


TRESemmé has tested Promoted Pins of its products, going against the idea that Promoted Pins need to be beautiful or arty

They didn’t even include any sales, just the name of the product

This ad sparked a conversation, with users discussing the suitability of the product for different hair types and its effectiveness

For TRESemmé, this 69-comment discussion is unique to this Promoted Pin, as their similar product Pins have just one or two comments

CASE STUDY: TRESEMMÉ




Although Pinterest has not given details on its promoted search testing, we can speculate on the product based on its new Guided Search feature

Pinterest calls Guided Search “a new way to find what you’re looking for”

The idea is to help users find specific things more easily, or explore popular things that relate to their initial search—basically sub-categorising topics

PROMOTED SEARCH


© 2014 TBG | Pg 20

Watch the introductory video here.


http://www.youtube.com/watch?v=qyYVI0ySDvk


http://www.youtube.com/watch?v=qyYVI0ySDvk

Searching for ‘pancakes’ shows us a swipeable set of buttons along the top of the screen highlighting more detailed searches, such as ‘Recipe’, ‘Healthy’ and ‘Buttermilk’

Click on one of these and your search becomes more specific

Sometimes there are further options so ‘Pancakes’ leads to ‘Recipes’, then ‘Healthy’

GUIDED SEARCH EXPLAINNED




Apart from helping its users search, Guided Search lends itself well to advertising

Pinterest has Promoted Pins, but search is a less obtrusive way to advertise on the platform and target users when they are in discovery mode

Guided Search will add advertising real estate without saturating the platform with Promoted Pins

MONETISING GUIDED SEARCH




A search for Running Shoes sees Nike as the first option and Adidas in 14th position, requiring five scrolls across the width of the app before a user sees it

Pinterest could sell Adidas the No.1 spot on a keyword basis; for example ‘running shoes’, ‘Adidas’, ‘running’, ‘training’, ‘fitness’ and so on

There’s also scope for brands to put their products into Guided Search results where their products are relevant but do not show up through natural search

HOW PROMOTED SEARCH COULD WORK




As with all social campaigns, measurement and optimisation is the key to understanding the success of your activity

Building a following on Pinterest is just as pointless as chasing likes on Facebook if you are not working towards your business goals

Pinterest has a built-in analytics tool allowing brands to track clicks, repins, impressions and reach

We can assume that we’ll be able to optimise Promoted Pins using the same metrics

MEASUREMENT OF PROMOTED PINS




PINTEREST ANALYTICS

Pinterest’s analytics platform also helps brands to measure the performance of Pinning from their websites

Users can view the number of Pins, repins, impressions, inbound traffic to external sites and the other things people have Pinned who have Pinned their products

It’s also possible to see which of your products are most popular, a useful feature that can govern product placement online and in store

BUILT-IN ANALYTICS

ANALYTICS


http://www.socialmediaexaminer.com/pinterest-analytics/




Pinterest has been working with marketing technology developers to develop new ways to track Pinterest activity that go beyond the standard Pinterest Analytics

The platform has allowed Hootsuite, Spredfast, Salesforce (no details yet), Percolate, Piqora, Curalate and Tailwind to work with its Business Insights API

Which means they can access the stream of public Pinterest data to help businesses analyse their own Pinterest activity and compare with industry benchmark performance

THE BUSINESS INSIGHTS API

ANALYTICS


https://business.pinterest.com/en/news/more-ways-get-pinterest-insights-your-business

http://www.exacttarget.com/blog/pinterest-insights/


These tools are not designed to replace Pinterest’s free built-in analytics

They are a way for businesses already using popular platforms like Spreadfast or Hootsuite to manage their Pinterest activity on the same platform

They also allow those platforms to offer additional features not available through Pinterest’s standard analytics, such as conversion tracking

WHY USE OTHER TRACKING TOOLS?

ANALYTICS



Hootsuite's beta will offer select Enterprise customers the ability to:Track follower growth for individual boards and aggregate totals for multiple boards; compare follower growth for multiple boards and compare to industry benchmarks; as well as measure likes, repins and comments for the top ten posts in a given date range.

Hootsuite Enterprise customers can contact their Hootsuite Account Manager to enquire about access to the beta

HOOTSUITE

ANALYTICS


http://blog.hootsuite.com/insights-for-pinterest-marketers/


Access to the API has allowed Spredfast to: “Provide brands with previously unavailable insights about their performance. Customers can now identify the most frequently pinned content on their official website, garnering valuable information to develop and amplify content that resonates most with Pinners.”

The Spredfast Social Inbox allows users to monitor repins and compare the virality of content on Pinterest and their own website

Users can also tag and categorise pins by campaign for easy management and analysis

SPREDFAST

ANALYTICS


http://www.spredfast.com/blog/2014/05/20/spredfast-offers-brands-access-pinterest-business-insights-api/


Percolate’s Pinterest integration includes:

Interactive graph cards allowing users to visualise interactions, audiences and more

Custom data charts for reporting

Automated recommendations to improve performance

Detailed analysis of your top performing pins

PERCOLATE

ANALYTICS


http://learn.percolate.com/pinterest-insights-api-analytics/


Piqora states that the Pinterest API gives its users access to over 50 reports and metrics and integrates with Google Analytics, Omniture and Coremetrics to track the top performing pins by clicks and revenue

Piqora has also built a custom product called Pinterest Trends, which allows marketers to: “Gather deep industry and category-level insights that benchmark a brand’s performance on Pinterest against the performance of their competitors. Our Pinterest Trends dashboard allows a marketer to create groups of brands across verticals to benchmark virality, community growth, engagement and more.”

PIQORA

ANALYTICS


http://blog.piqora.com/piqora-announces-participation-in-pinterests-business-insights-api-launches-pinterest-trends/


Curalate is a visual analytics platform, and it is the only platform of its kind included in the Pinterest Business Insights API initiative

Its image recognition software takes tracking product performance a step further by analysing and reporting on images of your products that the general public shares, as well as your own posts

Integration with the Pinterest API brings improved demographic data, pinner insights and deep insights into Pinterest’s unique viral mechanics that aim to show why pins go viral

CURALATE

ANALYTICS


http://curalate.tumblr.com/post/86427711525/insight-into-pinterests-new-business-api


Tailwind is solely focussed on Pinterest analytics. Access to the API has brought the following enhancements:

View trending Pins in a given time frame

More flexible notifications

A weekly summary dashboard

A comprehensive domain monitoring capability that helps “businesses see which of their images are trending across Pinterest, how users are discussing their brand and which pins are driving their reach.”

TAILWIND

ANALYTICS


http://blog.tailwindapp.com/pinterest-api-business-insights/


THE VERDICT

Pinterest’s paid offering has been eagerly anticipated by advertisers

Its unique product-based setup, its ability to generate high-engagement, shares, inbound traffic and sales—all prior to launching its paid services—gives it huge potential for e-commerce

We recommend that brands set up and test Pinterest as soon as possible to prepare for the full launch of paid services

To discuss how your brand can leverage Pinterest, get in touch with TBG.

CONCLUSION

THE VERDICT


http://tbgdigital.com/contact/


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TBG's Guide for Brands preparing to use Pinterest