Pinterest is the fastest standalone website to have reached 10 million unique visits in just one Month. One can read on an article from Reuters that the website now has 25 million active users. On the Experian’s 2012 Digital Marketer Report, the website has been ranked 3rd online social media site. Even though designed as a pinboard site, a lot of users have admitted buying all kinds of gadgets after seeing them on Pinterest. There is a huge sale opportunity for retailers and they are aware of it.
Retailers are now fighting over users on Pinterest. But that is not an easy task, Pinterest still does not offer advertising options for companies and that kind of makes if difficult to win the attention of the users. The companies will have to find other ways to make their pins flourish virally.
Pinterest is a relatively new network and while companies have learned how to interact with Facebook and Twitter users, they are still trying to formulate a strategy that will work for them on Pinterest. One of the current strategies they use is to install a “pin” button on their website and create a page on the pinboard site. Some companies are willing to go as far as hiring a social media team for which the sole focus will to be acquire followers on Pinterest.
As a byproduct of the success of the pinboard site, many ancillary businesses are growing around the huge opportunity to offer assistance to businesses that are trying to tap into the revenue potential of Pinterest.
Kyla Brennan, chief executive of HelloInsights says Pinterest is a huge window-shopping platform. HelloInsights is a company that provides analysis for Pinterest use and enable businesses to grow their pages and track their progress and influence on the platform. One should bear in mind that Pinterest does not track metrics internally.
According to experts, the amount of dollars generated per user on Pinterest is much higher compared to other social networks. And that is irrespective of Facebook being the leading driver of shopping by volume.
According to a study done by RichRelevance, Pinterest shopper spend $170 on average per session. The data was derived after tracking 700 million shopping sessions. Compared to that, shoppers on Facebook may spend up to $95 per session while those on Twitter can reach $70 in spending.
It is for all those reasons that retailers are now desperately pinning to make the most out of Pinterest. So far the biggest social media pinboard site has still not found a way to properly monetize the platform. That didn’t prevent it from raising another $200 million in financing. Investors believe in the potential the site has to offer.
What users don’t realize is that Pinterest may also be revealing their little secrets to their followers.
How Pinterest reveals user’s personal secrets
Actually the growing social media site is not designed to intentionally reveal secret but what users don’t realize is that as they pin pictures, a side of themselves that they may not necessarily want to reveal, also surfaces up. The current trend on Pinterest is, users involuntarily reveal their vacation planning, style of life, engagements, pregnancies, kids parties and other future plans by what they pin on their board.
It might not necessarily be a bad thing but sometimes you might want to keep something a secret even though you want to pin about it. Not every woman would want her followers to know she is pregnant but just by pinning maternity outfits the followers may guess right.
Last November, with the redesign of its page, Pinterest added a secret board feature. Yet it only allows users to have not more than 3 secrets boards. Just like Facebook, the site is more focus on creating interaction among users and that implies not giving them enough privacy. Nonetheless there is another advantage users can derive from opening a Pinterest account. It can be a gateway for job opportunities.
Pinterest and Jobs
We already know that one of the requirement to successfully land on a rewarding job has to do with the networking qualities of the future employee. Pinterest is also a place where networking occurs. What you pin reflects what you are.
It is not a secret that employers sometimes search into the Facebook account of their future potential employee before making any final decision. Pinterest is no different. Users can rely on it to create a career digital portfolio. Pinterest allows you to display your skills visually and that can improve the way a potential employer sees you.
Pinterest is indeed the next big thing and everybody should jump on it.
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