Pinterest is one of the newest social media sensations on the web. It skyrocketed into popularity during the fall of 2011 and has been steadily growing at an amazing rate ever since. In fact, it has a 0% attrition rate – this means that either no users are stopping their use of the site, or that enough users are increasing their patterns of use that it makes up for the users who drop off. Businesses can benefit greatly by joining Pinterest due to its success as a social network.
Pinterest for Business
Just six months ago, you would be hard-pressed to find a business on Pinterest. Now, many major brands and some small businesses have decided to create a presence on the blossoming network. The initial lack of businesses on the site may be due to the fact that there are not separate accounts designated specifically for businesses. While, at first, this may make some businesses wary of joining the social media site, this can actually help businesses. This layout means that business pages are just like personal pages, personifying the business and making it easier for consumers to connect with. This leads to increased customer interaction, which often results in increased customer satisfaction.
The Target Audience
Pinterest works best for businesses when they know the main audience of the site. Over 90% of Pinterest users are women, most of them are between the ages of 25-44, and the majority of them have household incomes of between $45,000 and $75,000 a year. Pinterest is more overwhelming female than any other popular social network, though more males are joining as the site becomes more popular. Pinterest also appeals to a higher average age group than most other social networks – Pinterest appeals to adults who are starting or already have careers and families, while most other social networks appeal to teens and those in their early twenties. Due to their stable careers and lives, Pinterest users tend to have a higher household income and more disposable income.
Due to their higher income levels, Pinterest users have an increased buying power over the users of most other social networks. In fact, Pinterest users are 75% more likely to purchase something they have seen on a social media site than Facebook users. If your business sells goods or provides services, this is good news for you. By advertising your business for free by using Pinterest to interact with your customers and potential clients, you could greatly increase your sales. Pair this with the fact that items pinned on Pinterest are more likely to go viral than items posted on any other social network and you have a recipe for success.
The Next Frontier
Pinterest is the next frontier of social media and it could prove to be highly beneficial to your business to be a part of it. Getting started is easy, quick, and free, and it can have a myriad of rewards. Pinterest users have high levels of engagement, including with businesses, and the extra cash to spend on goods on services. Once more businesses know about these amazing statistics, you can be sure that they will be taking advantage of all the site has to offer.