At gotcha! some of the most intense internal debates we have are about the growing social network Pinterest. Most of these discussions have been about the efficacy of content marketing on the platform. As Pinterest ramps up its ad platform we are faced with a new challenge. Should brands give Pinterest the time of day?
Digiday had interesting argument in favor of Pinterest advertising. Before we get to their selling points, let’s examine the biggest problem. Namely, Pinterest does not have a large user base. According to comScore, Pinterest has 57.9 million unique users. Much less than one third of Facebook’s user base. For a company looking to do large-scale campaigns this is a serious disadvantage. The second problem is the advertising on Pinterest is relatively expensive.
So what’s the upside? Unlike many other social networks, Pinterest is female centric and has a very engaged user-base. As of June 2014, according to comScore data, Pinterest is 75% female. By 2016 eMarketer projects that 41% of U.S women will be on Pinterest, and if the present is any indication, highly engaged.
And this isn’t even the best news. Digiday reports that “according to a March 2014 study conducted by AccuPOLL Precision Research for Ahalogy” 73% of Pinterest users have neutral or positive feelings about being advertised to. Considering that most users loathe the idea of ads on their favorite social media sites, this is a revolutionary find.
Finally “E-commerce software company Shopify released research this March showing that Pinterest users spend more on average than Facebook users.” So for companies looking to market to women, it looks like Pinterest will be a dream come true- engaged users who don’t mind ads and spend above average when referred to websites from Pinterest.