TBG's Guide for Brands preparing to use Pinterest

PINTEREST ADS
Getting 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 2info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875

 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 platforms
 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

 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

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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info@tbgdigital.com UK: +44 (0) 20 7428 6650 US: +1 917 933 7875

 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

 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

 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
USING PINTEREST EFFECTIVELY

 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

 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

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

 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
that twice as many repins
CASE STUDY: HELLMANN’S

 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.

 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’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

 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

 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

 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

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

 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

 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

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

 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

TBG's Guide for Brands preparing to use Pinterest

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TBG's Guide for Brands preparing to use Pinterest