Pins. Boards. Repins. Attachments to your toolbar. To the uninitiated, and to those less tech or trend savvy than others, these words might sound like we’re setting up some sort of kitchen installation. But to the Laidlaw Group, LLC, to avid members of new social media platform Pinterest, and to cunning marketers, these four words make eyes light up and brains start buzzing. That’s because Pinterest, the Little Social Network That Could, burst onto the Web and rocketed its way to the top of everyone’s conversation. It blew past Foursquare, Tumblr, Google+ and even YouTube to become the number 3 social network on the planet, surpassed only by Twitter and Facebook. And that’s not even the most extraordinary part of the story — it did it all in only 12 months.
Pinterest was founded by Ben Silbermann, Paul Sciarra and Evan Sharp. The development began at the very end of 2009 and into the next year, with the site launching in a limited, invitation-only beta form in March of 2010. From there, it was a runaway train to success. In December 2010 they had 100,000 users, and the founders were still operating out of a small apartment. A mobile app was created in March 2011, receiving shocking amounts of downloads. By December 2011, the website was receiving 11 million visits a week. In January of 2012, it was reported that Pinterest was driving more referrals to retailers and businesses than YouTube, Google+ and LinkedIn. Numerous awards followed, and by the end of that same month, Pinterest was declared the fastest website in the history of the internet to accumulate 10 million users.
That was eight months ago. Now, the two year old website is worth at least $1 billion. And it’s still growing. The primary demographics of Pinterest are the subject of most… interest. The site users skew heavily female. The breakdown is 80% female, 20% male. Half of the user base, male and female, are parents. Here are the age demographics.
And thanks to this infographic by Buzz Referrals, some very enticing information has been made available:
1) Pinterest referrals spend 70% more money than visitors from non-social channels. This means people who reach retailer websites through Pinterest are willing to spend much more cash on their products than anyone else. This includes social media — Pinterest users are 10% likelier to shop than Facebook and Twitter users, and will spend 10% more, too.
2) Tutorials, DIY (do-it-yourself) and recipe pins receive 42% more clicks than other pins. This means companies focused on food, health, arts and crafts and fashion can benefit greatly from using Pinterest.
3) On average, Pinterest users are on site for one hour and 17 minutes. In a world full of advertising noise, where customers are extremely wary of ads and exasperated with salespeople and pitches, it’s getting more and more difficult to brand your products without customers quickly ignoring or leaving the area. Pinterest is a unique, almost miraculous exception to the rule. It’s literally a website where the people who always spend the most money (women and mothers aged 18-34) spend hours of their precious time making lists of products they wish to have or places they want to visit. Then they share these lists and interests with everyone around them.
We at Laidlaw Group, LLC, like many others, realize the unique marketing potential of a platform like this. That’s why we encourage the use of Pinterest with incoming clients. It’s all part of our ongoing, strategic efforts to maximize the exposure our customers receive and ensure that their businesses are always part of ongoing conversations, wherever the conversation is taking place. Social networking is here to stay. Facebook, Twitter, YouTube and the other trend-setting websites are not going anywhere, and the user count for each service grows every single day. It won’t be long before everyone who can type is on a social network. Pinterest is just the latest, possibly even greatest, to enter the arena.
Check out the latest ABC NEWS Segment on Pinterest!