Pinterest’s users have now reached the 265 million mark, which is 15 million more adopters than it had last September. Although it still ranks behind its competitors (Facebook, Instagram and Twitter), this is an impressive growth for the platform signalling marketers that Pinterest might have an unexploited potential.
The striking increase in users might be down to the platform’s rapid global growth. Moreover, brands seem increasingly more present on the platform, taking advantage of its benefits to effectively promote their products.
What Is Pinterest?
Launched in 2010, the platform started as a web social media enabling users to collect and share their favourite images, known as ‘pins’ on their virtual pinboards. Since then, Pinterest has grown organically, rapidly attracting slew of businesses in search of more exposure and potential new customers.
The famous social network not only allows businesses to create their own accounts but also to showcase their products to different target audiences. Individual users use the platform slightly differently, usually looking to find inspiration ideas ranging from clothing and travel to interior design and artworks. They can then create their own curated albums using ‘pins’ of their choosing, adding a personal touch if they wish to.
To keep up with the growth, Pinterest has added new features such as Pinterest Lens, Group boards, organizing tools and a secondary feed, demonstrating its desire to expand.
(Source: www.socialmediatoday.com )
This year, it has been reported that 80% of new adopters come from countries outside the US, thereby contrasting previous findings. These new users are on average 14 to 49 years old, indicating that the platform appeals largely to millennial and generation Z individuals.
How Has The Platform Become Successful So Far?
It has been pointed out that Pinterest has successfully relied on word-of-mouth to increase its presence. The platform also regularly organizes events and workshops to create a sense of community with their users.
In addition, the social media has been translated into more than 27 languages, which contributed hugely to its global growth. Another factor to its success is its ability to stimulate users’ creativity by allowing them to curate visually striking content.
The Integration Of New Features That Facilitate And Enhance Shopping Experiences
Described as a "catalogue of ideas" by its founders Sciarra, Sharp and Silbermann, Pinterest is slowly becoming a more integrated platform offering more options to users. Since 90% of visitors use the social network to make purchasing decisions, up-to-date pricing options and stock information for ‘pinned’ products have been incorporated within the platform to make shopping easier. The new features reflect an ambitious vision of becoming a global marketplace where users can quickly purchase featured products. They also suggested similar items with the brand-new ‘shop the look’ pin. The platform has also added new promoted videos enabling advertisers to promote their products and redirect users onto their webpage in just a click.
Will Pinterest’s growth and improvements make the platform significantly more attractive to marketers and businesses? Only time will tell but we can be certain that more companies will use the platform to find new customers and promote their products in a more ‘shoppable’ way. We can also assure you that Pinterest will keep on releasing new features to appeal to an increasingly younger generation.
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