Pinterest’s Web Analytics is a new set of tools that will help brands analyze the effectiveness of their content and social engagement. Cat Lee, Pinterest product manager said, “The goal is really to help websites understand what content is resonating with people on Pinterest.”
Businesses and marketers have been trying to figure out how to approach the fast-growing social network to achieve the best results. This new tool will help them determine what content strategy works best.
A large percentage of marketers are trying to understand and implement personalized content marketing and they are still trying to figure out how to do this in the most cost-effective way possible for their organizations. Based on a the latest quarterly data from Adobe/eConsultancy’s Quarterly Intelligence Briefing, 68 percent of marketers acknowledge that behavioral data has a strong tie to ROI and only 20 percent actually utilize the behavioral data towards their content marketing. Only twenty one percent of marketing organizations use purchase history to assist in their marketing even though 77 percent say it has a high impact on ROI.
Data from RichRelevance an e-commerce consultant shows that on average Pinterest shoppers spend approximately $170.00 during each browsing session, which is substantially more than Facebook’s $95.00 and Twitter’s $70.00. This confirms the interconnection between on-site content offerings and user spending levels.
Pinterest’s layout and structure supports the ability for consumers to buy and retailers to sell. Reuters confirmed this in a recent article by quoting chief executive of a Santa Monica based company that analyzes Pinterest usage habits, Kyla Brenna. According to Reuters, she said, “It’s a huge window-shopping platform…it helps people find what they really like. Does it encourage people to be a little impulsive? Of course.”
Pinterest’s dominant success in encouraging user’s to buy is due to the user’s brand likeability and action-ability. Brands need to provide consumers with a reason to buy their product and then make it easy for consumers to buy it. For brands, this is a great platform to accomplish both.
To confirm this, we’ll discuss another Reuter’s article, which quotes the perspective of an average Pinterest user. Becca Bijoch from Minneapolis, who is a young female in her mid-twenties, well-educated, with disposable income, said, “I’m probably spending more now. I’m on the couch at night, after having two glasses of wine… I tell everyone that Pinterest has changed my life.”
In addition to knowing that the platform is followed by users who enjoy the ease being enticed of shopping, the Web Analytics program is going to be a great tool for retailers and other types of businesses.