Whitespace: Should your business pin its hopes on Pinterest?

Issue 83: March 2012

With nearly 12 million users the online pin-board Pinterest is one of the fastest growing websites in history. Not bad for a three-year-old site you need an invitation to join, and one that's more popular with mums than IT enthusiasts.

The short history of social media tells us that where people go, brands follow. But is Pinterest, with its focus on hobbies and interests, a good social media fit for every organisation?

This month's Whitespace looks at the phenomenon that is Pinterest to help you understand why the site isn't "social media as usual" and identify opportunities for marketers with a knack for visual storytelling.

Defining Pinterest

One way of conceptualising Pinterest is to think of the site as a scrapbook with picture based links to ideas the user wants to remember and share. There are no status updates. No party photos. It's different from other social media due to a focus on interests and hobbies.

The reason why so many people are talking about Pinterest is that it's addictive to both collect and read. Clicking on one pinned interest will take you on a journey to a related pinned interest that you can re-pin back onto your growing profile.

While there are plenty of content curation tools around Pinterest is rapidly collecting users because of what it lacks: an abundance of text. The site offers a simple visual library based around a user's 'pin boards' or grouped interest areas.

The business case for Pinterest

At the moment companies can't pay to advertise on Pinterest. Brands can however establish an 'invitation only' presence and pin content that links through to an e-commerce site, a means of turning social media 'likes' to purchases.

But there's more to Pinterest than e-commerce site referrals alone. The site offers a means of developing a deep emotional connection with users, 80 per cent of whom are women, by offering engaging content experiences.

Companies from home wear stores to airlines are doing this well by sharing the passions of audiences through engaging content experiences rather than using Pinterest to spruik their products. This smart Kotex campaign offers an example of how to leverage interest in Pinterest.

Not social media as usual

Unlike other social media Pinterest does not revolve around 'real time' updates. Instead it's about saving and sharing memories so they are easily accessible for long periods of time. Good news for brands wishing to build long-term relationships.
And rather than mimicking other social media interfaces Pinterest puts web content into sticky-note sized blocks that users can organise onto pin boards, an approach some commentators believe will ultimately change the focus of web design from text-based to visual links.

Others are describing Pinterest as a future powerhouse for e-commerce referrals. A number of retailers claim their Pinterest sites are delivering more referrals than Twitter, quite an achievement given the widespread use of microblogging.

Showing your Pinterest

Is Pinterest right for every brand? If your offering can be tied to an audience's passion, the answer may well be yes. At the very least, looking at the Pinterest boards of clients or consumers is an inexpensive form of inspiration and market research.

When developing Pinterest content, the trick is not to bombard pinners with information about your company, but to converse, albeit in a visual sense. It also helps to encourage others to pin on your board and to re-pin from others.

The other key is to think visually. The old adage that a picture tells a thousand words rings true with good photography helping to propel pinned content into the hearts and minds of the early adopters of social media's next big thing.

Top pinners

Whole Foods – a focus on healthy recipes has made these boards a favourite with pinners

Jeni's Splendid Ice Cream – ice cream imagery that promises to make you blush

Sony Electronics – everything from quirky nostalgia to high-tech objects of desire

Tourism Australia – showcasing Australia's many faces and destination

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The Australian Institute of Management's Whitespace discusses emerging business trends, and represents a 'space to think of the future'. Register now to have this monthly feature emailed to you.