Social media has accelerated the introduction of new products and brands. Success (or failure) can happen at the speed of light. And Pinterest is a great example of this acceleration: it has now become the third most popular social media network behind Facebook and Twitter. Having surpassed LinkedIn and Google+ in traffic volume, Pinterest is also driving more referral traffic to websites than YouTube, Google+, and LinkedIn combined.
But what's driving the interest behind the hottest website, as CNN describes it? They say that Facebook knows who you'd like to be and Google knows who you really are. If that's the case, Pinterest is definitely taking advantage of leveraging those two worlds.
Pinterest: Between the Ideal You and the Real You
Facebook can be a great way to keep your friends up to speed to what you're up to. By sharing (most of the time, trivial) updates, Facebook has become an on-the-go network, where people feel free to share what they're doing, what they want to do, where they've gone, how successful or smart or (fill in the blank) they are. Facebook has become a "cry for attention." Even the most insignificant person can have her 15 minutes of fame thanks to this self-centric social networking tool. Facebook has become a synonym of social bragging, showing to our world of "friends" our curated version of ourselves: "the ideal me."
Google (the search engine) on the other hand, plays the role of a utility. It's about finding the right solution or answer to a specific need. Activities on Google are interest-centric (professional, personal, entertainment, etc.) and information-driven. Based on all the searches we perform on Google, we can say that Google knows the real version of ourselves: "the real me."
Pinterest is an effective marriage of utility and social bragging. Interest-based visual content is curated, allowing consumers to search for recipes, decoration ideas, images for inspiration, and discover original products or cool designs. It also facilitates sharing the "ideal me" by providing smart quotes or cool pictures to brag about. The boards are a great source for sharing your latest "achievement," and the competition for who gets the most repins or likes has that sense of "social bragging" à la Facebook.
Let's see what's happening with online Latinos who are twice as likely to have a Pinterest account, according to comScore.
Latinos Are Pinning
Latinos are fast adopters, rather than early adopters, when it comes to social media. They weren't the first to adopt Facebook. But when Latinos discovered Facebook, their adoption rate tripled in one year, reaching penetration levels higher than those of the general population. And Pinterest is no different: penetration among Latinos grew twice as fast as the general market (8,506 percent) in the past 12 months.
Although women make up the majority of users (64.4 percent), male users are growing too. Actually, there's a higher incidence of men among Latino Pinterest users (35.6 percent) compared to the non-Hispanic whites (25 percent).
Almost half of Latinos on Pinterest (48.3 percent) are 25 to 55 years old and/or have children (53.3 percent).
In terms of engagement, Latinos tend to spend more time and be more active on social networks. When it comes to Pinterest, so far, the behavior seems to be similar to that of the general population when it comes to time spent pinning and number of pages viewed.
But once again, when Latinos started using Facebook, their pattern was also average. Once that social media network started to explode among this demographic, engagement levels went way above that of other ethnicities.
My guess is that the same will happen with Pinterest. Marketers need to understand how this fast-growing network provides an opportunity that lies between social bragging and utility.
Pinterest: The Latino Opportunity
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Gustavo Razzetti is EVP, Managing Director of Lapiz, the Latino shop of Leo Burnett. He has 20+ years of experience in integrated marketing communications in U.S. and Latin American markets.
A change agent, with the expertise of transforming agencies into digital at the core shops, Razzetti has become one of the leading voices when it comes to understanding the new market dynamics of US Latinos.
Former Chief Strategy & Engagement Officer at Grupo Gallegos, president of GlobalHue NY and CEO of Euro RSCG Latino. Razzetti's career is marked by extensive experience working with top consumer brands such as Comcast, Walgreens, Verizon, NestlÃ©, Chivas Regal, General Motors, Coca-Cola, and BBVA, and 200 others. He also served as CEO of Euro RSCG both in Puerto Rico and in Argentina. Prior to that, Gustavo was CEO and founding partner of WhyNet - the no. 1 interactive agency in Argentina.
Strategist by conviction, digital pioneer by choice, leader by evolution; Razzetti has received recognitions that include Effie awards, Gran Prix AMBA, Euro RSCG's CBI Award, and Strategic Planning Director of the Year, McCann Erickson. Many of the campaigns he strategically led won Cannes, Clio, New York Festival, London, and FIAP awards, among others.
On a personal note, Gustavo loves scuba diving, bicycling, gourmet cooking, and fine wines.
March 19, 2014