Pinterest increases its value to marketers by allowing them to analyze engagement by seeing which impressions their audience is clicking, liking, and repinning the most.
Pinterest has upgraded its analytics tool to help businesses better track their engagement.
The new updates will allow users to see which specific impressions are getting the most clicks, likes, and repins, as well as which ones pinners are adding to their own boards.
Businesses will also be able to see just who these users are: their gender, their country and region, their language, and even the categories of some of the other boards they’re following. Pinterest has never released audience analytics before; it was added on at the request of some of the upgrade’s early testers. The analytics will now also be available in 31 different languages.
"It was clear that businesses wanted some demographics on an aggregate level: what their audience makeup is composed of and what are some of the things they’re into,” explains Jason Costa, product manager at Pinterest.
Because Pinterest is dependent on companies to create content, the site is eager to give them insights they can use to improve their marketing and product strategy.
Costa says several brands already have modified their strategies, based on information gleaned from pinning. He points to preppy clothier Vineyard Vines, which reintroduced a discounted belt after learning of its popularity with pinners. Caribou Coffee, too, came out with a new blend based on Pinterest feedback. And home improvement retailer Lowe's added a more do-it-yourself focus to its marketing efforts after a colorful wooden porch mat project was repinned more than 200,000 times.
"We want to look at all the different data inputs we have and make decisions based on that; otherwise, you’re just guessing," says Brad Walters, director of social media and emerging platforms at Lowe’s.
Walters, who keeps the company's 3.5 million followers engaged by constantly updating and refreshing content, adds that pinning projects is a great way for the brand to "provide inspiration to customers who have a passion for the home."
The enhanced Pinterest Analytics, which is available to anyone with a business account, is the latest addition to a set of tools that could make the site invaluable for marketers.
"A lot of people think it’s only a site about design, recipes, fitness, and girl stuff, but I think if you actually look at how it can be used as a functionality platform for how you can share content, it’s way bigger than that," says Krista Neher, chief executive of Boot Camp Digital, a Cincinnati, Ohio, company that provides social media and marketing training.
Neher points out that because Pinterest is a newer social platform, it doesn’t have the same volume of users as Facebook, Twitter, and LinkedIn. But she thinks that can work in the site's favor, noting that brands on Pinterest can be a little more targeted on less-crowded pages.
"Many businesses are still in an experimental phase with it," Neher says. "Because of that, the more information you have about how content performs on Pinterest, the better you can inform the rest of your social media strategy."
The tool is designed to be as easy as possible for brands to use, much like the Pin It and recent Follow buttons, for which Pinterest did all the coding; businesses just had to copy and paste.
Costa, who mentioned that the analytics tool also filters data by what devices people are using, says Pinterest’s entire purpose is based on three points: discovering, saving, and doing.
"We want users to discover things they find interesting, connect with those things they find meaningful, and then save that information. And then we want them to be able to do those things, whether it’s planning that wedding or going on that dream trip," he says. "We want to help customers and businesses meet in that 'do' phase."
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