One of the challenges many marketers have faced with Pinterest is the lack of insight into its followers’ habits. However, Pinterest’s most recent evolution has marketers perking up around the globe, as a new initiative will integrate marketing technology software to allow businesses to analyze their Pinterest activity.
How Does It Work?
The purpose of Pinterest’s new feature is to assist businesses using the platform in better engaging with pinners. Now, brands will be able to better determine:
- Which of their boards are getting the most engagement
- If pins are driving actual conversions
- What products are most popular with pinners
Additionally, Pinterest is adding enhancements to their API, which will help provide further insight. The new features aim to facilitate businesses engagement with consumers by allowing brands to see which of their pins are actually driving traffic and which are being re-pinned most often.
Does this eliminate the need for Pinterest Analytics? The simple answer is no. Although Pinterest doesn’t currently offer conversion tracking as part of their analytics, the company is committed to continuing to build value into their free tool.
At this time Pinterest is working with a select group of technology providers, including Salesforce (Exact Target Marketing Cloud), HootSuite, Spredfast, Percolate, Piqora, Curalate, and Tailwind. While some of these companies may have been providing some basic insights for businesses before, it was accomplished by utilizing scraping technologies instead of working alongside Pinterest as they will now.
What Will This Insight Mean for Marketers?
In the same way that Facebook insights help guide strategy, Pinterest campaigns will soon become much more formulaic and rely less on guesswork. Businesses will be able to better generate organic exposure after learning the habits and statistics of pinners at large.
The Wall Street Journal speculates that Pinterest is aiming to provide marketers with a means to track and measure their success now, in hopes that they will be more likely to pay for advertising once it becomes available to all businesses in the future (a small portion of companies are already testing Pinterest’s paid ads, or Promoted Pins).
When Will Pinterest Business Insights Become Available?
Pinterest didn’t provide any specific details about their roadmap for releasing business insights, but they did share the following teasers:
- If your business already utilizes one of the technologies provided by their partners, you may be seeing additional insights soon.
- If you are interested in learning more about the new program, contact the technology partners directly.
Time to Weigh In
How does Pinterest’s addition of Business Insights affect your social strategy? If you haven’t utilized Pinterest as part of your digital marketing strategy in the past, is it largely because you couldn’t gather information, or is it just not a fit for your audience?
As it prepares for a 2017 IPO that could be the largest in the social media space since Facebook went public in 2012, all eyes are on Snapchat.
What would we do without social media?
When measuring the effectiveness of discount codes, retailers often get it wrong. In this article, we'll look at how data-driven attribution can help businesses better understand where discount codes produce the best ROI.
Facebook isn't just the world's largest social network. In the past two years, it has also become one of the world's most popular online destinations for consuming video content.