It is very difficult for small to medium-sized businesses to compete in the hypercompetitive environment of advertising on the Internet, television, or even with traditional print advertising, and the problem is not getting any better. Fortunately, there are a number of different platforms that are slowly becoming competitive, running up against the big players that have massive budgets – this is in reference to social media. In most cases, when people are searching for products online, they tend to look at Facebook advertising, yet those that are younger are turning more to platforms like Twitter for the same information.
The Explosive Growth Of Pinterest
Pinterest is slowly becoming one of the most exciting platforms for advertising. It has become extremely popular with both old and young people, with individuals under the age of 25 becoming a larger demographic in Q2 2020, as well as 80% of moms in America using this platform as well – primarily because of the graphic nature of this platform (which encompasses nearly 1/4 trillion Pins that have been posted by users in the last 11 years) is offering an opportunity to everyone – specifically those in the e-commerce field that are selling different products and services.
Exceptional ROI From Pinterest Ads
On average, Pinterest users will spend twice the time on this platform than on any other on the web, which is why it is no wonder that it has gained a significant amount of traction when it comes to advertising online. For the most part, the cost effective nature of Pinterest has made this advertising platform very competitive against the big players – they actually cost less and you can make more money by advertising with Pinterest ads. Some researchers showed that 70% of the people that see the pins are more likely to convert when compared to other social media platforms.
If you have ever thought about using Pinterest as a platform for advertising, these statistics should motivate you to give it a try. First of all, other social media sites have certainly reached a maturity point, far outpacing their growth, yet Pinterest has shown exceptional growth despite having fewer users. Social media sites that are prominent today are much older – in fact, in 2020, there were over 300 million active users on Pinterest every month. Today, that has eclipsed 450 million users which is more than Snapchat and Twitter combined.
Companies that export products are seeing Pinterest as a very good advertising vehicle. 50% of the users are not in the United States.
The Challenge Presented By Pinterest
There is somewhat of a different challenge if you decide to advertise on Pinterest when you compare this to other social media platforms. The conversion cycles tend to be much longer than when you advertise on other social media sites. This can be attributed to the fact that, in the beginning, all of these platforms had to go through a conditioning or learning experience on the part of the users – and there was also the refinements of advertising campaigns, and ways to measure the outcomes of those campaigns, which posed unique challenges.
You Can Get Expert Help
There are many tools that Pinterest has unleashed on the market, designed to make it easier for users to take part in their system – yet it is still more advantageous to work with an expert that knows exactly what to do. The measurement capabilities have evolved rapidly on Pinterest, clearly showing that it is now becoming an advertising platform. Traditionally, it was only used for building your brand, but now it has become a viable option for those that are directing people to a sales funnel.
This rapid evolution has made it difficult for first-time users to fully utilize the capabilities of this platform, and that is why leveraging outside help is beneficial. In fact, pins4profit.com has made a point of providing this type of assistance, such as from Lindsay Shearer who provide their advice for those that would like to get more out of their marketing budget. This expert can also help companies do better when considering ad spend amounts.
Shearer has actually stated that as the algorithm for Pinterest continues to change, you will need to do a little bit of planning to get the most out of this advertising platform. He points out that, due to the longer time that it takes to convert potential customers, this can be very challenging for fledgling businesses. There are examples, such as purchasing beachwear, which have been provided. With traditional companies, the demographic is much easier to determine, whereas Pinterest buyers may not be necessarily looking for an item to purchase right away. It is because of this delayed attribution that it may not make this platform, at least initially, as cost-effective.
Why Pinterest Is Different
This platform is very different, particularly when looking at the Cost Per Million Impressions which is different from traditional CPM advertising, yet you can still attract consumers that are going to purchase your products, yet save money when compared to Google advertising. Pinterest is well over two times cheaper than social media ads on other platforms, especially when looking at Facebook.
98% of those that are on Pinterest have explored services or products that they have seen on Pinterest, and this continues to motivate people that want to advertise, especially when marketing DIY products, cooking products, and many others. Around 66% of all the users on Pinterest are looking for products and services that they want to acquire. Smaller businesses, on the other hand, represent a large portion of those advertising simply because big name brands have not yet advertised, plus the potential for market penetration is simply better when you have a more well-known brand name.
To leverage what Pinterest has to offer, and supercharger sales, this lower cost of advertising can provide many benefits, yet you still need to utilize expert advice, such as that from pins4profit.com and Lindsay Shearer. Failing to follow this course of action may actually be detrimental for your business, and will certainly not lead you to rapid growth on the Pinterest platform – a platform where buying decisions are being made more with each passing day.