Pinterest holds great marketing promise ÛÓ 21% of U.S. online adults visit it at least monthly, 81% of the site's users are women, the median useråÊage is 35, and 84% have madeåÊan online purchase in the past three months ÛÓ but it's not a valuable socialåÊMarketing channel today, according to Forrester.
Despite Pinterest having nearly as many users as Twitter and more than Instagram and Google+, today's marketers find little value from its branded boards. Only 56% of top brands have created these boards, and those have failed to post regularly, struggle to collect followers, are unsure of what to post, and see limited engagement.
But marketers shouldn't push Pinterest aside just yet. The rich data consumers contribute to Pinterest creates huge opportunity for effective ad targeting, although the social site currently shares only a fraction of its customer insights.
"Those users spend freely online, theyÛªre willing to engage with brands in social media, and when they talk about products on Pinterest they drive vast amounts of traffic to brand sites," Vice President and Principal Analyst Nate Elliott writes in his blog post. "Pinterest users donÛªt only share historical affinities; they share the kind of purchase intent data thatÛªs more commonly seen on search engines like Google. And just as ads targeted with GoogleÛªs data generate outstanding direct response, so will ads targeted with PinterestÛªs data."
If Pinterest taps into the full customer insights it holds, Forrester contends it will one day drive more sales than Facebook or Twitter,åÊand, by 2016, its ad offering could trump that of other social networks.
"PinterestÛªs marketing value lies more in the future than in the present," Elliott writes. "WeÛªre encouraging marketers to put limited resources into Pinterest right now. Once the site broadens its targeting capabilities, though, itÛªll be time to spend."
Marketers can make better use of their Pinterest boards by knowing more about Pinterest users and what Pinners plan to purchase. AudienceSCAN reports that 23% of adults are using Pinterest in the U.S. 31% are divorced and never remarried. And 25% have children younger than 5. 29% of Pinners live in rural areas and/or small towns.
Pinterest users are 121% more likely than average consumers to buy from product parties or directly from a distributor (like Pampered Chef, Thirty-One Gifts, Mary Kay or Advocare). Here is a fantastic opportunity for direct sellers to make boards work for their marketing dollars. Plus, 68% of Pinners prefer to shop locally.
They're planning to buy new beds/mattresses, and are 82% more likely than average to purchase new window coverings. No surprise here, but well worth mentioning ÛÒ 36% will buy craft/sewing supplies in the next 12 months, and this crowd is 123% more likely than average to do it. And fashion accessories are in the bag for 36.5% of Pinterest users.
AudienceSCAN data is available as part of a subscription to AdMall for Agencies. Media companies can access AudienceSCAN data through the Audience Intelligence Reports inåÊAdMall.