Is Pinterest Marketing Worth It?
The world of digital marketing is buzzing with talk of Pinterest marketing. Many businesses are wondering if it’s worth the investment. The truth is, there’s no simple answer. It all depends on your business goals and current sales performance.
First, let’s address the fact that Pinterest currently boasts 482 million monthly active users, and it’s recognized as a discovery and planning platform. This means your potential audience reach is vast and varied, giving you an opportunity to target a wide range of demographics.
Moreover, Pinterest users are highly engaged and more likely to make purchases than users on other social media platforms. If your business focuses on e-commerce, Pinterest can be a goldmine.
Imagine engaged couples planning their dream weddings, saving ideas, products, and even wedding venues on Pinterest. This kind of audience engagement is invaluable.
However, before diving into Pinterest marketing, take a step back and evaluate your current sales performance. If your business struggles to convert leads or generate consistent sales on other platforms, it may not be the right time to invest resources into Pinterest.
As a general rule, we like to see our clients already selling an average of 50 sales per day before taking them on as clients if they are in the e-commerce space. We have a different mindset with service-based businesses as it depends on the type of business and value that each lead or client brings.
Assuming your business is already successfully driving conversions and revenue through other channels like Facebook or Instagram, then yes – Pinterest marketing can be a game-changer.
Track and analyze your Pinterest performance for guaranteed success. Like any marketing strategy, trial and error will help you find the best approach for your brand; however, data begin to be reviewed within 30-45 days.
Do Pinterest Ads Convert Well?
Now, the question at hand is whether or not Pinterest ads convert well. The answer to this question is a resounding YES – but with a caveat. As with any form of advertising, there are creative best practices that must be followed in order to achieve optimal results.
First and foremost, it is vital for businesses to understand the audience on Pinterest and tailor their ad strategy accordingly. Unlike other social platforms, Pinterest users are primarily seeking inspiration and ideas rather than direct product promotion.
Therefore, it is essential for brands to think creatively and provide value through visually appealing content that resonates with their target demographic.
Enhance your ad strategy by considering the end result. Before creating your ad, ask yourself: what problem does your product or service solve?
For example, instead of highlighting every feature that sets your mattress apart from competitors, focus on the benefit of a good night’s sleep. Remember, Pinterest functions as a search engine, so tailor your ad to the words pinners use.
To maximize conversions on Pinterest, combine compelling visuals with persuasive text. Incorporate high-quality static images and videos to create an irresistible combination.
By including strong call-to-actions (CTAs) in your ad design, you can greatly impact user behavior and encourage them to become customers. Whether it’s a simple and direct “Shop Now” or an intriguing “Learn More,” these small actions play a crucial role in prompting users to take action after viewing your ad.
How To Measure ROI On Pinterest?
Measuring ROI (Return on Investment) is a essential aspect of any marketing strategy, and Pinterest is no exception. As a click-first platform, Pinterest has its own unique approach to measuring ROI that may differ from other social media platforms. In this answer, I will provide you with a detailed guide on how to measure the ROI on Pinterest and why I believe that the commonly suggested method may not be the most accurate.
Firstly, let us understand the concept of ROI.
It measures the return or profit generated from an investment relative to its cost. In simple terms, it shows how much money you have made in comparison to how much you have spent. For brands using Pinterest as a marketing tool, understanding their ROI is essential in determining whether their efforts are paying off or if their approach needs to be changed.
Pinterest urges users to assess conversions through the utilization of their user-friendly dashboards. By default, the attribution window spans a timeframe of 30 days, incorporating the periods of 30 days for clicks, engagement, and views.
To optimize our Ad performance on Pinterest, I suggest adjusting our attribution windows to align with industry standards: 30 days for click attribution, 7 days for engagement attribution, and 1 day for view attribution. Additionally, let’s implement UTM trackers on all our Ads to accurately analyze data using Google Analytics. To easily track key metrics like ROI, Ad Spent, CPA, CPC, etc., we’ll utilize spreadsheets to monitor weekly changes in percentages. This comprehensive approach will help us make informed decisions and maximize our advertising effectiveness.
How Much Does It Cost To Run An On Pinterest?
Begin advertising on Pinterest with a minimum daily budget of $30. Although this may appear higher compared to platforms like Facebook, where you can start with a few dollars daily, remember that Pinterest offers a less competitive environment. This provides an opportunity for smaller brands and vendors to shine.
What Types Of Ad Do Best On Pinterest?
When it comes to creating successful ad campaigns on Pinterest, there is no one-size-fits-all approach. It all depends on your specific product or service and your budget. In fact, the best type of ad on Pinterest may differ from one business to another.
Promoted pins are the most basic form of advertising on Pinterest. They appear as regular Static pins in users’ feeds with a small “promoted” label underneath them and are the least expensive to run. These ads blend seamlessly into the end user’s experience and have the added benefit of being shown to a larger audience that are not your followers.
Video pins are similar to promoted pins but feature an eye-catching video instead of an image and are better for engagement. However, they are more expensive to run. They can be up to 2 minutes long and autoplay as users scroll through their feed. This type of ad campaign is great for showcasing products or services in action or telling a compelling brand story.
Our recommendation for video ads is that they should be no longer than 15 seconds and introduce the product within the first 3 seconds.
The catalog campaigns are one of our most valuable campaigns; however, we believe in a full-funnel approach.
The question of whether Pinterest marketing is worth it can only be answered by understanding your specific business goals and target audience. With its massive audience and high engagement rates, Pinterest has the potential to drive significant traffic and sales for businesses, especially those in the e-commerce sector.
However, it’s crucial to approach Pinterest marketing strategically and take the time to understand your audience and create visually appealing content that resonates with them. As with any marketing strategy, regularly reviewing and analyzing your performance is crucial to make informed decisions about where to focus your efforts.
Why not request an audit if you’re still unsure about investing in Pinterest for your business? We can assess your current Pinterest presence and provide valuable insights on whether Pinterest could be a worthwhile investment for reaching your business goals.
Don’t miss out on the opportunity to tap into this growing platform’s potential – reach out to us today!