Why People Spend More on Pinterest Than Any Other Social Media Platform?

Why People Spend More on Pinterest Than Any Other Social Media Platform?

Only two years after it made its debut, Pinterest was deemed to be the third most popular social media platform in the US, directly behind giants like Facebook and Twitter. This was an incredible achievement for someone for a platform that was relatively unknown. Since then, Pinterest had gone onto becoming a marketing powerhouse with a horde of new features such as Rich Pins, profile pages, Promoted Pins and enhanced search. Nowadays, the popular sharing, social and discovery tool has become a social staple for brands and consumers alike. However, this platform is not just a network for spreading information but is one that’s aimed towards action. People flock to Pinterest in order to find ideas for wearing, cooking, building, decorating, creating and most importantly, for a business, buying. It is the top resource for shoppers who are looking for that perfect gift or product, which means it is vital for your brand to be there. However, lots of businesses still don’t consider Pinterest important enough as Facebook, Twitter and now Instagram. This is a huge mistake on their part. There are some really good reasons why people spend more on Pinterest than any other social media platform. Listed below are some statistics that can show why: Pinterest has more than 200 million monthly active users There is no denying it; Pinterest is growing. In September 2015, the platform had about 100 million monthly active users. One year later, the website had 150 million monthly active users and another year later, it surpassed 200 million. If you have been wondering why people are spending so much on Pinterest, these figures alone would answer your question. With such a substantial user base like that, there is a good chance that every brand has a willing and ready community on Pinterest. People usually visit Pinterest for getting inspired or solving a problem and a business needs to be there for at least one of these things. 84% people use Pinterest across a number of devices If you think about your own social media use, you will instantly realize that mobile dominates. The same patterns apply to the users; statistics indicate that 84% of users access Pinterest across multiple devices and at least 75% of them primarily use Pinterest on their smartphone. People don’t use Pinterest on their mobile for passing the time, but for doing some dedicated research. Nearly 67% of the users consult Pinterest on their mobile when they are shopping in brick-and-mortar stores. They do so for checking reviews, prices and ideas based on what is being shared. There has been a 120% increase in male users in the last year A number of marketers don’t consider Pinterest important because they continue to believe that the social media platform is only just for women. While initially, this may have been the case, the number of male users has grown rather rapidly just like the platform itself. As a matter of fact, men are the fastest growing demographic for Pinterest and 40% of the new signups are males. One reason for this is the introduction of Guided Search, a more targeted search feature introduced in 2015. Thus, results can now be customized according to gender. 87% of Pinners buy a product due to Pinterest If there is one thing that every business wants to do, it increases their sales thereby increasing their profits. Therefore, this statistic about Pinterest can be of the utmost importance for a business. 87% of users of the platform decide to invest in a product because they have seen it on Pinterest and that’s not all. 93% of them also use the information they find on Pinterest to plan for a future purchase. These are significant numbers and excellent reasons why a brand has to have a presence on Pinterest. Even if you don’t have a huge user base right now, you should be aware that Pinterest users are 47% more likely to be introduced to new businesses as compared to users of other social media platforms. Promoted Pins are Pinterest’s version of ads and are a great way to showcase a product or brand. 5% of all referral traffic on websites is due to Pinterest It is well-known that Pinterest can drive a lot of traffic towards websites. At first glance, 5% may not seem impressive enough to warrant your presence on the social platform, but if you think about how much web traffic is incurred in a day and the level of competition, this figure can be massive. As a matter of fact, Pinterest is the third highest source of social media traffic, after Facebook and Instagram. Active users have a 9% higher average income than non-users There are a number of reasons why Pinterest users are valuable for a business. One of the most enticing reasons is their income bracket. On average, the average income of a Pinterest user is higher than that of a non-user. This makes them a highly sought-after group because they have a greater disposable income and can spend more. With Pinterest, a business can reach them for a much lower cost as opposed to other advertising and promotion methods available. More than 100 million Pinterest users are outside the US Nearly half of Pinterest users and 75% of new signups are based outside the US. This means that the content you share on Pinterest reaches a global audience. This opens your business up to targeted customers and you can expand and grow your business without spending huge sums of money. However, you should remember to respective cultural norms of other countries as well when posting on Pinterest because you don’t want to offend any customers. Hence, these are some powerful reasons for spending more on Pinterest, which continues to grow, rather than other social media platforms.