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How Fashion Brands Can Use Pinterest - The 2015 Guide

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The ultimate guide to pinterest for fashion and beauty brands. how retailers can write a pinterest strategy for content, community and sales. The best guide to Pinterest in 2015.

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How Fashion Brands Can Use Pinterest - The 2015 Guide

  1. 1. FOR RETAIL, PINTEREST IS POWERFUL First we tweeted, then we tumbled; now we pin our interests and desires into digital collections. When it comes to fashion, there is no social technology based on imagery that brands do not utilize to delight their audiences. In recent years, Pinterest, alongside Facebook, Twitter and Instagram, has become a staple in a retail brand's social media and e-commerce strategies. Pinterest continues its rapid growth and maturation. In its current state, Pinterest is a platform retail brands should be exploring. Instagram Photos from @ F N P L A T F O R M , @ W W D M A G I C @ M A G I C M A R K E T W E E K presented by
  2. 2. PINTEREST BY THE NUMBERS Pinterest is growing up and positioning itself as a major player in search, social and e-commerce. In four short years, Pinterest has grown to 70+ million users (one third of which are male)(1). Pinterest is a powerful force in fashion. In fact: ONE: Fashion is the third most popular category. It accounts (2) for 45% of the activity (search, favorites and pins) on Pinterest. TWO: There are 30 billion pins in the system across 750 million boards, 4.5 billion are fashion related, it's a number that grows (3) by 25% every quarter. 75% of traffic comes from mobile. Of those pins. THREE: Users spend (4) an average of 15.8 minutes on the site, compared to the 15 second average that 55% of the global population spends on most sites (5). FOUR: The average order value (6) per session for a Pinterest user is $199.16, far outstripping Facebook's $92.27 and Twitter's $58.02. Pinterest users are 10% more likely to purchase than others that come to e-commerce sites from social networks. FIVE: Pinterest accounted (7) for 23% of global
  3. 3. ↪ Simply put, Pinterest members use the platform to make visually-motivated purchasing decisions. ↪ Once users land on Pinterest, they stay there looking for inspiration on what to buy. This is actually the second reason users say they use the site
  4. 4. HOW TO CREATE + ESTABLISH YOUR STRATEGY Before opening a Pinterest account for your brand, you should: 1. Define your goals. 2. Align your goals to your social media strategy. 3. Align your goals to your SEO and sales goals. 4. Organize assets (images, gifs, videos). 5. Construct a platform-specific plan. Due to the visual and mobile natural of the platform, a brand's Pinterest strategy is a specific part of their overall social media strategy that connects to many other areas of its marketing. presented by
  5. 5. HOW TO BUILD PINTEREST BOARDS After goals are established, the first component to success on Pinterest is BOARD STRATEGY. Brands need to consider reasons people pin things before they launch their initial boards and then continue to build them out. THINK ABOUT IT: When a pinner adds something to one of their boards, it is grouped into things like activities, projects, interests and inspiration. This will have an immediate impact on your pin board strategy since organization is key. Once your brand has decided on a board structure, it is time to get creative. Pinterest's platform offers the chance to extend your reach through promotions, collaborations and calls to action. You will even want to include pins from other uses that do not depict your products, as this helps with reach and engagement. presented by
  6. 6. ↪ The best way to think about Pinterest pins are as inbound links (to you product or e-commerce site) and outbound links (to Pinterest in the interest of gaining more followers and telling your brand's story). ↪ When you post a pin that does not link directly to your product the goal is to convert repins and favorites into new followers; and to tell the brand story, of course.
  7. 7. HOW TO LEVERAGE ORGANIC PLATFORM GROWTH Because Pinterest is still in its development phase and their paid placements have not become the central business model, brands and marketers are not facing "pay for play" yet. Joan Bradford, Pinterest's head of partnerships, reminds (9) brands: "There's intent in a pin. It says, I'm organizing this into a place in my life." So if a brand has developed an excellent board strategy, the ability to develop followers organically is still a brand's best recipe for success. It is how they leverage the intent that will drive growth that can eventually lead to the sales many are currently seeing. For example, Michael Kors (152,360 followers across 14 boards) posts travel boards while Tory Burch (139,971 followers across 34 boards) posts boards dedicated (10) to moms. Kate Spade (223,000) focuses on color and a vibrant living. These are must follows. Kate Spade on Pinterest presented by
  8. 8. COMMUNITY COLLABORATION WITH GROUP BOARDS As brands and marketers, we are becoming familiar with the shifts in consumer behavior related to the sharing economy. We are also beginning to understand more than ever that community collaboration and giving customers value are critical to the future success of any company. These things trickle over into Pinterest in the form of group board collaborations based on certain interests. Group boards and guest pinners offer additional ways to create engagement, increase follower base and repins. Group boards are created by inviting selected pinners to pin to the board. Inviting pinners to collaborate with your brand leads to them repinning and exposing your content to their followers while giving them a feeling of content ownership. It will also elevate them to the role of brand ambassadors (11). Apartment Therapy on Pinterest presented by
  9. 9. PROMOTIONS AND PINTEREST CONTESTS Brands have always leveraged contests as a way to boost awareness, drive follower acquisition and boost engagement on any social network. Pinterest is no exception. The most popular contest on Pinterest is the "Pin to Win" approach. A pin to win can involve entrants repinning an image from your website or social channel. A common approach is to post an image on a social platform that can be repinned to Pinterest. This route may require a third-party administrator, such as Woobox. Another approach is to ask pinners to pin a certain theme and tag your account. Pinterest recently published guidelines for brands (12) running contests on the site. Important takeaways include: not running contests where a pin counts as an entry, make the contest easy and the rules clear and don't overdo it. presented by
  10. 10. PINTEREST AUDIENCES ARE VALUABLE The value of social media influencers across all channels, and particularly Pinterest, cannot be overstated. According to TapInfluence, "Influencers have some distinct advantages that brands do not, including large communities of followers, trust from consumers, authentic personal experience, and expertise on a variety of social networks." The definition of influence and who brands consider influencers is rapidly shifting. Pinterest has many influential pinners that a brand can leverage in their marketing efforts. Relying on an influencer to speak for your brand is like a trusted friend recommending your brand, an incredibly valuable asset when you consider that 70% of consumers trust recommendations (13) from friends. Services like Piqora have made the task of finding influencers easy and intuitive. Piqora offers clients a dashboard that lists top users across categories. They can also show you who repins your content most, making the conversion (14) from fan and influencer into brand ambassador seamless. Both RewardStyle and Hello Society offer influencer programs through Pinterest, but it's important to note Pinterest's 2012 ban on affiliate links and review its current terms of service (15). Apartment Therapy on Pinterest presented by
  11. 11. ESTABLISH PINTEREST'S MARKETING VALUE Pinterest is still growing and developing beneficial tools for brands. Pinterest launched an analytics platform in August of 2014. Metrics like top pins (repins and favorites) will help you understand what content is connecting with your audience. Analytics also illustrate which boards are most effective and those that could use some retooling. The system provides audience insight as well, with demographic and activity data. Outside of Pinterest's business analytics, both Curalate and TailWind offer products to help retail brands optimize their Pinterest strategy via image data. Promoted pins are still in beta testing that rolled out in May of 2014. Advertisers who take advantage of promoted pins will be charged on a cost per click basis without having to lay out a minimum bid ahead of time. Criteria such as keyword, gender, language and location can be used to target the pins. Pinterest has not released a firm timeline on a full rollout of promoted pins, but brands and businesses can apply now to be included in the beta test. Benefit Cosmetics on Pinterest presented by
  12. 12. WHAT THE FUTURE OF PINTEREST LOOKS LIKE FOR RETAIL Pinterest is a rich platform with an engaged user base that is growing daily. Brands that are not taking advantage of this image-driven format to drive traffic and sales while the site continues to grow and expand tools for business users will be playing catch up. With dynamic images, discovery and leveraging the intent in a follower, brands may have an unprecedented opportunity to connect with consumers early on in the product purchase journey and convert them to sale. How do visually driven dollars and revenue sound to you?
  13. 13. RESOURCES 1. GigaOm: https://gigaom.com/2014/11/12/pinterest-says-it-has-doubled-its-male-user-base-yet-men-are-still-just-one-third-of-new-signups/ 2. Business To Community: http://www.business2community.com/infographics/30-reasons-market-business-pinterest-2014-infographic-076372 3. BusinessInsider: http://www.businessinsider.com/pinterest-grand-plan-discovery-problem-2014-1 4. BusinessInsider: http://www.businessinsider.com/twitter-and-pinterest-in-social-commerce-2013-9#ixzz3J3dzzb48 5. Business2 Community: http://www.business2community.com/infographics/30-reasons-market-business-pinterest-2014-infographic-076372 6. Time:http://time.com/12933/what-you-think-you-know-about-the-web-is-wrong/ 7. RichRelevance: http://www.richrelevance.com/insights/shopping-insights-social-shopping-112013/ 8. Business2 Community:http://www.business2community.com/infographics/30-reasons-market-business-pinterest-2014-infographic-0763727 9. Forbes: http://www.forbes.com/sites/jeffbercovici/2014/10/15/inside-pinterest-the-coming-ad-colossus-that-could-dwarf-twitter-and-facebook/ 10. UMetric: http://blog.unmetric.com/2013/10/time-for-a-content-makeover-3-lessons-from-top-fashion-brands-on-pinterest 11. Jeff Bullas: http://www.jeffbullas.com/2013/03/04/how-to-use-pinterests-group-boards-to-get-more-exposure-for-your-business/ 12. Pinterest: https://business.pinterest.com/en/brand-guidelines 13. Mashable:http://mashable.com/2013/03/21/70-percent-brand-recommendations-friends/ 14. Piquora:http://blog.piqora.com/pinterest-marketing-how-to-engage-influencers-just-like-target-does/ 15. Pinterest:https://business.pinterest.com/en/promoted-pins

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