Power of Pinterest: How Your Business Can Leverage a Visual Search Engine?

Pinterest has become more than a site where people go for recipes and wedding ideas. It has grown into a visual search engine with tons of inspirational visuals. As such, it offers your business a unique opportunity to showcase what your products or services can do. As the statistics below can attest, there is a sizable market to be found in utilizing Pinterest for marketing, and social media users on this platform are often browsing for specific needs or wants, versus blindly scrolling. Moreover, with the integration of online chat functionality, businesses can directly engage with their audience on Pinterest, answering their queries, providing real-time assistance, and building meaningful connections.

Pinterest is Ranked 14th in terms of Global Social Network Popularity

Although giants like Facebook and YouTube consistently rank in the top three, Pinterest does not trail too far behind in its active users, landing at 14th place, just behind social platforms like Snapchat, and ahead of platforms like Twitter and Reddit. While 14th might not look like a high number initially, considering its reach and the dramatic differences in available target audiences, it is a smart platform to include in your social marketing strategy.

In 2020, Pinterest Reported Value was $38 Billion

Pinterest went public in April 2019 at an estimated $12.7 billion value. It traded at $19 per share, and it has experienced mixed fortunes since then. However, in 2020, Pinterest experienced an upward trend due to more user engagement and adoption worldwide. In December 2020, one share sold as high as US$68.53, putting the company’s value at $38 billion. Despite Pinterest’s good fortune, it still doesn’t measure up to Facebook’s initial estimate of over $100 billion.

Gender & Age Division for Usage

Pinterest statistics’ gender demographics reveal that platform is used by 60% of women and 40% of men. However, when it comes to their advertising audience, the gender breakdown is a bit different. Pinterest’s self-service advertising tools identified that the female audience stands tall at 76.7%, and the male audience is relatively less and falls at 15.3%.

Second-Gastest-Growing Social Media Platform

Pinterest may not be the most popular platform in the world, but it is one of the fastest growing. Between 2019 and 2021, Pinterest’s monthly active users grew quicker than any other platform except TikTok and increased by 32% in just two years. For comparison, Instagram one of Pinterest’s closest competitors – grew at only half that rate and increased its user base by 16% in the same period. TikTok grew at the fastest rate and increased its monthly active user count by 38%, Facebook grew by 19%, and Twitter just 8%.

Pinterest is Better at Connecting with Users Emotionally

Ad Week reports that Pinterest beats other apps and social platforms when it comes to connecting with users emotionally, especially among women. So if you’re looking for a platform that’ll help you connect with users, you’d want to start with Pinterest. Not only can it help you promote your products and services, but you’ll also get a chance to connect with them on an emotional level.

A Majority of Pinterest Users Reside in the United States

Considering Pinterest is the second most popular social media platform in the United States, it should be no surprise that the U.S. is home to most of Pinterest’s users. Here’s a breakdown of Pinterest’s traffic distribution by country, showing the top five locations:

• United States: 42.81%
• Brazil: 8.35%
• India: 3.82%
• China: 2.57%
• Argentina: 2.07%

Number of Pinterest Pins

There are over 240 billion pins saved on Pinterest (Pinterest, 2022). With a total of 433 million Pinterest users, that’s an average of about 554 pins per pinner. Of the saved pins, as many as two-thirds are brand- or product-related pins, which shows just how effective marketing on Pinterest can be for brands. When creating content on Pinterest, you may want to feature your product being used, as these types of images are 67 percent more likely to drive sales.

Conclusion

In conclusion, Pinterest has evolved from a site for wedding ideas and recipes to a visual search engine that offers businesses a unique opportunity to showcase their products and services. Despite ranking 14th in terms of global social network popularity, Pinterest's active users still present a sizable market for businesses to target. Pinterest's reported value in 2020 was $38 billion, with monthly active users growing by 32% between 2019 and 2021, making it one of the fastest-growing social media platforms. Overall, Pinterest presents an excellent opportunity for businesses to connect with users emotionally and showcase their products and services to a growing audience.