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Every business owner would know that aside from exposure, foot traffic is one of the drivers of revenue in a business. The number of people who pass by or who are led to his store determines to a certain degree how many would be purchasing his products or services.

This principle does not just apply for brick and mortar enterprises; it is for online businesses, as well, or for brick and mortar businesses with an online presence. Having a website is not enough, anymore. It has not been enough for quite a long time. You have to have strategies on how to direct traffic to your website, whether it be through search engine optimization strategies, affiliate marketing, email marketing or social media marketing.

The most popular and effective means of online marketing is social media marketing. People are social creatures, after all. We have the natural inclination to interact with others and share information we know and like. Three of the most popular social media sites are Facebook, Twitter and Pinterest.  Among these three, the fastest growing platform is Pinterest.

What is Pinterest?

For those who are not familiar yet, Pinterest (http://pinterest.com) is a social media site which uses a pin-board system to bookmark images that are linked to a particular website. It allows users to categorize images into different “boards” or themes based on their interests or hobbies. To a certain degree, it is akin to an actual pin board where some of us would place cut-out pictures or articles. Popular board categories include art, fashion, food, film, humor, home design and travel. Apart from “pinning” images, users can follow the boards of other users who have similar interests and taste. Users can also re-pin images from the boards they follow into their own boards.

Why Does Pinterest Matter?

In a nutshell, Pinterest:

  1. is the fastest growing social media site;
  2. promotes interaction and sharing;
  3. has the best demographic of users with high purchasing power; and
  4. help generate more purchases;

Pinterest now has 70 million users worldwide; with a 2,702.2% increase in unique visitors since May 2011 in 2012.

Eighty percent of pins on the site are re-pins. This means that users are more inclined to engage other users by reading off what has been pinned and re-pinning them on their own boards for sharing to those who follow them.

Interestingly, almost a third of Pinterest users reportedly have annual salaries of $100,000 or more. Most of the users are reportedly between 25 to 24 years old, seventy percent of which are females. With a purchasing power driven by consumerism, it is a retailer dream to be able to reach out to that demographic.

In fact, sixty nine percent of online consumers have reportedly found what they wanted to buy in Pinterest.

Why is Pinterest Popular?

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Pinterest’s design, features, functions and algorithm target the basic psychology of consumers:

  1. visually driven;
  2. low attention span;
  3. hoarding tendencies

Pinterest’s design makes it easy for user to scroll excessively through several content with minimum effort and minor distraction. Modern consumers like to browse through things easily. Pinterest’s design allows them that. As humans are mostly visual creatures, the images take up most of the space in a single page and are the stars in the design. Comments, repins and action buttons are neatly placed as not to distract users from the images.

Pinterest boards cater to the hoarding tendencies of people. People like to keep things. The boards allow them to do that, in a much organized fashion.

How Can Your Business Best Use Pinterest?

Knowing the why and the how of using a tool is not enough. One must know how a tool is best used to get maximum leverage. Here are some brief tips on how your business can best use Pinterest to generate more interest and sale of your products and services:

  1. use strong and stunning images – we cannot highlight enough how visually driven consumers are;
  2. be personal – consumers want to know and engage real people who are fun and candid.;
  3. be engaging – create a board for the primary purpose of soliciting feedback and stories from your users.

 

These data presented and points raised should be compelling enough for any businessman to include a Pinterest presence in his online marketing strategy.