Pinterest is hot property right now. 2020 was an exceptional year for the platform – it gained 100 million active users, the biggest growth the platform has ever seen – as the pandemic changed our behaviour. Stuck at home, people wanted home improvement inspiration, and ideas to hone practical skills in areas like cooking, fitness and DIY.
We dug into the stats to see whether it’s time for brands to look again at their Pinterest strategy.
What makes Pinterest interesting right now
Pinterest has been popular for a while, but it’s somehow lacked real purpose for lots of brands. That could change in 2021. It’s snapping at the heels of TikTok and Snapchat, and growing among younger users. We love the idea of Pinterest Predicts, too. People use Pinterest to plan, which means brands can spot trends, and see what demand might look before it hits. Sixty-one per cent of users go to Pinterest when they’re starting a new project, and 46% say that they try new things after seeing them on Pinterest. In total, 72% use Pinterest to find inspiration for their next purchase (according to figures from Pinterest). Fifty percent of US users say that they shop on Pinterest frequently.
Women still make up the majority of Pinterest’s audience (at 60% of its user base), but 2020 saw a 50% increase in men using the app. Gen Z users are up 50% year-on-year and in 2020, 35% more Millennials were using the app than in 2019.
Content-wise, Pinterest has seen a growth in video uploads and views. There were 800% more video uploads in 2020 (than there were in 2019) ,and daily video views reached one billion.
Pinterest has struggled to keep people in the app. Consumers use it to dip in, plan for a specific project, and leave. Historically it has lacked the in-depth interaction (and therefore, the community) that other social media platforms have. (For example, 80% of the content is posted by brands, so there’s a clear area for improvement with user engagement.)
Pinterest is looking for ways to keep its new users around beyond the pandemic planning and post-COVID dreaming that many people are using it for.
What is Pinterest changing for 2021 that will benefit brands?
Pinterest’s CMO, Andrea Mallard, has reaffirmed Pinterest’s commitment to delivering the sort of inspirational content it’s known for, but she also wants to use “dynamic experiences” to increase engagement. As she told Forbes, the new Pinterest strategy will focus on:
- Purposeful content, like how-to videos. For example, it wants to see an increased use of augmented reality (such as fashion and cosmetics brands allowing people to try on clothes and make-up digitally). One great thing about Pinterest is it gives brands an early insight into new trends. Tracking these trends can help your brand create the practical videos that people will be searching for.
- Videos that focus on “immersive storytelling” that keep users engaged and on the app. Pinterest’s advantage over some other social media platforms is that it’s clear what areas people are interested in just by looking at their boards and pins. It’s much easier to create relevant content that can engage people and encourage them to act when you know what they want.
- Pinterest is trying to attract a diverse range of influencers to the platform. Pinterest wants 50% of its influencers to be from diverse backgrounds. To help ensure this, it’s introduced a programme to support Black creators and influencers.
- Refining the advertising programme for brands. Pinterest introduced Pinterest Premiere in March 2021. It lets brands buy exclusive placements on people’s feeds, targeting specific content categories, user demographics, and interests (and will help brands create purposeful and relevant content).
- Giving brands greater insight through user data. Brands will get a much clearer picture of how people use Pinterest, and it should be easier to track a user’s journey to purchase.