Is Pinterest Advertising Still Worth It in 2023?

While many businesses are attempting to leverage social media marketing and adapt the evolution of AI technology, Pinterest is often under prioritized as a digital marketing tool and left behind in social media marketing strategy. Pinterest is a social media platform that allows users to discover and save ideas for various topics such as fashion, food, travel and more in the form of pinboards. Pinterest is mostly utilized to inspire and gain inspiration from contents that match their preferences for interests and hobbies. Users can save an image with a pin and organize them into a folder known as board. What makes Pinterest versatile is that each pin links with a website or post that a brand wants to increase organic traffic or sales. 

Although many businesses boost their brand awareness by focusing on social media platforms such as Facebook, Instagram and TikTok, there is a huge market for business on Pinterest. Ranking as the 14th largest social network on the internet, Pinterest is a great search engine with 445 million monthly active users. The application has seen global users growth rise at an 11 percent compound annual growth rate. It is also reported that Pinterest drives 3.8 times more than other platforms and 87 percent of its users have come to purchase decisions because of Pinterest. Many users are willing to spend on what they discover on Pinterest, indicating that businesses can use Pinterest to not only build their online presence but also to increase more traffic to websites and online stores.

Unlike other social media platforms, Pinterest users find advertising useful as 61 percent of them make purchase decisions from promoted pins. Pinterest ads are highly effective thanks to the way its content is displayed, which makes the application different from other social networks. Pinterest users are able to view pins by a variety of ways including visiting businesses’ profiles, searching for relevant keywords, and seeing content appearing on their feed if the pins are in common with their interests.

Furthermore, when a user saves a Promoted Pin, other users would see it on their feed as well, generating organic engagement and increasing additional sales. Even though the paid advertising campaigns end, the Pins themselves also last forever and your ads will always appear on users’ feed. Pinterest’s unique algorithm will circulate all of your Pins no matter when they are posted as long as they’re still available on the platform, which allow businesses to draw engagement from new audiences from a content they might have pinned years ago. Considering that many customers save products to consider and purchase them later rather than immediate purchase, Pinterest is an effective tool for businesses to sell their products or create content to reach their target audience.

It has never been easier for small businesses to showcase their product or service to the right audience on Pinterest with a budget. Unlike many paid business growth platforms, small businesses do not have to make a cash investment for digital advertisement to grow their brand on Pinterest. The only investment small owners need to start on Pinterest advertising are effort and time as the social media platform always needs new and unique content. Pinterest is an image-based search engine, therefore businesses must keep promoting their brand with a variety of high-quality content to create online presence. 

Overall, Pinterest is an underestimated platform for businesses and their social marketing strategy, yet it is a perfect tool to drive traffic and increase sales, particularly for small owners. Pinterest is definitely a great advertising powerhouse that all brands should utilize no matter what type of products they sell or service they provide. 

References

1. Macready, H. (2023). 38 Pinterest Stats That Matter to Marketers in 2023. Social Media Marketing & Management Dashboard. https://blog.hootsuite.com/pinterest-statistics-for-business/
2. Benwait, R. (2022). Why Pinterest Is a Social Platform Worth Using for Your Business. Digital Agency Network. https://digitalagencynetwork.com/why-pinterest-is-a-social-platform-worth-using-for-your-business/
3. Waldrop, M. (2023, April 20). Is Pinterest worthy of your brand’s time? Yes, here’s why. The Drum. https://www.thedrum.com/insight/2023/04/20/pinterest-worthy-your-brand-s-time-yes-here-s-why
4. Martin, M. (2022). The Pinterest Shopping Features You Should Know in 2023. Social Media Marketing & Management Dashboard. https://blog.hootsuite.com/pinterest-shopping/
5. Mialki, S. (2022, September 22). Pinterest Ads: Why You Should Use Them, Best Practices & More. Instapage. https://instapage.com/blog/pinterest-ads/#:~:text=Pinterest%20advertising%20can%20be%20a,before%20%E2%80%94%20especially%20from%20new%20customers.