Pinterest holds great marketing promise - 21% of US online adults visit it at least monthly, which is nearly as many users as Twitter and more than Instagram and Google+ (see graphic below) - but its not a valuable social marketing channel today, according to Forrester. The social site has yet to fully tap its deep customer insights but, if it does, it could ultimately drive more business than Facebook.
Nate Elliott, VP and principal analyst serving marketing leadership professionals explains in his blog why Pinterest is so confusing. It has huge untapped potential. But if not done right, leads to a lot of frustration for marketers. Elliot says Pinterest sees vast amounts of traffic and its data has the potential to drive more sales than Facebook's data. Since marketers can't tap into this data, this treasure trove lies wasted.
Commenting on the bottom line, Elliot says, "Pinterest’s marketing value lies more in the future than in the present. By 2016, Pinterest’s ad offering could trump that of other social sites — but today, most brands struggle to successfully use it as a marketing tool. We’re encouraging marketers to put limited resources into Pinterest right now. Once the site broadens its targeting capabilities, though, it’ll be time to spend."
Some major brands including Mashable and Martha Stewart Living and, celebrities like Ellen DeGeneres have stepped up to crack the Pinterest code. See how they are doing it here.
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Updated Date: Jan 20, 2015 12:48:17 IST