Establishing Your Brand and Maximizing ROI on Pinterest - presented at Digital Summit Dallas 2012
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Transcript of Establishing Your Brand and Maximizing ROI on Pinterest - presented at Digital Summit Dallas 2012
Establishing Your Brand & Maximizing ROI on
Daniel Maloney, CEO & Co-founder
@PinLeague @danielpmaloney #ddsummit
@PinLeague #ddsum12 954-505-8008
This Presentation is
Interactive
@PinLeague #ddsum12 954-505-8008
What do YOU want to discuss?
1. What Pinterest is (and isn’t)
2. Building Your Brand on Pinterest
3. Maximizing Pinterest ROI
@PinLeague #ddsum12 954-505-8008
Thank You!
Here’s A Gift
First Name + Email
(954) 505-8008
@PinLeague #ddsum12 954-505-8008
1. Mobilize Fan Base
2.Attract New Customers
3. Analytics & Insights
PinLeague makes
Pinterest Marketing
Easy
@PinLeague #ddsum12 954-505-8008
Data is at our Core
Pinterest Data
Each Day…
15 million Pins
3 million Profiles
Analytics & Insights Content, Influencers, Competitors
Audience Engine Find Your Target Audience
PinMail Socially powered E-mail
WHAT
IS
(AND ISN’T)
@PinLeague #ddsum12 954-505-8008
Fastest to 10 Million Monthly Users; now ~27 Million
Source: http://compete.com
10/2012
@PinLeague #ddsum12 954-505-8008
Source: http://info.rjmetrics.com/blog/bid/52877/Pinterest-Data-Analysis-An-Inside-Look
“It’s ADDICTIVE!”
@PinLeague #ddsum12 954-505-8008
175 Repins per Comment
Source: PinLeague data, based on a sample size of 3.3 million pins
It’s NOT Conversational
5-25 mins
It’s NOT about Status Updates
Sources: http://corp.klout.com/blog/2011/11/the-life-of-a-tweet/; http://www.marketingpilgrim.com/2011/04/new-study-half-life-of-a-facebook-post.html; Pin League client data: internal + Google Analytics; based on a sample of client repins; April 2012
5-25 minutes
80 minutes
> 1 week
5-25 minutes
80 minutes
@PinLeague #ddsum12 954-505-8008
Pinterest is an Online Pinboard
@PinLeague #ddsum12 954-505-8008
What have YOU
used pinboards for?
@PinLeague #ddsum12 954-505-8008
…Life events
…Home Projects
…Shopping
…Gifting
…Education
…Self-identity
Pinterest makes
Social.
@PinLeague #ddsum12 954-505-8008
Discovery & Planning
Pinterest makes
Social.
@PinLeague #ddsum12 954-505-8008
Fundamental Difference
What I’m doing
Who I am
Who I WANT TO BE
@PinLeague #ddsum12 954-505-8008
It’s Brand and Product Inclusive
@PinLeague #ddsum12 954-505-8008
More Referrals Per User,
More Revenue Per Referral
1.0 1.1
14.0
Twitter Facebook Pinterest
Ratio: Referral Share to User Share
14x
12.5x
Source: http://blog.eloqua.com/pinterest-social-media-marketing/; http://activ8social.com/2012/09/25/pinterests-power-infographic/
$69 $80
$179
Twitter Facebook Pinterest
Average Order Value from Social Referrals
BUILDING YOUR
ON
@PinLeague #ddsum12 954-505-8008
How Does Pinterest Factor into Your Social Media Mix?
Not Yet Pinning
Have Started Pinning
Growing Quickly
Pinterest = #1 Social Site
@PinLeague #ddsum12 954-505-8008
Will You Invest in Pinterest in 2013?
No.
Yes- Same as Today
Yes- More Than Today
@PinLeague #ddsum12 954-505-8008
Pinterest Adoption is Growing
Source: PinLeague research
312
403
530
83 101 124
0
150
300
450
600
March June September
Top 1,500 Brands on Pinterest
Have Profile Have 1,000+ Followers
Our Estimate:
90% penetration
in 2013
@PinLeague #ddsum12 954-505-8008
Early Brand “Winners” Emerging Women’s Magazine Brands: Conde Nast, Hearst, Meredith
Brand Followers
Harper’s Bazaar 5,645,247
Better Homes & Gardens 205,853
Seventeen 95,213
Marie Claire 92,839
Country Living 73,424
Lucky Magazine 58,791
3 brands >25,000
8 brands >10,000
17 brands <10,000
Good News: Pinterest has started to promote early adopters
Bad News: This window of opportunity will close
Source: Clarity Pinterest Analytics Dashboard - http://clarity.pinleague.com
@PinLeague #ddsum12 954-505-8008
80 / 20 80% of focus spent on Company profile / boards
80% of buzz and revenue from USER pins
@PinLeague #ddsum12 954-505-8008
Step 1: Know Your Audience
What is being shared / said about your brand?
Who is doing the sharing / talking?
@PinLeague #ddsum12 954-505-8008
Get A Free Analytics Dashboard at PinLeague.com
@PinLeague #ddsum12 954-505-8008
Step 2: Design CONTENT for the User
5 things they LOVE +
5 things they have a hard time finding +
2 things about you
= Your First 12 Boards
@PinLeague #ddsum12 954-505-8008
Cover Photos are Critical
Source: http://mashable.com/2012/05/29/pinterest-eye-tracking-study/#view_as_one_page-gallery_box5709
@PinLeague #ddsum12 954-505-8008
Cross-Platform
Step 3: Engage Your Fan Base
Integration Contests & Charity
@PinLeague #ddsum12 954-505-8008
Contests Can Draw Attention…
3,434 3,819
421
1,720
0
1,000
2,000
3,000
4,000
Restaurant Chains on Pinterest –Followers in September
panerabread maggianos pfchangs tgifridayspins chilis qdobamexgrill
Jumped to #2 with “Pin it to Win It”
contest on their blog
Source: Clarity Pinterest Analytics Dashboard - http://clarity.pinleague.com
@PinLeague #ddsum12 954-505-8008
…But Require Ongoing Promotion
Results
• 1,100 followers in 3 days
• Growth slowed down again substantially
Over 3 months: $0.41 / follower
@PinLeague #ddsum12 954-505-8008
Honda Jumped to An Early Lead
5,044 5,384
312 1,545
0
1,000
2,000
3,000
4,000
5,000
6,000
Automotive Brands on Pinterest –Followers in September
honda volkswagen porsche peugeotpanama officialmini jeep
"Pintermission:” A 24-hour break from Pinterest to visit places or buy products they've pinned about (with $500 cash)
And Jeep?
Source: Clarity Pinterest Analytics Dashboard - http://clarity.pinleague.com
@PinLeague #ddsum12 954-505-8008
Source: Clarity Pinterest Analytics Dashboard - http://clarity.pinleague.com
>1,000 Pinterest followers in 2 days
Growth tripled from 35 to 110 /wk
23k Likes later…
@PinLeague #ddsum12 954-505-8008
Step 4: Measure and Adjust
http://PinLeague.com
MAXIMIZING
ROI
@PinLeague #ddsum12 954-505-8008
The Most Common Reason for NOT Investing in Pinterest…
“I can’t justify the ROI vs. investing in Facebook or Twitter, where we have more followers.”
@PinLeague #ddsum12 954-505-8008
The Marginal Cost of Growth on Pinterest is Lower then Facebook
$0.01 – 0.50 $0.25 – 1.27
So, the issue must be critical mass
Source: http://www.emediavitals.com/content/price-facebook-fan
@PinLeague #ddsum12 954-505-8008
PinLeague can identify your E-mail subscribers and followers that use Pinterest and reconnect you with them
16k followers
471k fans
2.1M subscribers
*Twitter and e-mail available now, facebook coming soon
Energizing Your Base is the Fastest Path to Critical Mass.
@PinLeague #ddsum12 954-505-8008
2.1 M E-mails
Most Companies use a single Blast; this is a Flawed Approach
600k on Pinterest
1.5M Not on
“Yay!”
“Don’t SPAM Me!”
@PinLeague #ddsum12 954-505-8008
2.1 M E-mails
But Each User is Unique; Speak Their Language!
600k on Pinterest
1.5M Not on
800k Facebook
300k Twitter
@PinLeague #ddsum12 954-505-8008
Case Study: PinMail + Online Retail
60k
Users Targeted
$1,800 spend
Weekly email sends
+$11k / mo
on Pinterest
+12k Pins by users
+2,500 followers
@PinLeague #ddsum12 954-505-8008
2nd Fastest Path to Critical Mass: Influencer Recruitment
Not 1 of OldNavy’s 20 most influential
followers have pinned from
oldnavy.gap.com
@PinLeague #ddsum12 954-505-8008
Potential Applications
Content Analysis • SEO •Product Testing
Influencer & Fan Identification
•Build Influencer Network for all Ad Campaigns •HR / Recruiting Tool
Competitive Intelligence
•Merchandising •Track Campaign Effectiveness •Recruit Competitors’ Customers
Finally, Leverage Pinterest Data Elsewhere
@PinLeague #ddsum12 954-505-8008
How Can I Help?
First Name + Email
(954) 505-8008
@danielpmaloney