Technology & Data
- Big Data
- Tech & Innovation
How to Get Your Sales and Marketing Teams to Work in HarmonyContent Marketing for Midsized Companies: Whom to Target, What to CreateAtri Chatterjee of Act-On Software on the New Generation of MarketersMarketing Automation: What It Is and Why You Need to Know
- Social Tools
Join us September 15th in Atlanta for The Employee Advocacy Summit and learn how to unleash the power of your employees.
Post your event here and we'll share it with our community. If one of our members is featured, we'll promote as well on their profile.
- Marketplace & Webinars
The SMT Marketplace
Your resource for exclusive content and insights from Social Media Today, and opportunities to reach our community of professionals.
The Social Business Book Club brings you books, discussions, and insights from today's to business thought leaders.
Join interactive talks and and panel discussions with leading thinkers and practitioners on social media and networked business, or browse the catalogue of recorded sessions - all completely free.
Reach Social Media Today's community of marketing and communications professionals in an editor-approved context with a native advertising package.
Pinterest’s growth reaches new heights.
Posted on July 30th 2012
Although the social media platform Pinterest appears to have been an overnight success in mid-2011, it’s really been four years in the making, according to an article on Yahoo Finance. Ben Silbermann, one of Pinterest’s founders and a former Google employee, was the visionary behind the virtual pinboard that flopped before it flourished.
Silbermann’s original vision was an iPhone app called Tote that pulled data from multiple online product catalogs into one, meta catalogue for shoppers. Users could find products from multiple retailers in one place, and search by location. When the app didn’t achieve the success he had hoped, Silbermann observed that the people who were using the app were sending themselves images of the products they liked and collecting them. He eventually realized that people weren’t searching for a specific product by name. They were searching by category. And hence, it evolved into an idea that made $37 million in 2011 alone.
So what does this mean for platforms like Facebook and Twitter that have already carved out a hefty piece of the social media pie? Well, according to research from a Compete Online Shopper Intelligence Survey, one in four consumers report that they are spending less time on other social media sites in favor of Pinterest. It’s becoming more than just a place where people go to show off their MacGyver-like craft skills (although they can do that there, too). It’s a place that’s driving purchasing decisions. Twenty-five percent of those surveyed reported purchasing a product or service after searching for it on Pinterest.
In the last year, Pinterest has grown from 700,000 unique visitors to nearly 20 million, which is about half the number of Twitter’s unique visitors. They’ve even tapped into an audience that wasn’t previously engaged in social media. Fifteen percent of users on Pinterest reported that they do not use any social media sites. It’s become a place where people go to find excursions in Costa Rica, the perfect recipe for a seven-layer cheese dip, inspiration for wedding invitations, the right outfit for a big interview, or step-by-step instructions of how to expand your closet, without bringing your house down with it.
If you can dream it, you can find it. And if you can’t find it, you can pin it.