As we do regularly, our agency is currently analyzing its social presence, the channels we engage with actively, and the strategy around these channels. The big question that’s up this round is the value of and the eROI-approach to Pinterest. For consumer brands, especially retailers, the importance of an active Pinterest account is a no-brainer. It has the most direct social-to-buy experience among the main social media channels. In fact, according to some research from e-commerce firm RichRelevance, the average sale resulting from a Pinterest user following an image back to its source and then buying the item is $180, compared with $80 for Facebook users and $70 for Twitter users. But for a non-(direct to)consumer industry like a marketing agency, the real question is: what’s the value? Time is money, so is Pinterest the channel to give us the most bang for our buck? Right now, eROI pivots its social brand strategy around Facebook, Twitter, Pinterest, and this blog. Should we alternate Pinterest for Google+ for better SEO? Or maybe for LinkedIn for more networking connections? This post doesn’t attempt to answer that question, as the agency hasn’t settled on the answer itself. But we are hoping to open up the conversation. Like any client, approach the question with a budget mindset – in a marketing department with limited bandwidth, where does Pinterest fall on this list? Full disclosure: this author is rowing for the pro-Pinterest boat, as I believe vehemently in the power of practice. By enlisting a streamlined set of best practices for our own Pinterest channel and tracking its success, we’re better equipped to provide actionable and proven recommendations to our clients. Additionally, Pinterest is about as visual as social media gets – and marketing is a visual industry in its own right. All self-promotion Pinterest rules aside, it’s a match made in heaven, #amIright?! Finally, Pinterest is one of the best social avenues for showing followers what’s important to you, and what makes you say “OoOo.” We adore our dogs. We relish our ‘hood. We gravitate to stylish innovation. And we love to ask why.
In the works, companies like Dobango are working to monetize the brand-engagement aspect of this channel via sponsored pushes not too different from the new Facebook ad model. Meanwhile, analytics junkies can get their fix with new up-and-coming tools like Curalate, PinReach and PinPuff. Retailers are already doing some great things to utilize their engagement on the channel (see Grey Poupon’s web site swap-out for Pinterest). So what about eROI – what should be our Pinteresting angle? Or should we ditch the digital pin-board all together? Share your thoughts.