How to Measure ROI on Pinterest

Pinterest may be a wonderland of free traffic referrals, but how do you measure success on a social network with no advertising?  In a webinar that covered Pinterest analytics and social ROI, Pinfluencer‘s Alex Littlewood outlined the metrics of pinning.

The Value of Pinterest

Pinterest is now the third most popular social network in the United States. In the webinar, Littlewood explained how the inspiration board is completely different from the top two websites, Facebook and Twitter. “Facebook has become the operating system for the social web,” he said, while Twitter is where people go for news updates. Pinterest, in contrast, shows you the aspirations of the pinner.

If you measure your success by page views or e-commerce sales, Pinterest can be a valuable tool. The inspiration board is the fourth largest driver of traffic to other websites, beating out Yahoo!, Bing, and Twitter.

The users also spend an average of $180 per order on a referral from Pinterest, compared to the $80 they’d spend coming from Facebook or the $69 they would spend if they came from Twitter.

Top Level KPI’s

According to Pinfluencer, these key performance indicators help you understand the “pin-worthiness” of your content and discover new pinners.

Pins/Day: The most basic unit on Pinterest, pinning describes the act of converting a URL or a file into a pin and putting into a board on your profile. Pinfluencer has found 80 percent of pins on Pinterest originate from a website; the remaining 20 percent come from manual uploads. The important part of this metric is not the number of images you have posted to your own profile, but the number of images that other people have pinned from your site.

Repins/Pin: A repin occurs when people see something they like on Pinterest and add it to one of their own boards. The more repins per pin, the better, because it means that a pin has gone viral within Pinterest.

Followers/Day:  New followers mean that people will see your pins when they log into their accounts without having to search for them.

Check your own site for page views, sales, and other indicators that these pins and followers are drawing traffic to your site. Once you learn which images are the most popular, you’ll have a better idea of what to pin to your own boards in the future.

Power Pinners

There are two types of people you’ll want to have as followers:

Influencers: Authorities in their fields, these people have a lot of followers — one pin or repin from them will instantly reach a lot of people.

Advocates: The pins these users share with their followers are the most trusted because of the personal relationships the pinners have with their followers. Individually, advocates have a smaller audience, but collectively, they have the power to rival or exceed an influencer’s reach.

You can establish a relationship with these pinners by following them or making comments on, liking, and repinning their pins.

Pinterest for Men?

Pinfluencer had nothing earthshaking to report about Pinterest’s audience — 79 percent of Pinterest users are women and most of them are between 25 and 54 years old. This is not a bad thing for brands, said Littlewood, considering that women control 80 percent of consumer spending in the United States, according to ComScore.

But he believes that more men will start pinning in the near future, especially now that Pinterest has video capabilities. A “change in the site’s functionality” to draw them there “is not necessary,” Littlewood said; it’s just a matter of connecting men with the things they’re interested in.

 

Related Stories
Mediabistro Course

Pinterest Marketing

Pinterest MarketingPin your way to a wider audience! Starting December 1, work with the VP of Marketing at SheKnows to learn how to leverage Pinterest for your brand. In this course, you'll learn how to create a Pinterest Playbook to develop and measure your marketing strategy, grow a follower base, run an effective contest, and stay updated on the best practices for this platform. Register now!