The Fortune 500 Pinterest Report

Transcription

Rivalfox Presents
The Fortune 500
Pinterest Report
2016
Table of Contents
About Pinterest.........................................................................3
Who are Pinterest users?...........................................................4
Why Fortune 500 companies use Pinterest?..............................5
Which Fortune 500 companies use Pinterest?...........................6
How do followers engage with companies on Pinterest?...........11
Case Study: Starbucks and the coffee community....................17
Key Takeaways: Pinterest is a content centered platform.........20
Pinterest reached 100 million active
software to track the Fortune 500
users in 2015, making it one of the
companies and their behaviour on
most important social media channels
Pinterest over a two month period
behind giants such as Facebook,
(from October 1st, 2015 to November
Twitter and Instagram. To understand
30th), analyzing a total of 29,144 pins.
how and why big brands are using
Pinterest, Rivalfox conducted a
detailed study using the Rivalfox
About
Pinterest
March 2010:
Pinterest is
launched
March 2011:
iPhone App
Is Launched
“The visual bookmarking tool that helps
you discover and save creative ideas,”
Founded in 2010, Pinterest is what we can call an “image
December 2011:
Pinterest Enters
the 10 Most
Visted Sites With
11m+ visits per
week
bookmarking” tool. It allows connected users to share their
interests and hobbies through images (and video) harvested
May 2012
Rakuten Invests
$100M in
Pinterest
online.
The pictures, also referred to as “pins”, can be organized
in several “boards”. Users can interact with the pins in two
ways: they can either re-pin them to one of their own boards,
August 2012
or simply “like” them.
Pinterest is used by numerous designers, chefs, gardeners,
iPad &
Android Apps
Are Launched
artists, architects and general creative types to share their
latest ideas and inspiration. The idea, according to Pinterest
is to “trigger creativity” and in consequence the platform is
widely acknowledged as being the platform for sharing DIY
ideas.
Rivalfox Fortune 500 Pinterest Report
August 2014
Business
Analytics
Dashboard
Launched
3
Who are
Pinterest users?
Pinterest claims it has more than 100 million active users worldwide. This map shows a breakdown
of Pinterest users according to estimations.
Canada 4.11%
UK 3.71%
USA 45.56%
Brazil 2.93%
France 3.20%
Demographic breakdown of Pinterest users in the USA
Age Breakdown %
Income
18-29
37
Less than 30,000$ per year
24
30-49
36
30,000$ - 49,999$
37
50-64
24
50,000$ - 75,999$
41
Over 75,000$
30
Internet users, the % who use Pinterest
Residential Locations %
Total
31
Urban
26
Men
16
Suburban
34
Women
44
Rural
31
Survey carried out by the Pew Research Center between March 17 and April 12, 2015
4
Why Fortune 500
companies use
Pinterest
Pinterest can be useful for business in three different areas:
In order to establish brand authority, a company can create
educational content around its business sector, spread over
several specialized boards. A good combination of external
and internal content is most effective. And it’s also a good
way to promote the brand’s products in a fun way.
As with any social network, Pinterest has the potential to
increase the overall Audience Reach of a company. As a
Twitter influencer would increase a company’s reach by
retweeting content, a popular pinner can easily present and
share appealing pins to a large number of followers.
Ultimately, effective use of Pinterest should be a way to
increase traffic.
5
Which Fortune 500
companies use
Pinterest?
verizon
Rivalfox analyzed Pinterest data for the 2015 list of F500 companies to see who is
using the platform and how.
We used data aggregated from the October 1st 2015 to November 30th 2015,
representing a total of 28,754 photos and 390 videos.
6
Finding #1: 38% of Fortune 500 companies have a
Pinterest account
According to the University of Massachusetts Dartmouth Center for Marketing
Research, just nine of F500 companies had a Pinterest account back in 2012. In
2013, this number rose to 45, and exploded in 2014 to 178 companies, one of the
largest increases documented by the research center.
This coincides with the launch of the Pinterest business analytics platform, which
was unveiled in the same year to give businesses access to new data and insights
about their audience engagement on the platform.
7
Finding #2: Only 17% of the F500 companies are active on
Pinterest
The data showed that a number of F500 companies are not actively using Pinterest
regularly. 55% of F500 companies with a Pinterest account didn’t use the platform
during the study period. If we define an active Pinterest user as “posting at least
once every two months,” the number of F500 active Pinterest users stands at 83
(17%).
As expected, B2C companies lead the way when it comes to using Pinterest, in
terms of content including number of Pins, number of Boards, and other factors
dependent on the quality and relevance of the actual content posted, including
number of followers, and level of engagement (which we will study more closely
later in this report).
The companies and verticals most active on Pinterest match Pinterest’s user
demographic analysis. Given that the typical Pinterest user is a middle class
women between 18-49 years old, it makes sense that Nordstrom has the most
followers.
8
The creative/DIY orientation of Pinterest is also closely reflected in the activity
sector of its popular brands, such as Home Depot and Lowe’s (Home Improvement
Retailers), two accounts with a lot of followers.
Top 10 of the F500 Companies
with the most Pinterest
Followers
1. Nordstrom
4,323,892 Followers
2. Lowe’s
3,400,222 Followers
3. Target
346,049 Followers
4. Home Depot
341,977 Followers
5. Kraft Food
282,550 Followers
6. Whole Foods
273,701 Followers
7. Starbucks
225,288 Followers
8. Kohl’s
201,862 Followers
9. Disney
179,987 Followers
10. Bed Bath & B...
164,533 Followers
Top 10 of the F500 companies
with the most Pins (from
01.10.15 to 30.11.2015)
1. Kohl’s
23,100 Pins
2. Lowe’s
4,900 Pins
3. Starbucks
2,900 Pins
4. Sandisk
2,003 Pins
5. Dick’s Sporting G...
Top 10 of the F500 companies
with the most Boards
1. Amazon
73 Boards
2. Bed Bath & B...
70 Boards
3. Target
65 Boards
4. Land O’Lakes
65 Boards
5. Lowe’s
1,788 Pins
65
6. Live Nation
6. Macy’s
1,788 Pins
7. Dillard’s
1,524 Pins
8. Barnes & Noble
1,463 Pins
9. PetSmart
1,459 Pins
10. Western Union
1,364 Pins
65 Boards
7. Campbell’s
58 Boards
8. eBay
56 Baords
9. Whole Foods
56 Boards
10. Kraft Food
56 Boards
9
Finding #3: 69% of F500 companies with a Pinterest account
are B2C companies
It’s quite difficult to differentiate B2B from B2C when evaluating large
corporations such as the ones from the F500 list. A lot of them target both
businesses and consumers, and in most cases, companies that are predominantly
B2B will use Pinterest for their smaller B2C activities. As a result, we segmented
these organizations by putting companies that are strictly B2B into the B2B
bucket. This yielded a split that classified 69% of the Fortune 500 companies with
a Pinterest account as B2C companies and 31% as B2B.
One good example of a B2B company using Pinterest is J.B. Hunt. The
transportation giant is using Pinterest in order to connect with drivers, having
developed several boards highlighting the trucker lifestyle and providing tips for
when you’re “on the road.”
10
How do followers
engage with
companies on
Pinterest?
The level of activity on Pinterest can be a good indicator of how successful a brand
is, however it is still only part of the picture. The level of engagement that the
audience has with a given post remains the most important factor when studying
social media today. In the following section, we will define engagement as the
number of interactions received (re-pins and likes).
Finding #4: On Pinterest, the number of followers doesn’t
correlate with engagement
11
As surprising as it may seem, the largest accounts in terms of followers didn’t
necessarily gather the most engagement points during the period of study.
This can be explained as follows:
• Popular accounts with large numbers of followers are most likely to be targeted
by SPAM accounts, which don’t engage at all
• Most engagement is made by non-followers. This was the subject of a study
by Bluma Gelley and Ajita John in 2014, which found that “only 12.3% of a
user’s followers interact with their pins, and over 70% of activity on each user’s
boards is done by non-followers”.
Finding #5: It is hard to receive engagement with fewer than
10 boards
Though engagement isn’t directly correlated, or an absolute indicator of number of
boards, we did identify a small correlation in that active engagement occurs with a
minimum of 10 boards. The more boards a brand has the wider the range of topics,
and thus appeal to a wider range of people.
12
Although Nordstrom and Lowe’s lead the way when it comes to the number
of followers, they don’t live up to the expectations when looking at the actual
engagement received. Starbucks, Target and Kraft Food seem to be receiving
greater engagement even though they have far fewer followers.
Finding #6: Yum! Pinterest is the network for sharing
food recipes
The most engaging Pins from Starbucks, Target and Kraft Foods Group during the
study period were as follows:
13
Noticed any similarities? On Pinterest, food recipes equal engagement. Many
brands took advantage of this, even those which don’t have a direct connection
to the food industry. Target, for example, created a “Thanksgiving” board, sharing
numerous holiday recipes to its followers.
Bed Bath and Beyond followed a similar strategy. The brand’s “Recipes” board is
the second most active of the retailer’s 70 boards. The most popular “Inspiration
from our blog,” also contains a number of recipes.
Finding #7: Image is still the most widely used format
on Pinterest
Photos still make up for the majority
of posts, with videos representing just
1.3% of the total pins during the period
of our study.
According to the Pinterest blog: “A
picture may be worth a thousands
words, but sometimes a video is more
effective in communicating emotion
and captivating a viewer.” Though the
sentiment is nice, it seems that for now at least Pinterest is not quite the right
fit for video sharing. That said, the original idea wasn’t to compete with Vine or
Instagram videos, but more to extend the famous “Pin it” button to applications
such as Youtube, Vimeo or Dailymotion.
14
During the course of the study, images received 5 times more engagement than
videos. By way of comparison, Simply Measured recently published a study on big
brands and their use of Instagram, which showed that videos receive on average
20,000 engagement points versus 35,000 for photos. Once again the image rules,
but the difference on Instagram is far less pronounced than on Pinterest.
The reason is twofold: not only are images faster to process, but social media
users are often looking for instant gratification and can be deterred by videos.
Since Instagram limits videos to just 15 seconds, the chances that people will
watch the entire video and engage are increased.
15
Pinterest
Posting Tips
Monday
1st March
Tuesday
2nd March
Wednesday
3rd March
Thursday
4th March
Friday
5th March
Saturday
6th March
Sunday
7th March
Post
Most successful publishing
times on Pinterest according to
Fannit.com
Best Day To Pin
Saturday
Pinterest is the channel for a calm
Best Time To Pin
weekend, but if you want to post during
2am - 4am / 8pm - 11pm
weekdays, try to cover the “subjects of
the day”! Also, don’t forget to add a call to
action if you want people to interact.
16
Case Study
Starbucks & The
Coffee Community
Coffee giant Starbucks is one very interesting example of
Pinterest success. It has the largest engagement per 1,000
followers among all of the F500 companies, confirming the
assumption that the number of followers and boards created
doesn’t directly impact the engagement.
The Starbucks Pinterest is a perfect blend of what makes a page successful:
1. Group Boards
Encouraging contributors to add to boards increases engagement and creates
a self-feeding content process. Boards like “The Art of Espresso” or “Coffee
Photography” curate the most beautiful pieces of coffee art online.
17
2. Contests
Running a contest is a great way to engage with your audience. Contests trigger
creativity from contributors, and voting for favorites generates an audience
reaction. The “Starbucks Cup Art” competition was a big hit; it enabled artists to
visibility, while also highlighting the famous mermaid cup, a key feature of the
Starbucks brand.
18
3. Repurposing Content
Starbucks re-uses the most suitable pictures
Time Highlighting the Famous
Mermaid cup
from its Instagram page on its Pinterest
account. This can be applicable to any kind
of content, for instance blog posts, which can
turn into beautiful infographics on Pinterest to
extend the life and reach of existing content.
5. Recipes & DIY
By far the most effective ingredients to secure
engagement with followers on Pinterest.
19
Key Takeaways:
Pinterest is a
Content Centered
Platform
The Rivalfox study revealed many interesting findings about F500 Pinterest use.
One of Pinterest’s differentiators is that it is content-focused, rather than follower
focused. Unlike Facebook, Twitter, and Instagram, engagement isn’t directly
correlated with the number of followers. The quality of content is the main driver
for visibility, as most interactions occur from users that are not followers.
Companies create and maintain a certain number of boards in order to reach
a wider audience and encourage people to participate in the content creation.
Pinterest is the social network for DIY and creation, particularly when it comes to
cuisine. Recipes garner far more engagement than any other type of content, with
users coming to the platform in order to find and exchange ideas.
While sharing video is possible, it has not yet taken off. The format makes for a
very small percentage of Pinterest posts, lacking the spontaneity and instant
gratification enjoyed by videos on other social media channels. Typically users
look to Pinterest to provide and bookmark ideas and inspiration that they can refer
back to, and this purpose is best served by images.
20
in the Rivalfox Fortune 500 Pinterest Report 18 look to Pinterest to provide and
bookmark ideas and inspiration that they can refer back to, and this purpose is
best served by images. It’s still hard to predict how Pinterest will evolve.
With the launch of buyable pins in June 2015, Pinterest is expanding its offering
to brands and businesses using the platform. While buyable pins are currently
available for a few major brands in the US only, it’s safe to say that buyable Pins
will change the way people interact with the platform in the future - for instance,
offering the possibility for users to bookmark products, and be notified when the
price drops.
Though usage of Pinterest is on the rise among Fortune 500 companies, it is not
yet a “must-have” social media tool among leading brands. However, buyable pins
could be an effective way to monetise engagement within the site, leading more
brands to join the platform and get their share of the cake.
rivalfox.com
21

The Fortune 500 Pinterest Report

Transcription

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