“Pinterest is the Google of the visual web,” said Piqora CEO Sharad Verma.
Piqora, formerly called Pinfluencer, is an enterprise discovery marketing and analytics suite for Pinterest that works with brands such as ZGallerie and Steve Madden.
Although Pinterest doesn’t have advertising just yet, Piqora has learned by tracking its clients’ pins that the site can drive long-tail traffic for brands, even beyond 30 days, as users can search for items on the site at their leisure rather than following a particular feed in real-time like they would on Facebook or Twitter.
Here are five things that brands should know about Pinterest:
1. The Repin to Pin ratio of brand pins has gone up from 0.21 in the fourth quarter of 2012 to 0.3 in the first quarter of 2013 — a 42% increase in Pinterest virality.
“Pinterest’s new UI is optimized around pin discovery and recommendations,” Verma explained. “Pinterest launched ‘People who pinned this also pinned’ on the pin detail page, which enables pinners to easily find pins to repin. That means more repins for every pin that comes into Pinterest, causing an increase in virality. Pinterest gradually started rolling out this UI in mid-Q1.”
2. 70% of the clicks happen within the first 2 days of a pin’s lifespan on Pinterest. The remaining 30% of the clicks extend to 30 days after the pin is posted and beyond. Piquora advises brands to have a plan for removing old pages or handling products that go out of stock.
3. 11% of all the pins on Pinterest come from Tumblr; 1% are from the fashion site Polyvore, which is one of many interest-based visual networks that are trending on Pinterest. Another one is the interior design site Houzz.
4. Pinners place 95% of their pins into boards named after categories such as fashion, accessories, beauty, and furniture.
5. A small, but significant number (5%) of the pins are going into what are called commerce intent boards, where users place their pins into categories like want, own, buy, and wishlist.
This represents an area of growth for marketers to engage consumers who have already expressed an intent to buy. Is there a good way to do this? “Currently there is no good way,” said Verma, but “Piqora is working on something.”