Is Pinterest A Threat To Facebook?
While Facebook does not really have anything to prove, Pinterest is working hard to reach the heights of the social media giant.
The battle between the two social networks is about to get intense. While this social platform boasts a massive billion figure user base, Pinterest with its approximate 25 million users has managed to deliver ROI.
Reports suggest that 62% of Pinterest users follow and repin retailers, as compared to only 17% of Facebook users who say they use purchase inspiration.
1. Pinterest users spend $180 as compared to Facebook users $85.
2. Pinterest influences 10% of transactions, while this other profile only influences 7%.
3. Pinterest has a 51% lower conversion rate than Facebook.
4. Pinterest users visit 44% fewer pages on the social pinboard than Facebook users do.
When it comes to ROI, Pinterest has definitely impressed marketers. The question whether Facebook inspires purchase has not really been answered. Over 50% of Facebook users access the site via mobiles and Facebook is trying hard to crack the code of mobile ad revenue. The recent effort was the launch of mobile newsfeed ads.
Facebook recently made a strategic move by announcing ‘Collection’. This is a feature the site is looking to launch soon, that will allow users to add stuff they like to their wishlist or even buy it. This feature will be greatly welcomed by marketers who would now have more opportunities to drive sales.
Pinterest however recently announced that it is now open for businesses. This is a clever move by Pinterest to counteract the upcoming competition from the ‘collections’ feature of Facebook. With this move Pinterest has opened up more avenues for businesses to drive more traffic and sales. It also strengthens Pinterest’s position as a business friendly social network.
If you feel you could benefit from some help with improving the effectiveness of your social presence, then why not give us a call at Network Intellect where one of our digital strategists will be happy to have a discussion with you.