It's currently the most talked about social network in the Western hemisphere and already attracted thousands of brands, big and small. It's been hailed as being best the place where retailers can intimately connect with the predominantly female audience (and we all know who makes the financial decisions in the household, right?).
Pinterest has gone from a basement operation to being the 38th most visited website in the world in just two short years. It now attracts over 23m unique visitors a month and according to a recent report by comScore and ranks as the 38th most visited website online. Another report by Shareaholic suggests that Pinterest now sends more traffic to websites than every other social network except Facebook.
With numbers like these it's hardly something that big brands can ignore, and as Brian Solis, Principal Analyst at Altimeter Group and author of The End of Business as Usual, put it:
"Pinterest represents a notable opportunity for many social marketers, especially in any market where products or brand-related lifestyle can become a visual experience. In the three P's of successful social marketing, people, promotion and performance, many miss the very thing that provides a benchmark for comparison today and over time. Performance marketing metrics represent an emerging and important next step in social media marketing."
But how exactly do businesses, retailers and brands go about making the most optimal use of a social network in the nascent stages?
Well, they can start by seeing what's working for other brands on Pinterest and that's where Unmetric steps in. We've recently launched our Pinterest competitive intelligence and benchmkaring platform to our existing line up of Facebook, Twitter and YouTube modules. In a nutshell, it lets big brands see what others are doing, gain insights on best practices and ultimately compare performance to answer the question "are we doing well?".
To kick off the launch, we have been hard at work adding the Pin Boards of over 850 of the biggest brands in the world. Most brands have been gathering data for some time now so there's plenty of historical data to take reference from. As with our other competitive intelligence platforms, the Pinterest module is sector and region based so you are only benchmarking against brands that matter.
Track all the competitive data that matters on Pinterest. The screenshot below shows that Lowe's Home Improvement did something extraordinary recently that caused a huge jump in the number of comments. Since comments are one of the hardest engagements to earn on Pinterest, Home Depot and Home Goods might be interested in finding out what Lowe's did!
All the essential metrics are benchmarked against the sector and region. In the screenshot below, you can see that Home Goods received more repins than their sector.
Gather intelligence on your competitors' most successful boards with all the vital information presented on a single page. Sort the boards by new followers, comments, likes, repins, number of pins and even engagement per pin. You'll probably end up with a better idea of what's working for your competitors than they do themselves!
Keep on top of all your competitors' activity directly from the dashboard. The Activity tab tells you what every brand is up to, where they are pinning, what they are pinning and the response they are getting.
Compare everything that matters from the comparisons tab. Here we see the followers and growth rate of the biggest home improvement stores in America. Lowe's has taken to Pinterest in a big way and leveraged the mostly female audience to create a huge following. Home Goods isn't in the same league as Lowe's, but they are still outgrowing Home Depot.
Do you need to pin everything, including what the staff had for lunch to succeed on Pinterest? Are you pinning enough for a big brand? Discover exactly how your content creation efforts stack up against the rest of your competitors. Here we can see that Lowe's has been the most prolific with its pins, a contributor perhaps to its success in attracting followers.
You can compare the engagement on Likes, Comments and Repins to see who has been posting the most engaging content. The higher the ratio, the more it struck a chord with Pinterest users. Once again, Lowe's is far ahead of the competition with high engagement across all metrics. It does look like Home Depot still needs to find what clicks with their followers and other users of Pinterest.
And if all of this isn't enough, once your Pinterest efforts are underway, Unmetric works around the clock as your 24/7 employee watching out for anything unusual or spectacular that your competitors and sector in general is doing. When you login to your dashboard, you'll see an overview of what's going on, important data points you should check out, brands to take cognizance of and sector based benchmarks. We'll even send you instant email alerts when a competitor you are monitoring does something that's different from normal. We'll help you get to the top and stay on top.
Unmetric allows big brands to navigate the untrodden paths of Pinterest without getting lost. Creating a spectacular presence on Pinterest like Lowe's has achieved takes time, resources and most importantly: money. While there are no shortcuts on creating quality content, with the help of Unmetric's Pinterest competitive intelligence platform, big brands will be able to hit the ground running once they know what's working for others in their sector.
To grab a free trial and start getting the inside story on how top brands are leveraging Pinterest, signup for your free 10 day trial