The hub of 100 million of monthly active users - Pinterest, is a special platform for companies, brands, and businesses. Compared to other social media marketing networks, Pinterest has its own distinctive way to expand your reach and meet your audience.
From apparel chains to beauty and footwear merchants - the retailers are growing faster on Pinterest, just only because of its trustworthiness to endorsing standard products. An instance could be, 72% of users look at the product on Pinterest before buying it from stores. According to other studies, around 47% of online consumers from the US and in general 90% of pinners across the world have made purchases based on recommendations from Pinterest. The brands who have coined out the potential of this marketing network, have been trying to make the fullest use of it. Now the million-dollar question is - how successful have they been so far and/or how they can measure the accomplishment of their goals?
The answer will require you to use several essential social media KPIs (Key Performance Indicators) which can track the performance of your brand campaign and monitor your competitors as well. Based on such few metrics, I have considered three top women fashion retailers - Urban Outfitters (UO), Forever 21 and H&M - to analyze how they have performed on Pinterest over the last four months.
Followers Change Rate
On Pinterest, followers of any page actually act as a gateway to audiences at great extent. That means there are a higher number of people looking at your pins than the numbers of followers you have through these followers. Therefore, it is well worth it to check out your followers change rate over time. Although UO and H&M have been seen to be growing at almost the same Followers Change Rate until Jan’16, but Forever 21 outperformed UO by Mar’16 while H&M has reached the highest peak by that time.
Key Metrics Table
Now, it would be interesting to analyze how the Followers Change Rate has affected others metrics or whether it really makes any difference. Let us take a slightly deeper look into the Key Metrics Table. UO and Forever 21 have been seen to contain the nearly similar number of followers over the last four months, nevertheless, there is a gigantic friction in total repins and likes between them. No wonder why if we just consider the exceeding amount of boards and pins of UO compared to Forever 21.
This means ‘Followers Change Rate’ metric singly is not enough to measure the campaign progress. To be specific, you need to take into account several more metrics which will give you the bigger picture. One of those metrics is ‘Pins change’. The estimation of periodical change shows how consistent increase in the total number of pins has impelled UO to catch the highest audience attention among these three brands.
Pin Type Distribution
Another important metric is Pin Type Distribution which is worth to be considered. This metric will answer your confusion regarding less amount of repins while you are just content with your higher board numbers and Followers Change Rate. Additional valuable information and content to photos might attract your audiences more and that could be one probable reason, we observe - why Forever 21 is driving the campaign in a combination of article-, products-, recipe-, and place-rich pins while H&M has maintained almost all regular pins.
To conclude, whether your brand is personal or professional, now it is more than important to consider this image sharing social network very diligently. Successful brands on Pinterest rely on sophisticated analyses of their performance through important KPIs to improve their pin patterns and in the end to have a more effective strategy to utilize the power of Pinterest.