The image-based social media website Pinterest is an undisputed darling among online “cool hunters,” design geeks, DIY nuts and shoppers. Though it only opened its virtual doors just three years ago (and only as a closed beta back then), Pinterest has already become the third-largest social network operating today, trailing behind only Facebook and Twitter.
And it’s not just Pinners who love Pinterest. Both B2C and B2B businesses —including 69 of the world’s top 100 brands—are seeing returns from their Pinterest fans. In fact, Pinterest-based shoppers spend an average of $169 per online purchasing session (a number no other social network comes close to matching).
Now, with the recent introduction of an analytics interface, the company is laying some significant groundwork for increased business engagement—and ultimately, the monetization strategy Pinterest will need to live up to its $2.5 billion valuation.
The analytics interface enables website owners to “take a look under the hood” and gauge how their visitors are engaging with the platform and how potential customers are being directed to their brands.
Core metrics include:
- Number of pins created from images on your website
- Number of users who have viewed pins related to your website
- Number of visitors being directed successfully to your site via Pinterest
- Popularity measures for your pins: which have been viewed the most, which have been repinned the most, etc.
If you are a business owner with a Pinterest presence, or you’re seeing traffic from Pinterest to your website, here are a few tips to make the most of this new tool: Read the rest of this entry »