Pinterest has long sought to position itself amongst advertisers as a viable alternative to well-established social media giants like Facebook, YouTube, Instagram, and Twitter. It’s working. 93% of users plan purchases through Pinterest and 87% made a purchase because of something they saw on Pinterest. Now the company is taking things a step further with the launch of the “Taste Graph.” So, what is the Taste Graph and how might it help retail, fashion and e-commerce enterprises when it comes to increasing lead generation?
Pinterest’s product is entirely visual. Every month, over 200 million people come to the site, see an image or photo posted by a user, commonly referred to as a “Pinner,” click on it and enter a world full of new and engaging ideas on how to live a more engaging and interesting life. The more Pinners “pin,” or click, the more data Pinterest gathers. It’s that data that makes Pinterest so unique when compared to other social media channels. It’s less about what people write and more about the user’s preferences and how those preferences change over time. It's a visual social media channel and it’s the images that lead users into a whole new world of interesting possibilities.
The Taste Graph is the ultimate digital marketing personalization technology. It tracks the evolving tastes, likes, and dislikes of all Pinners. The more Pinners search, save, explore and click, the more refined the targeting and the more accurate the data. Pinterest can then expand on the user’s preferences with suggestions, new categories, and new interests. With over 1 billion pins, trillions of user activities, and millions of monthly interactions between users, Pinterest has a solution that aligns the best categories to a constantly expanding user base.
What Does the Taste Graph Mean for Advertisers?
The Taste Graph is an expansion of over 5000 new categories and interests. It’s an increase of 10x Pinterest’s previous offering and it’s open for advertisers to leverage and use in lead generation. Initial results are very encouraging. Since the rollout, many advertisers are experiencing a 50% increase in click-through rates (CTR) and some are reporting 20% more effective clicks.
The Taste Graph will continue to grow over the coming weeks and months. As it does, Pinterest will further refine its data, giving advertisers an evolving platform to reach a visual audience, one that will continue to expand with new interests and new Pinterest suggestions. This is an ideal solution for e-commerce enterprises, but it’s especially important in the retail and fashion markets where a go/no-go decision on a purchase is entirely visual. Advertisers will start seeing this growth firsthand through the Pinterest Ads Manager, Pinterest Marketing Partners and by discussing the growth of new interests and categories with their Pinterest Account Manager.
Digital marketing teams have often struggled to turn the written word and real-time feedback of customers into actionable plans. Even search engines are just now starting to better rank images and photos. Pinterest has always been one step ahead of it all. The ability to segment customers based on their likes and dislikes of images and photos is something every advertiser needs to take advantage of.
If you're looking for other insights on how to benefit from social media advertising, then read Generating Leads with Facebook Lead Ads.