Pinterest, one of the fastest-growing social networks of 2014 is about to grow more and get a lot bigger – That’s providing nothing else stands in its way and it continues growing at last year’s rate.
Also Read: Is Pinterest Considering A ‘Buy’ Button?
The numbers talk for themselves and man oh man – the numbers are incredible. If all goes well, Pinterest should top over 50 million active users in the US alone (that’s roughly 1/5 of US internet users) in 2016. This puts the platform right behind Facebook and Twitter as biggest social platforms. But just barely.
Facebook had over 120 million active users back in 2013 whereas Twitter had half of that (over 60 million at the end of 2014) so I wouldn’t go so far as to say Pinterest is a serious contender, but it’s obvious that the platform is gaining traction. The forecast comes courtesy of eMarketer, however another company – comScore – puts unique visitors of Pinterest at over 70 million in January of 2015!
And although there’s not much to do on Pinterest other than pin and re-pin things, there seems to be appeal in this. The platform is dominated by women, so just think about the opportunities! It’s a “browser’s” paradise – essentially whoever’s on Pinterest is in the the browsing/buying mood. The ease with which marketers can reach people in this frame of mind is incredible. No wonder therefore, that Pinterest is introducing a BUY button.
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But, Pinterest has a very limited ad inventory, which should be grown in the near future if the platform is to survive among the “big boys”. Sure, audience-targeting is something that needs a little more attention, but if we judge that Pinterest hasn’t really been around that long, we could forgive them for being a bit “late”. Promoted Pins were only launched in 2013!
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Pinterest has partnered with several brands to create special gift-finding tools to help shoppers with their holiday shopping.
Pinterest is launching a new single Pin format for its chronological following tab that will allow more discovery.