Whenever a social network grows up, it attracts brands who want to interact with fans and expand their reach through connections with influencers. And when that happens, it becomes imperative to know how well they’re performing, which means rolling out analytics so some mid-level social media manager can build a strategy around increasing engagement.
Pinterest is the latest social network to go down this well-worn path. It’s got the brands on board, it’s got a group of brand-focused Pinterest For Business tools, and now it’s got a new analytics dashboard to help those brands better understand how fans are interacting with their content on Pinterest.
At a very high level, the dashboard is designed to provide a quick view into a business’ overall reach on Pinterest. They will be able to at a glance see the number of impressions and views their content got on the platform, as well as how those numbers have trended over time.
In addition, it provides businesses with insights into which Pins users interacted with, and how. It keeps tracks of all impressions, clicks, repins, and likes that a piece of content gets, as well as whether that content was a “Rich Pin” or a “Promoted Pin” to see how that content performed. The dashboard can also be used to see how content made it onto Pinterest through use of the company’s Pin It button on third-party sites.
With all that information, businesses can figure out what’s been working and what hasn’t been working, and well, do more of the stuff that’s been working. Whether that means trying to optimize its clickthrough rates by sharing a certain type of Pin that performs well, or increasing impressions through Promoted Pins, businesses will have a better idea of what Pinners like.
Those insights could lead to some actual, real-world changes in strategy beyond just determining what businesses should Pin. Pinterest product manager Jason Costa gave the example of online clothing retailer Vineyard Vines, which decided to bring back a belt design that had previously sold out after it garnered a lot of interest from potential customers on Pinterest.
In addition to seeing how various Pins perform, the analytics dashboard is also designed to help businesses learn more about their followers. It shares demographics and common interest data, allowing businesses to see more broadly what types of things their audiences are into. By doing so, businesses can better target their Pins to attract the attention of Pinterest users.
For Pinterest, releasing a product that keeps businesses happy and keeps them using its platform can only be a positive. The more they Pin and interact with Pinners, the more likely they are to use some of the services Promoted Pins to boost engagement. And having analytics to show that those Promoted Pins actually work will be key to ensuring that more businesses decide to use them.