Back in 2010, Pinterest held a mere 5,000 followers. As of September 18, 2015, the visual giant was able to boast members totaling 100 million. How do you think they were able to expand so quickly?
As I explain in One Insanely Huge Pinterest Marketing Tactic You Can’t Afford To Miss, they knew exactly who their Pinterest target market was, exactly who was more likely to sign up for their service, and they did an immaculate job targeting those type of people. Looking back, you and I can laugh and say- yeah, it was obvious there strategy would work, look at what they did! Beautiful, clean images? Easy, quick ways of uploading ideas?
How did they target their initial audiences so effectively, though? It wasn’t as simple as you may think, involving a good amount of thought. Let me tell you; read on!
Know Your Target Market
Any knowledgeable marketing/advertising professional on earth is going to tell you to ‘know your target market’. Let me give you a few examples here- a grocery store simply can’t market equally toward everyone; Retailing beasts such as Wall Mart, Foot Locker, even America’s largest athletic manufacturer- Nike- they all target particular demographics/interests more then others. No one just develops advertising geared toward ‘everyone’.
A less general example- Nike makes the most money off of their basketball signatures; it is ridiculous. Micheal Jordan hasn’t played a NBA game since 2003, yet they are, to this day, producing new models of his signature sneaker constantly- selling them each for nearly $200 a pop.
So, naturally- Nike spends the most money on their basketball advertisements.
Pinterest Statistics Essential to Developing Your Strategy
- 84% of total Pinterest users are female (as of 6/2014).
- 28% of online US Adults use Pinterest
- 45% of Pinterest users are from outside the US
- 67% of Pinterest users are under the age of 40 (as of 9/2015)
- 3.6% of US internet users, age 14-17 (teen) use Pinterest (10/2014)
- 92% of Pinterest pins are made by Women (5/2014)
- 94% of all Pinterest activity is from women. (5/2014)
Of course there is more, but the information given here is more then enough to determine who is using Pinterest the most, and significantly: Adult Women. Consider this information when developing your Pinterest marketing technique.
Now, I am not saying to base your entire market off of who uses Pinterest (unless you are Pinterest); that isn’t how this works. Specialize in your passion, something you are very knowledgeable in, something that you can easily and convincingly talk about. A product or idea you can make money with. Or, if you are already an established business- determine what type of person is going to want your services; who is going to benefit most from what you offer?
And, you know what? If you came to the conclusion that the answer just happens to be Adult women more than anyone else, not using Pinterest target market strategies to market your products (on top of other techniques) is just plain stupid.
I am not telling you not to market toward men on Pinterest! Pinterest is so simple and easy to use, I personally think it should be incorporated into nearly any online marketing strategy, regardless of the product; you aren’t exactly expending huge amounts of time and resources toward it.
Plugging this term into a Google search will bring up this definition:
Market segmentation is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries that have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them.
This is a technique I learned of in one of my college advertising courses, and possibly one of the most beneficial ideas I will ever learn throughout my entire college career. Almost any successful marketing campaign throughout the country does this, it is absolutely essential for success on a large scale. This is one of the reasons many marketing managers earn a salary of over $100 thousand annually.
The chart to your left is an example of what a ‘market segmentation’ chart looks like. This is a visual method marketers use to help identify target populations/groups of people.
Let me create a scenario; you are trying to figure out what age demographic to market some amazing product (assuming this appeals to people of every age equally, for simplicity sake), and this chart defines your market segments. In this case, you want to target those age 10-30 more then the other age groups; these sections are bigger. People over the age of 60 make up such a tiny portion of the population; targeting them as much as the others would make little sense.
Every major University, (probably every smaller one too) in the country uses this method, as well as all of the fast food chains (McDonald’s, BK, Taco Bell, etc.) companies like Coca- Cola, Pepsi, Disney, Nike, and probably every other larger business entity you can think of.
An advertising instructor of mine, also the marketing head of one of larger universities in Detroit, Michigan, uses 14 or so of these graphs to help segment populations said college wants to target; they decide how their multi-million dollar advertising budget is going to be spent based upon this data. Demographics such as age, gender, income level, location, etc. are all taken into account.
Pinterest Target Market Segment Categories; Where Do You Fit?
There are many segmentation categories, but at least four major ones you should consider when targeting your audience.
- Geography– Either your location or the location of your costumers; where your products will be used or purchased.
- Demographics– Separates markets using factors such as gender, age, household type, education, income
- Behavior– devises a population on the basis of behavior, usage and decision making patterns
- Psycho-graphic– Lifestyle, interests, activities
If you don’t want to get into all of the nitty-gritty, if it seems too technical/ time consuming- at least consider the demographics. Try and figure out what type of person is more likely to buy from you. Time and resources are being wasted if you don’t consider this.
Look at the chart above; you don’t want to spend the same amount of time on 4% of the population you do on 19%.
One Great Idea You Wouldn’t Think Of
Years ago, during the very first days of my marketing endeavors, an interesting idea struck me one day. Lansing, Michigan contains about six larger thrift stores, on top of all of the various second hand stores, etc. Perhaps more then any other product, or at least a volume close to other forms of clothing- people donate a lot of shoes.
Shoes are also one of the most popular fashion accessory/ form of clothing in America; people spend often spend hundreds on a single pair, and many Americans own at least five (sometimes over 20) pairs.
For about six months I would buy various pairs of used shoes at any one of these thrift stores (very seldom paying over $5 per pair), clean them up to like-new condition, and sell them online. You wouldn’t think so, but the market for these lightly used shoes is actually pretty big; I was able to earn over $ 4,000 in the six months I did this; pretty good for side income.
How This Relates to Pinterest
One thing that became blatantly obvious during my retailing endeavors- the average woman in America will spend quite a bit more money on footwear then the avg. man. Women also tend to own quite a few more pairs.
Consider that statistic, combined with the size of the Pinterest target market devoted to fashion (enormous), coupled with the overwhelming population of female users… I likely would have made quite a bit more money if I had marketed to female Pinterest users (an strategy I still may explore).
Did you like what you read?
If so, I point out probably the singular technique that most successful strategists use in One Insanely Huge Pinterest Marketing Tactic You Can’t Afford To Miss. You know those accounts that seem to gain another thousand followers every two weeks? This is how they do it.