The old adage "men rule the world" is now officially antiquated.
A more appropriate substitute would be "women and Pinterest rule the world." Okay, so maybe not the world (yet) but if you're responsible for marketing and driving your brand's customer loyalty strategy, women and Pinterest are going to be two of the most important tools available at your disposal.
I know what you're thinkingâ€¦ women? Pinterest? Huh?! Why are they important to my brand's viability?
For starters, let's look at the crucial demographic of women. Women's "purse"asing power accounts for 85% of all decisions across major verticals from retail to autos to healthcare, with women wielding 60% of all personal wealth in the US.
Women are expected to out-earn men by 2028—so the growing importance of this target audience is undeniable—and with women having surpassed men in internet usage for more than a decade, women are increasingly influential in the online and ecommerce space.
So what do women have to do with Pinterest?
Marked by a meteoric rise in recent months, Pinterest's fastest growing demographic is women – predominantly from Midwestern states. Studies have shown that women's buying habits have been extremely influenced by sites they trust, with Pinterest ranking among most-trusted websites.
Women are most inclined to purchase what their friends are purchasing or recommending, or on a referral basis. According to BlogHer, women were more likely to make a purchasing decision based on a Pinterest referral than a referral from any other social media website (Facebook, watch out!).
What, then, are the big takeaways from marketing professionals such as yourselves?
- Don't disregard women (in my opinion, a generally good rule of thumb). Their importance to your brand is substantial, and it's only going to grow in the next ten years.
- Pinterest is your friend. Use it to make your brand more powerful. This means posting images that equate to how your product or service can be used (make it fun!)- not just a bland product pic.
- Learn from the pros! Kate Spade New York, Whole Foods, and Coldwell Banker are brands that have gained traction in this important medium.
The best way to learn about Pinterest and other effective social media marketing campaigns from experts across all B2C verticals is to attend Loyalty World USA, the premier loyalty marketing and customer retention conference in the US.
Walgreens, Hilton Worldwide, SunTrust Banks and Sears Holding Corporation are among the key brands already confirmed. Register today to save and secure your space before the event sells out!