There’s continues to be a huge buzz around Pinterest and it’s no wonder, since it’s lately announced that its seen its user base double since January 2012, taking the unique daily visitor count to a whopping 4 million. Not bad for a social network that only began life 25 months ago.
It seems that Pinterest is now beginning to make the male population sit up and take notice too; whilst women remain by far the biggest user group of the image-driven site, registrations by men have increased in recent weeks, taking the percentage of new male users to 28% in February.
The social image site also reported that it managed to break daily traffic records twice in April too, experiencing its highest ever numbers of visitors on the 23rd and 24th of the month.
It’s interesting to watch how the site is evolving for anyone who has an interest in the web, online marketing or business, as when sites such as Facebook and Twitter first emerged, the world wasn’t yet aware just how much power social media would come to enjoy.
Ladies like Pinterest and so does financial institutions
Women make up the core of Pinterest’s users, aged between 25-54, but this is something that looks set to change rapidly as more men and businesses begin to appreciate its value. Male users aren’t the only aspect that’s growing though, as Pinterest-driven revenue has leapt from 1% to 17% in this quarter.
This, and the sites meteoric growth, has attracted some speculation that the site is ripe for an Instagram-like buyout from one of the big players. This remains to be seen, but if it was to happen you would have to envy a business model that went from being a nobody to a worth estimated at around a $200m valuation in the space of a couple of years.
According to Liz Gould of Experian CheetahMail, Pinterest users who then click through to a site are more likely to show high conversion rates. She encourages her business clients to use the site and says it would be useful for companies to include Pinterest in the subject lines of marketing email.
It’s really not very clear why Pinterest users convert to sales more easily than the other social media sites, which have all seen a drop revenue driven by their sites; Facebook have seen a 7% decline Twitter 9% in the second quarter.
This could be, as the infographic shows, because Pinterest tends to attract users from higher earnings brackets. The majority (49%) have a household income of between $25-50K and only 8% of all its users come from a family that earns less than $25K per year.
Whatever the reason, there is absolutely no doubt that Pinterest continues to grow and evolve at what can only be described as an astonishing rate, so watch this space for what happens next.