Pin(n)ing Away for Pinterest

As social media continues in the spotlight with Facebook's IPO, all the current buzz seems to be about Pinterest's meteoric rise as its valuation soars (recent valuations put the company at a $1.5 billion market value).  For those who have only fleetingly heard of Pinterest, it's an online visually-driven scrapbook where users pin images and follow others.  According to comScore, Pinterest has over 20 million users and growing. 

Beyond browsing for craft ideas, beautiful scenes and other visual inspiration, how can your business benefit from using Pinterest for marketing purposes?  Big brands, colleges, artists, fashion houses and even small businesses have jumped on the bandwagon. 

What makes Pinterest most attractive to some is the potential for referral (website) traffic.  By January 2012, Pinterest drive greater traffic to websites than LinkedIn, Google Plus, Reddit, and YouTube...combined.  But, this only works for your business if your account features your business name, people understand who/what you are and your interests, your account is linked with other social media (think Facebook and Twitter), and they know how to find you (your url!).  Plus, you've got to be pinning something worth liking and sharing.

While some may say to simply "pin away," my suggestion is consider whether or not Pinterest is brand-right and fully consider the legal implications and ownership of what you are pinning on behalf of your business.  Recently, the Wall Street Journal printed a thoughtful article on Pinterest and the legal implications--particularly copyright law issues--looming on the horizon. 

Before you start using Pinterest for commercial uses, take a look at the terms of services which took effect in April 2012 and consider that what you pin essentially grants Pinterest "...a non-exclusive, royalty-free, transferable, sublicensable, worldwide license to use, display, reproduce, re-pin, modify (e.g., re-format), re-arrange, and distribute your User Content on Pinterest for the purposes of operating and providing the Service(s) to you and to our other Users," a sticky wicket worth consideration and a conversation with your legal counsel for sure.

Just because it's considered the big thing in social media doesn't mean it's right for your business or worth the effort and time.  Right now, Pinterest is dominated by women (68% of users) with money ($100K+); see who is using Pinterest?  So, if this sounds like your target consumer, it's probably worth considering once you've understood the legal implications.

Like with other social media platforms, it may make sense to follow others for a while before diving right in.  And, it's important to integrate your efforts strategically with your marketing of your brand while dovetailing with what Pinterest is about--a visually stimulating and fun playground of ideas and images.  What you pin (and encourage others to pin...say through a "pin it" button on your website) should be vetted through your brand filter so that you are supporting the pillars of your brand...and it needs to have potential wide appeal for those who are using Pinterest.  Check out this board of brands on Pinterest.

And, like in other social media efforts, what you pin shouldn't simply be a one-dimensional, self-serving rendition of your brand...even if you manage to follow the terms of use.  Brands that come across as trying too hard (think pinning QR codes) may be better off passing on Pinterest.  However, if your brand embodies bright, stimulating, creative and beautifully presented imagery, then Pinterest could be a great vehicle. 

Like any other social media effort, listening is as important as the activities you and your marketing team undertake on behalf of your brand.  Monitoring what is being pinned by others will give you a sense of what's resonating with others...who are hopefully your target consumers or new ones to consider.  And, you never know, it may be a great playground for you and your brand for developing new ideas, products and services, too.