Tag Archive for: social media marketing

Social Equity: How Google+ Adds Value to Your Business

April 12, 2013/by Corey Padveen

Many people do not believe in the power of Google+, but when it comes to Social Equity, the network cannot be ignored.

With regards to Google+, a great degree of the power of the network is derived from the reality that Google+ is owned by Google. Anything with the Google backing is automatically worth your consideration, and there is an inherent element of Social Equity added to your business because of it. But to simply say that the Social Equity of Google+ is derived from the fact that it is operated by Google is superficial and, more importantly, a misstatement.

In this Social Equity segment, we aim to define where the value of Google+ lies, and how businesses can profit from a presence on Google’s social network.

The Power of Google

As noted above, to simply state that Google+ matters because of Google is both true and false. It is the favouritism that Google will undoubtedly show signals coming from it’s own network over others that marketers need to be conscious of.

In last week’s Social Equity segment, we discussed the value added to your business from a linkage of SEO and social media. Google+ plays a major role from this perspective due to the fact that +1s on Google+ automatically register to the network as social signal backlinks. That’s a powerful feature. The fact that activity on Google+ can increase your search rankings means an inherent degree of Social Equity. But where Google+ truly stands out is in its Communities.

Google+ Communities

One of the main criticisms of businesses when it comes to Facebook has to do with the EdgeRank system. Effectively, the EdgeRank system is a complex filtration algorithm that prevents “unwanted” content from appearing in your timeline. Why does “unwanted” have quotes around it? Well, the EdgeRank system determines, based on engagement rates and other factors, what that content is; not you. So essentially, a page may publish a piece of content that you might be interested in, but because of the EdgeRank system, it may not show up on your timeline and the company might lose out on a prospective customer. Bad for business.

With Google+ Communities, there is no risk of this happening. When people join these communities, it is because they all share a common interest. Thus, it is assumed that everyone wants to see all of the content being posted to a group’s feed. So where is the Social Equity? Every bit of content you post to Google+ is seen by those who have shown interest in said content, whether that interest is by joining a community or following your page.

An unlimited potential for exposure means that you can constantly be targeting individuals who have come to you. Google+ is a pseudo-inbound marketing funnel. Considering inbound marketing is 62% more efficient than traditional marketing, it is no wonder there is value added to your business from a presence on Google+.

Despite the wealth of criticism Google+ is subjected to, it endures. The fact of the matter is, with the backing of Google and highly valuable abilities when it comes to social media for business, there is a degree of Social Equity involved with Google+ that no other network offers.

How do you find value added to your business as a result of Google+ marketing? Tell us in the comments below or on Twitter!

Social Media Case Study: Heineken

April 11, 2013/by Corey Padveen

Social media helps brands understand what their clients want, and few examples of that are better than Heineken’s limited edition bottle redesign.

Social media is an excellent avenue when it comes to engaging with your fans, and if you can find a way to get their input, all the better. Late in 2012, Heineken decided to redesign their trademark bottle for a limited edition set to celebrate their 140th anniversary. Now, if we have learned anything from the numerous redesigns of the Facebook page, it is that, for the most part, people do not like change, particularly when that change involves something as timeless as the Heineken bottle. So how do you ensure that the backlash will not be severe, particularly when it is in celebration of your brand’s 140th year in business? Turn to social media.

The Campaign

Mark van Iterson, Heineken’s Global Head of Design and his team decided that they would create a limited edition Heineken bottle that incorporated past designs and contemporary twists to mark the company’s 140th anniversary. However, instead of using a small team of in-house designers, van Iterson decided to reach out to Heineken’s massive social network (measured as the top beer on social media by L2 Think Tank) and offer fans a chance to redesign their favorite beer’s bottle.

Tens of thousands of submissions came pouring in from all over the world, and five finalists were chosen for a vote. However, to further promote the efforts of those who contributed, Heineken plans to showcase 30 designs at the Milan Design Week (April 2013) and produce, promote and sell the limited edition winning bottle at the end of this year.

The Lessons

Social media is such a powerful tool when it comes to crowdsourcing. Heineken recognized that and used social media, Facebook in particular, to put together this campaign. A lot of intuition went into effectively executing this campaign, and marketers should be aware of the goals and lessons this case study showcases.

Know Your Goals

Campaigns are fun, and some can be extremely successful. But in order to know whether or not your campaign was a success, you need to know what your goals are. For Heineken, the obvious goal was using their fan base to source a new design for a limited edition bottle. In an interview with ChiefMarketer.com, van Iterson states: “The goal is twofold. For us at Heineken it is fantastic to get ideas and designs that we didn’t think of ourselves. This unlocks huge creativity, and certainly will bring surprises, excitement and very fresh concepts. For a progressive brand like Heineken, always striving to innovate, improve and find fresh ideas, this is a great source.”

But what about the less apparent goals? Heineken gained a lot more than just a few bottle design suggestions. They gave their fans an opportunity to feel like they were important to the creative process. As we have noted in the past, engagement on social media builds your brand’s image. For Heineken, the goal here was to boost engagement with their fan base by offering them the opportunity to, in a way, join the Heineken team – and they succeeded.

Ask Your Audience

When it comes to social media, one of the reasons why people follow, like, or become fans of a brand is because they are already customers. In the beer world, there is plenty of competition, so when you have set of customers, your goal is to keep them coming back. How? Engage with them on social media.

Heineken had the opportunity to reach out to their audience for input when redesigning their bottle and the response was staggering. People are on social media to talk, so instead of sitting in silence, talk with them!

The New Survey, Poll and Focus Group

Why do programs succeed? Why do they fail? What would improve a program? Traditionally, these were questions answered by focus groups or surveys. But that’s marketing in the past. Social media is the new survey, poll and focus group, all in one place. Heineken capitalized on that fact and saved tremendously on both the cost of designing the bottle in-house and the potential cost of the bottle flopping in an unappreciative market.

Social media is a place where people lie to their friends and tell the truth to strangers. Do what Heineken did and take advantage of that.

Have you launched any campaigns asking your audience to participate? Tell us about it in the comments below or on Twitter!

Social Care: Customer Service on Social Media

April 10, 2013/by Corey Padveen

Social care is of ever-growing importance when it comes to social media for business, and it is important to understand what it is and how it differs from conventional customer service.

The Social Media Report 2012 from Nielsen and NM Incite explained a relatively new phenomenon: social care. What is social care? Social care is the concept of handling a portion (or, in some cases, all) of your customer service using social media.

This has been a growing trend in recent years and the majority of consumers have undoubtedly come across examples of social care when dealing with a brand. Perhaps the best known example of using social care to improve a brand’s client engagement and change client perceptions is Comcast.

Ever since Frank Eliason founded the @ComcastCares program, the company has seen a massive turnaround in terms of customer satisfaction and brand perception. That’s all thanks to social care.

Below are a few key benefits to note when it comes to social care, and a few reasons why it is of growing importance in the world of customer service.

It’s Popular!

According to the study by Nielsen and NM Incite, 47% of social media users engage in some form of social care. Furthermore, one in three social media users prefer social care to contacting a company by phone. With that high of a demand, it seems almost counter-intuitive to not have a department for social care.

It’s Convenient

If you ask anyone if they enjoy waiting on the phone for a customer service representative while listening to monotonous elevator music, the answer will almost certainly be uniformly, “No.” Social care eliminates this process and allows users to ask their question and go about their daily activities while waiting for a response. This also eliminates some of the pressure from the company. While it is important to respond in a timely fashion, customer service representatives are not faced with the potential of dealing with a frustrated customer who has been waiting an exceptionally long time.

It’s Less Expensive

Now we’ve got your attention! Social care offers a less expensive alternative to conventional customer service. Engaging with your audience on social media does not require as large a team as conventional forms of customer service. As noted above, the convenience aspect means that a smaller team can be engaging with issues as they arise as opposed to a large team dealing with a heavy volume of phone calls as quickly as possible.

It’s Public

@ComcastCares showed the market that Comcast really did care. The result? A huge spike in business and customer satisfaction. The fact that social media is a public medium means that people are able to see how you treat your customers, and if you really do care (and you should) it will show through social care. When people see that you treat your customers well, they are all the more likely to choose you when making their decision.

Social care is an important phenomenon and, slowly, becoming one of the most prominent forms of customer service.

Have you implemented any form of social care? Tell us in the comments below or on Twitter!

Pinterest Marketing: 7 Useful Tools

April 9, 2013/by Corey Padveen

Pinterest marketing recently received a boost with the integration of backend analytics on Pinterest. These 7 tools can further benefit your Pinterest marketing strategy.

Little by little, Pinterest is becoming more business friendly. First, there was the launch of business pages, and recently there was the announcement of integrated insights for businesses. This is an exciting time for Pinterest marketing, and for those evangelists, here are some great tools to help boost your Pinterest marketing efforts.

1. Piqora

Formerly known as Pinfluencer, Piqora is a fantastic tool when it comes to Pinterest marketing. With Piqora, users can build campaigns, track results, obtain more in-depth insights than those provided by basic analytics and measure both your influence in your community and the influence others have on their communities. This is an excellent tool for those serious about Pinterest marketing.

2. Pinpuff

Ever wonder how influential you are to your Pinterest community? Pinpuff is a fairly simple and easy-to-use tool that lets you know how influential you are to your community on Pinterest. Similar to the influence-measuring features in Piqora but without all of the technical elements.

3. Shopinterest

We have mentioned how to create catalogues in Pinterest, but what if you took your Pinterest marketing a step further and allowed your followers to not only see products you offer, but purchase them? Shopinterest, in beta at the moment, is currently offering users the ability to build stores and sell goods to engaged users – for free!

4. Reachli

Reachli is great not only for Pinterest, but any form of visual marketing. The tool allows you to build your campaigns and market them across a variety of networks. You can then closely track the progress of your campaigns with the broad analytics offered in the backend, and adjust your campaigns according to where you see the most success.

5. Pinalytics

A great tool that takes the insights offered for free in the backend of your own profile and applies them broadly across the entirety of the social network. Use Pinalytics to search for a keyword, term or user and see all of the trending activity and analytics that go with that search. This is a great tool to see what topics are garnering high levels of engagement.

6. HelloInsights

This great Pinterest tool provides you with a set of helpful insights that allow you to ‘pin intelligently’. Use the information to find out what is working, what isn’t and where, when and with whom you are getting the best results.

7. Pinstamatic

Ever wonder why some people have better boards than everyone else? With Pinstamatic, you can be right on top with your competition. This tool allows you to customize your boards to maximize engagement with add-ons like quotations, music maps and much more!

These are just a few of the great tools out there that should help with your Pinterest marketing. Pinterest is still an evolving tool, so keep your eyes open for new changes and updates that are geared to help marketers.

What tools do you use when it comes to maximizing your Pinterest marketing strategy? Tell us in the comments below or on Twitter!

Social Media: 5 Methods to Convince C-Level Skeptics

April 8, 2013/by Corey Padveen

When it comes to social media, every department may be sold on its benefits, but the most important folks in the room are the hardest to convince: executives.

Social media is an investment. Whether that investment is time, money, labor or something else, executives see it as an expense. And since the goal of executives is to keep a company as profitable as possible, it may not be an expense they are immediately willing to undertake.

Luckily, we have put together a compelling set of arguments to present to skeptical executives when it comes to selling the (very necessary) concept of social media. These five points should help any marketer cross that last hurdle before implementing a social media program and sharing a well-earned ‘told-ya-so’ at the next quarterly meeting. (NOTE: Probably not in your best interest to use those exact words at the next quarterly meeting. A well-organized report should do the trick.)

1. The ‘Leg-Up’ Argument

One of the easiest ways to show that social media is a necessary program is to show where your competitors are failing. We showcased 10 free social media monitoring tools in a blog post last week that you can use for some (very legal) corporate espionage. Listen in on what people are saying about your competitors and explain how this is information that can be used to give your brand a competitive advantage.

2. Scare Them (A Little Bit)

Though it seems hard to believe, there are still plenty of people out there who do not understand the power of SEO and social media. After all, not all executives rose through the ranks in the age of technology and online networking, and may not completely understand their awesome power. Ask them for five keywords with which they associate their brands. Type them into Google. Are they the first result? No? Their chances of being clicked on just fell 36% – and no we’re not kidding. Are they on the first page? No? Down over 90%.

We discussed some of the benefits of social media and SEO in a blog last week. SEO is still one of the most powerful ways of being found online. And even for those executives who do not believe or understand the power of social media, many know about SEO. Explain the added benefits to search rankings as a result of a properly executed social media strategy.

3. Show Conversations in Real-Time

This method is going to require a little bit more prep than the others. First, use any of the free social media monitoring tools we discussed in our earlier blog. Then, put together a profile of keywords that pulls in live conversations showcasing some leads that your company would be able to target with a social media program. This not only showcases the power of social media, but gets executives excited about implementing the program.

Last year, I was in a meeting with a real estate executive. I put together a very preliminary listening profile and, in our meeting, we pulled out three leads, one of which turned into a referral for the agent. Needless to say, they could not wait to dive into the program head on. Try it – these programs exist for a reason.

4. Present Case Studies

One of the most widely used arguments against the implementation of a social media program is that the results are unproven. This is always a baffling claim, because the evidence that these programs work is staggering. Before meeting with your executives, find some case studies for your industry (and yes, they exist for every industry) examine them and present them, in detail, at your meeting. Hard evidence of success is something executives are trained to look for, and practical examples are always better than theoretical ones.

5. Find More Than One Reason

You might know that the benefits of a social media program are virtually endless, but your executives might not. So, when you go into your meeting, give your executives more than one reason why they need social media. Though it’s obvious to seasoned social marketers, it is not as clear for everyone else.

BONUS: If you want a little push to get you going, set a few things up in the backend that can get your company started. These can be set up on your own time and include small, free listening programs, Google Alerts, or something similar. Having something in place will also help you get over that last hump before implementing a full-scale program.

Have you found any methods that help sell to skeptical executives? Tell us in the comments below or on Twitter!

Social Media: Week-in-Review, April 6, 2013

April 6, 2013/by Corey Padveen

In case you missed some of the topics we covered this week, here is the social media week-in-review!

Pinterest Marketing: Need-toKnow Updates [INFOGRAPHIC]

With the recent Pinterest updates, there is quite a bit social marketers need to be aware of. This infographic does an excellent job of outlining what new features exist, what features have been removed from the photo-sharing network, and how marketers should adapt to these changes.

Social Media SEO: The New Backlink Strategy

When it comes to SEO, social media is of ever-growing importance. Link-building has long been one of the foundational pillars of successful SEO, and with a proper social strategy in place, you can take your link-building to the next level.

10 Free Social Media Monitoring Tools

Success in social marketing is all about having an effective strategy in place, but tools can be a great compliment to your program. These 10 free social media monitoring tools can help you maxiomize your efforts in social marketing, and expand your reach considerably.

Social Media Case Study: Gillette

In 2010, with the World Cup right around the corner, Gillette wanted to attract a new customer base in Italy – males under the age of 25. They knew that social was important, and aimed to expand their presence in this new market using YouTube. The results were outstanding and we highlight some of the key lessons for marketers in this week’s social media case study.

Social Equity: Social Media and SEO

Linking your social media strategy to your SEO efforts can have dramatic effect when it comes to Social Equity. In this week’s Social Equity segment, we look at the value added to your business as a result of having highly correlated social media and SEO strategies.

Have a look through some of these great articles and enjoy your weekend!

Social Equity: Social Media and SEO

April 5, 2013/by Corey Padveen

Social Equity stands to increase significantly as a result of the benefits social media has with regards to SEO.

The secrecy surrounding search engine algorithms has resulted in a great deal of conjecture when it comes to social media factoring into SEO. That said, allusions made by executives, such as Matt Cutts at Google, have led to inferences that social media is a major factor when it comes to optimizing your content for search engines. As a result, your brand’s Social Equity stands to benefit greatly due to the fact that SEO is still one of the most successful means of getting found.

In today’s Social Equity segment, we aim to show where Social Equity is derived from the incorporating of social media into your SEO.

Where Are the SEO Benefits from Social Media?

In order to understand how an intertwining of social media and SEO add value to your business, it is first crucial to understand where SEO stands to benefit as a result of social signals.

The chart on the left was derived from research conducted by Searchmetrics. What the data shows is how heavily social signals (data from activity on social media channels) weigh into rankings on search engines. (For the graph on the left, rankings in the U.S.) Last year, traditional link-building, one of the cornerstones of conventional SEO, had been surpassed by Facebook shares.

Essentially, social signals and sharing register with search engines as links (if, of course, what is being shared contains a link to your content or a landing page). Thus, as the popularity of social media continues to grow, the importance of factoring SEO into your social strategy grows with it.

This is where Social Equity comes into the mix.

Social Equity Derived from Social Media and SEO

A properly formulated SEO strategy that incorporates your social media will result in a tremendous value added with regards to Social Equity. This holds true for two reasons.

First, traditional SEO is an ongoing process that requires numerous man hours and ongoing expenses. With social media factoring as heavily as it does into the equation, you stand to save quite a bit of resources when it comes to your investment in SEO. Considering the strength of social sharing, the link-building process is both faster and collaborative. So there is a two-fold benefit here: both your audience and your search rankings are being built up as you invest in your social media strategy.

Second, for many verticals, SEO is still a major focus when it comes to determining market share. In fact, a study conducted by Optify showed that the top result on Google receive over 35% of clicks from a search. Social media activity allows you to rise through the Google ranks, and when you stand a chance to generate more than a third of all traffic for a given keyword (or better yet, multiple keywords) the value of your website and business as a whole stands to rise.

Traditional SEO is still of great importance to your business’s value. But when it comes to Social Equity and the value added to your business as a result of social activity, it is essential that you incorporate social media into your SEO strategy. Your shareholders will thank you.

Have you seen your search rankings rise since beginning your social media program? Tell us in the comments below or on Twitter!

Social Media Case Study: Gillette

April 4, 2013/by Corey Padveen

With the strategic use of YouTube, Gillette managed to capture and engage an entirely untapped demographic.

In 2010, as the World Cup approached, the marketers at Gillette were wondering how they could capitalize on the growing use of social media and garner a new client-base. Through the strategic use of YouTube, coupled with a global initiative, Gillette managed to engage with a population of new and future customers (males under 25 years old) in Italy.

Let us first take a look at an overview of the campaign, followed by some statistics and, finally, lessons for social media marketers.

Gillette’s ‘Future Champions’ Campaign

In Italy, Gillette launched the ‘Future Champions’ campaign in association with its global ‘Gillette Champions’ initiative. The global campaign featured a wide variety of media for advertising, extending anywhere from television to social media. The ‘Future Champions’ initiative in Italy was aimed at a younger audience, hoping to capitalize on a relatively untapped market of new and emerging clientele (with regards to shaving – hence the focus on males under the age of 25).

Effectively, Gillette focused its efforts on the booming popularity of social media (YouTube, in particular) to market to this demographic, and the results were outstanding.

Campaign Statistics

YouTube alone reached 10% of their total audience, and all of their online and social media efforts reached 31% of their total audience reached. (It is important to note that this does not factor in those who were reached by YouTube, online and social media and other forms of marketing. That number was significantly higher.)

On YouTube, 62% of those reached fit the demographic Gillette was targeting (males under 25). Furthermore, the graph below shows how the campaign influenced intent.

YouTube was also the most cost efficient form of advertising. On average, reaching 1% of the target demographic on YouTube was over 7 times cheaper than reaching that same number on TV. Lastly, YouTube helped Gillette reach an audience that would have been lost without social media. 35% of those who were exposed to the brand’s campaign on YouTube had no contact with the television campaign.

Lessons for Marketers

Considering Gillette managed to reach a huge proportion of their target demographic and appeal to those individuals, persuading them to buy, it is no wonder that this is an excellent social media case study. This was no accident, however. The marketers at Gillette did their research and knew exactly what they were doing, and these lessons are some that should be adopted by all marketers, social media or otherwise, when constructing a campaign.

1. Know Where Your Audience Is

With regards to social media, this refers to knowing in which network your target audience is having a conversation. For marketing in general, it means which medium (i.e. TV, radio, print, social media, etc.).

The marketing team at Gillette knew the power of social media, particularly when a target demographic is under the age of 25. We have posted about social media demographics on our blog, and firmly believe that in order to be successful, your understanding of social media and your strategy when it comes to social marketing needs to go beyond simply having great content. You need to know where your audience is and when they are around in order to ensure that they see your content. Gillette understood this and it was a major factor behind their success.

2. Use Every Avenue at Your Disposal

One important thing that the campaign’s statistics showed was that adding YouTube to the mix of media used did not cannibalise other forms of digital advertising. In fact, of the 31% of people reached through YouTube and other online forms of advertising, there was an overlap of only 7%.

It is important to note that when you are trying to get a message out to your fans, followers and leads, you need to be aggressive. There are hundreds of millions of conversations taking place on social media at every moment of the day, and if you want to be heard, you need to be loud.

Do not confuse “loud” with careless, however. You need to make sure that your strategy is executed in such a way that you do not turn people off to your product. But market research, as done by Gillette, will help ensure that your message is both heard by everyone you wish to target and will help avoid redundancies in your marketing efforts.

3. Create a Marketing Hybrid

There were two major findings in the study: first, television alone was tremendously expensive and reached a massive audience (71%). Second, YouTube alone was extremely cost efficient but reached a smaller audience (17%). Together, however, they reached nearly the entire target audience and were quite cost efficient.

The takeaway here is that conventional forms of marketing still work, but they are no longer enough. In order to be successful, you need to create a hybrid marketing strategy that take the tried, tested and true media and incorporates the new, booming and efficient media. Together, the old and new cover all of your bases.

Remember, there are more cell phones in India than there are functioning toilets, so in many cases, the new has far surpassed the old in terms of reachability.

These three lessons are crucial to the success of a marketing strategy. Through the use of YouTube, Gillette managed to reach a huge proportion of their target audience, increase brand awareness and engagement, and increase intent to buy. What’s more, a huge proportion of this success can be attributed directly to the use of social media and, above all else, YouTube. The marketing team at Gillette understood their audience and marketed for them, not simply to them. This ultimately proved to be the most successful step taken.

Which of these lessons do you feel is most important? Why? Tell us in the comments below or on Twitter!

Pinterest Marketing: Need-to-Know Updates [INFOGRAPHIC]

April 1, 2013/by Corey Padveen

Pinterest marketing underwent a major overhaul recently with the site’s re-design, and there are a lot of changes marketers need to be aware of when it comes to Pinterest marketing.

Pinterest has long been a favorite medium for the visual marketer. In fact, last week, our Social Equity segment focused on the value added to your business as a result of your Pinterest marketing efforts. Well, we thought we would start the week off in similar fashion by showing you exactly what (major) changes Pinterest has undergone in the last couple of weeks as a result of their site re-deign, and how your Pinterest marketing strategies might need to be tweaked as a result.

One of the most interesting sections in the infographic below is the ‘Features Removed’ category, which details what is no longer available on Pinterest. When it comes to Pinterest marketing, the three most important features to disappear are undoubtedly links, tweeting pins and liking boards on Facebook.

With regards to links, do not forget that embedded links still exist, so make sure to embed a link to your website or landing page in each of your images. It is the featured link in your description that is no longer included. The difficulty that arises with the other two lost features is that it makes one’s efforts to create a cohesive, interconnected social media marketing strategy somewhat more difficult. You’ll need to be a little more creative when it comes to your Pinterest marketing in order to maintain brand consistency across all of your social networks.

That said, the features added to the newly re-designed Pinterest make Pinterest marketing a whole lot of fun, and introduce an entirely new business aspect to the photo sharing social network.

Have a look at the infographic below and let us know what your favorite new feature is or what you will miss most from the old Pinterest design! Tell us in the comments below or on Twitter!

Social Equity: The Power of Pinterest

March 29, 2013/by Corey Padveen

Social Equity benefits from the hidden power of Pinterest.

One of the jewels of social media is Pinterest. Since its launch a few years ago, Pinterest has been an unstoppable juggernaut in the realm of social media, and the Social Equity your business can derive from Pinterest is as impressive as it is unique.

Pinterest is not necessarily for every vertical, and it is important to understand that. While a presence on Pinterest can never hurt, it is not necessarily going to be your top generator of Social Equity if you do not meet the proper criteria – namely, that you are in a visual industry. Furthermore, if your business model is not necessarily apt for Pinterest (your average accountant may not be generating much revenue, Social Equity or referral traffic from Pinterest) you might be devoting precious resources to maintaining your account, when they should be focused on other social networks. Having said that, if you put together a social media strategy and recognize the potential for your business on Pinterest, the Social Equity you generate will be among the greatest of any of the networks we have discussed so far.

First, we should understand what makes Pinterest such a powerful tool when it comes to business.

The Business Potential for Pinterest

About a year ago, Shareaholic released a study that found something incredible: Pinterest was a greater generator of referral traffic than Twitter. Twitter. A month prior to that, it was discovered that Pinterest surpassed Google+, YouTube and LinkedIn combined for referral traffic. Since then, the social network has only grown in power, and with their recently launched Analytics feature, it is no wonder that we are discussing the Social Equity of Pinterest. Now Pinterest, too, recognizes the value it adds to business.

With the newly launched analytics and insights feature for your Pinterest account, you can monitor exactly how your audience is interacting with your pins and the images on your site. Though it is still somewhat new and in its infancy, this feature can mean big things for the future of Pinterest for business.

Other Important (Often Overlooked) Features

People tend to overlook a lot of the important features in the backend of Pinterest when it comes to generating referral traffic and building Social Equity. First, one should note that pins themselves do not register with crawlers to help with your search rankings, but your boards do, so optimize them.

Second, add links and meta descriptions to your images, because if those are shared outside of Pinterest, all the better for your exposure. And if someone clicks on the image within Pinterest, they are headed right to your site.

Third and finally, by simply adding a price to your pin’s description, you can add a price to the top corner of your image and create a pseudo-catalog (for minimal cost compared to traditional print) and share it with your followers, updating it regularly.

Now if you apply these simple measures, you can start to understand the Social Equity derived from a Pinterest presence.

Social Equity of Pinterest

Captivating images are a great way to build a following. People do not necessarily like text, but they love visual explanations. Just look at the jump in the use of infographics to simplify complex, often dull bits of content.

Pinterest can be a tool to develop a social image for your brand outside of your corporate image. Social Equity is as much about the likeability of your brand as it is the direct value added to your business as a result of social activity. Pinterest is an avenue through which you can make yourself very likeable, very quickly.

Furthermore, on the advertising end of things, Pinterest can, as noted above, provide your brand with a cost effective means of showcasing new products, providing links to an e-commerce store whereby those who like your product can purchase it and, more importantly, save you a tremendous amount of expense when it comes to printing new catalogs. Of course, a business with a physical location would likely do both, but for those who cannot come to your store, imagine the added value of having a virtual version of your catalog that not only features prices and availability, but links directly to the item in your virtual store.

In our social media case study about Burt’s Bees posted yesterday, we noted the increase in online sales Burt’s Bees experienced as a result of simplifying the buying process for their Facebook fans. (You can read the full article here.) Pinterest allows you to do the same thing, and a simple purchasing process with few or no hurdles means more customers and faster conversions.

Pinterest is a constantly and very quickly evolving tool. But with each step Pinterest takes, the Social Equity it stands to generate for your business goes a step further as well. Furthermore, because of its youth, there is still so much that has yet to be tried when it comes to Pinterest campaigns and promotions, and when it is something visual, it is often something intriguing. First to the social media market typically means biggest gains, and that goes both for financial and Social Equity gains.

Where have you found the value added to your business from Pinterest? Tell us in the comments below or on Twitter!