Sorting through data is enough to cause any marketer’s head to spin and Pinterest certainly isn’t short on data measurement either.
With more than 10 analytic data points between organic and paid marketing, understanding how to measure your return on investment with Pinterest is crucial to overall success on this platform.
Understanding how to analyze Pinterest metrics for your ROI is essential in both paid and organic marketing as they provide specific insight into combined Pinner intent and action, which helps to define the consumer journey.
Getting a quick handle on what analytics to monitor as well as how to use them will further your growth performance on Pinterest.
Before looking at analytics, however, you’ll want to make sure that you’re following best practices when it comes to both paid and organic marketing on Pinterest.
Grab this checklist to make sure your ad accounts are optimized and ready for performance on Pinterest.
Why Pinterest Analytics Matter:
Pinterest uses engagement information to determine what content is relevant to share with users.
Because engagement is driven by what users want to see, and that changes over time, understanding and using Pinterest analytics to monitor views, engagement, and other metrics, plays a big role in successful marketing on Pinterest.
Understanding how Pinners engage with content helps marketers to revise or refresh content which directly impacts their marketing on Pinterest.
For example, on Pinterest, ad views play a critical role in the purchase journey and aren’t measured by many analytics tools.
The Pinterest tag captures views across consumer sessions, browsers, and devices. This is extremely important because 95% of conversions captured by the Pinterest tag are based on views.
As a visual platform, views can translate into many different actions by an audience. Engagement can range from a simple view to a Pin click, to saves to click-throughs to a website and conversions.
While all aspects of data measurement are important, there are key analytics you’ll want to pay close attention to when analyzing your movement on Pinterest.
With 83% of Pinners making a purchase based on the content they saw on Pinterest, the more you understand what’s working with your content, the more likely you’ll be able to take those customer engagements on Pinterest and turn them into sales.
Measuring ROI with Pinterest Analytics for Organic Marketing:
Impressions:
What It Measures: The number of times one of your Pins shows up on a user's screen.
Why It’s Important: High Pin impression rates signify that your content is on-trend or worked well with the Pinterest algorithm.
Pin Clicks:
What It Measures: represents when people click on your Pin to learn more or the total number of clicks on your Pin.
Why It’s Important:
It allows marketers to understand whether their content is resonating with their target audience and helps them improve their strategy in both paid and organic marketing on the platform.
Outbound Clicks:
What It Measures: These are the number of times a consumer clicked off your content on Pinterest and landed on the destination URL.
Why It’s Important: This allows brands to gauge how actionable their content is on Pinterest and make optimization decisions accordingly.
Saves and Save Rates:
What it Measures: Saves are a sign of intent. They are the number of times a Pinner saves your Pins on Pinterest. Save rates are simply the percentage of saves over a period of time.
Why It’s Important:
These numbers play a significant role in defining user intent on the platform and are used in determining how your content is distributed across the feed. The algorithm pays close attention to saved content as it signals what content is resonating with users.
Measuring ROI with Pinterest Analytics for Paid Marketing:
Pinterest is where people go for inspiration but, just as important, it’s where they go to buy.
In fact, brands who advertise with Pinterest are seeing a 2x higher return on ad spend than other social media platforms.
Point blank, if your brand isn’t advertising on Pinterest, now is the time to start. Grab this Pinterest Checklist to help you get started and then move to establish measurable KPIs with these key metrics below.
Choosing which analytics to measure ROI in paid marketing campaigns on Pinterest is dependent upon the overall goals of each company.
Thankfully, Pinterest makes ROI easy.
In the ads manager feature, companies can easily create their own performance tables to measure their individual success and create a further strategy on Pinterest.
Below we break down a few of those key metrics that are a must for marketing campaign goals. Review and select the data points that reflect your individual marketing needs on Pinterest and create KPIs based on what your company wants to achieve in the realm of ROI.
CTR (Click Through Rate):
What it measures: Click-through rate is the number of impressions (times people saw your Pin) divided by how many times they clicked on it. Typically a CTR rate from .55% to .77% is a good
starting point.
Why It’s Important: A low or high CTR tells advertisers that their content is being seen on Pinterest and is actionable. A high CTR, therefore, indicates that your target audience is
ROAS (Return on Ad Spend):
What It Measures:
How much revenue is earned for each dollar spent on advertising
Why It’s Important: setting a realistic ROAS for your brand at the start of your campaign is an essential part of measuring your ROI.
CPC: Cost per Click
What It Measures:
Average cost per result on your ads.
Why It’s Important: On average This metric
CPA (Cost Per Acquisition):
What It Measures: How much your business is spending to complete a checkout
Why It’s Important:
Advertisers use CPA to determine how much it costs to acquire a purchase on Pinterest
Add to Carts:
What It Measures: The number of times people added your products to their carts (these are not purchases) after seeing your Pins
Why It’s Important: Using this metric advertisers can further their ad campaign strategy to capture those consumers who aren’t purchasing with a retargeting campaign.
Checkouts:
What It Measures: Number of purchases stemming from your Pins and Ads
Why It’s Important: Monitoring checkouts helps advertisers measure the overall success of their ads in driving purchases.
Revenue:
What It Measures: Total revenue influenced by your Pins and ads
Why It’s Important: Measuring your overall ROI, and revenue helps advertisers to adjust ad strategy and budget as they continue to advertise on Pinterest
Developing A Strategy that Works For YOUR Brand on Pinterest
Now that you have a solid understanding of how to measure ROI on Pinterest, you might be wondering how to ensure that you develop the best strategy and overall growth marketing plan for your brand.
Sunlight Digital simplifies Pinterest marketing with an individualized approach for businesses looking to build their brand long term.
Start leveraging Pinterest as well as other paid social platforms with Sunlight Digital: Schedule in your call right here.
