With 70 million monthly U.S. users, Pinterest has grown larger than rival Twitter, which has only 66 million. The company expects revenue to triple to $300 million this year, while Twitter struggles to find a buyer amid dwindling growth.
Why is Pinterest more successful? In contrast to Twitter, which hasn’t quite figured out what it is, Pinterest serves a clear purpose: letting users garner creative inspiration. They can also shop – illustrating why the platform is not only more advantageous for consumers, but also for brands. Pinterest accounts for 17% of social traffic to Retail brand sites, while Twitter only generates 5%, according to L2’s Social Platforms report.
Retailers can go beyond promotion to engage in social commerce, taking advantage of features such as buyable pins and e-tailer integration. Nearly three-quarters of users have bought a product they saw on Pinterest, testifying to the platform’s effectiveness in conducting consumers through the purchase funnel. In response, retail brands including Target are increasing their investments in Pinterest ads.
“The consumer’s intent to buy is much more intense on Pinterest than other platforms,” Target’s senior vice president of marketing Kristi Argyilan told The Wall Street Journal.