Not sure if your brand is getting an audience on Pinterest?
New figures from the visual social network suggest that this is easier than ever as monthly average users (MAUs) worldwide have increased 37%.
Although US Pinterest users grew more slowly than international audiences, Americans remain the primary source of Pinterest revenue and a gold mine for marketers to reach and inspire new audiences.
Pinterest reported $ 582 million in revenue from the U.S. in the fourth quarter of 2020 and another $ 123 million worldwide.
With growth in each quarter, Pinterest grew its revenue from just over $ 1 billion in 2019 to $ 1.69 billion in 2020.
Pinterest's popularity now competes with TikTok & Snapchat
Pinterest has done well since the platform was released on April 18, 2019, closing the fourth quarter of 2020 with 98 million U.S. MAUs.
This corresponds to a growth rate of 46% internationally and 11% in the USA compared to the previous year.
This active user volume puts Pinterest in the same popularity section as TikTok, which reportedly had around 100 million users as of August 2020.
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Similarly, Snapchat was reported to have 108 million US users as of January 2021.
Aside from a slight slip in the second quarter of 2018, Pinterest's US membership has grown steadily since 2016.
If you're planning your own marketing strategy or looking for effective channels for customers, Pinterest is the place for you with TikTok and Snapchat.
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But who are you going to connect with on Pinterest?
GenZ and Millennials are driving Pinterest's growth
Women were the main audience that Pinterest welcomed when the platform first launched, and they still make up 60% of the global platform's users. However, in a post dated July 31 last year, the company stated:
"Gen Z and Millennials are driving a lot of our growth, and the number of men on Pinterest is increasing by nearly 50% every year."
Last October, the platform also stated the following:
"Pinners engaged in retail space on Pinterest have grown by over 85% in the past six months."
According to Pinterest, Gen Z winners are promoting the popularity of beauty trends like "indie beauty" and "rainbrows".
Millennials have now joined the "more doors" trend as they found new ways to optimize their footprint at home.
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If you want to connect with foodies, target Gen X Pinners with your Sponsored Pins. This is the activity of the audience on searches like "Epic Sausages", "You're the Top Chef", and "Bland is Forbidden".
You can also find Boomer on Pinterest. The platform says this is the demographic behind searches for "Nomad Normal" and "Getaway Car" to avoid being locked down by a pandemic.
Pinterest continues to expand its offering, including updating its boards and introducing additional merchant tools to improve discoverability and help businesses get prospects above the conversion line.
If you haven't experimented with Pinterest before, maybe it is time to start.