Retailers Hoping to Get Pinned on Social Media Site

Pinterest is the latest in social networking. It's drawing a lot of media attention and is attracting a lot of registrations. The question is, will it stick? Will consumers continue to visit the site after the novelty has worn off?

Retailers who block Pinterest clipping are only hurting themselves. Why would they not want images of their products shared with others? Pinterest reinforces the visual nature of the Internet. Images sell.

Let's revisit Pinterest a year from now to see if the site has continued its phenomenal growth and discover how retailers and brands are using it to communicate with consumers and close sales.

Max Goldberg, Founding Partner, The Radical Clarity Group

Pinterest is not technically "social" (if you define social as "friends" and "acquaintances"). Pinterest is based on interest. In other words, instead of trying to build a social graph, Pinterest is building an interest graph. This is MUCH more appealing to marketers because frankly, "friendship" (and in the case of Facebook friends a very diluted notion of "friendship") only goes so far in shaping your decisions. However, if you are into wood-working and a couple of fellows you follow obviously know a lot about wood working, you are much more likely to listen to their product recommendations. "Friends"-based social networks a la Facebook are on the decline because they are great at planning a neighborhood BBQ and sharing photos with your niece overseas (and by the way, that is all the site was designed to do originally...) but not much else. Meet social connections based on interests.

Bold prediction of the day ... Facebook will continue to exist but will most likely become a shadow of its former self in a few years.

Fabien Tiburce, President, Compliantia, Field Audits & Task Management

I like the idea of being able to link to a retail purchase opportunity from a friend's or like-minded person's Pinterest board. I posted about that yesterday, actually. I'm not certain retailers who are just glomming on to the trend by posting their own Pinterest boards will get much interest from consumers -- unless -- a retail designer or even a store merchandising exec has a point-of-view on something, for instance, prom dresses, and can develop a style board combined with personality and a means for engagement. I can see a retailer like Anthropologie being way more successful with this than GAP. Just saying.

The key in my opinion, is Pinterest figuring out a way to have consumer boards linked to "click and buy," which I'm guessing retailers will be happy to pay for. Just ask Amazon if they might be willing to enable that option.

Anne Howe, Founder, Anne Howe Associates

It may be a retailer's newest friend, but I'm not so sure about the "best" part. Just how much social networking can one tired, barely recovering economy support? Who are these people that have nothing better to do with their time than join an ever expanding network of networks?

Seriously -- what does Pinterest do for a consumer they couldn't do themselves on an alternative network?

The bottom line is that the viability of a network rests less on its uniqueness and more on the number of people who can be persuaded to participate and -- as MySpace showed us -- continue to participate. So, the right answer ... and maybe the only answer ... is, "Time will tell."

Ryan Mathews, Founder, ceo, Black Monk Consulting

I am not sure what the big deal is here. Is Pinterest supposed to be a referral site? And, if it is, who is it aimed to ... women? And, if it is, why would they not go directly to the source? I do not see any social media relevance to this.

Ed Rosenbaum, CEO, The Customer Service Rainmaker, Rainmaker Solutions

Well if GAP is doing it, it must be successful. I would suggest if retailers are closing F-commerce, Pinterest has a long way to go from being the shiny object of the hour.

Bob Phibbs, President/CEO, The Retail Doctor & Associates

I am researching it right now, and will let you know later what I think. A friend recommended it to me last week. It looks real interesting.

Tony Orlando, Owner, Tony O's Supermarket & Catering

This site leverages a specific aspect of shopping: The need to spend time actually thinking about what the shopper wants, as opposed to just shopping for and making the purchase. There is definitely a significant group of shoppers, which may or may not be largely comprised of women (why couldn't DIY stores do this targeting men?). This is another channel for shoppers to drive to an eventual purchase transaction. I think retailers should get every drop of value they can while it exists, and then move on to the next big thing.

Ralph Jacobson, Global Consumer Products Industry Marketing Executive, IBM

"...the black hole time suck that it is...." I think I like Ms. Dvorak! Seriously though, I think the problem with this (or most any other) site is simply overload; there are just too many items to pay attention to. That and the fallout when advertisers realize that people who spend all day on the 'net "connecting" are often junior high schoolers who don't really buy much.

'notcom'

Pinterest is less about "Social" and more about "User Generated Content."

It's a low friction, highly addictive way to get shoppers to interact with your products and allow the endowment effect to sink in as you start to feel ownership for those items you pin.

Don't forget to check out my boards for my favorite travel tools and my favorite shopper marketing books!

Jason Goldberg, VP Strategy & Customer Experience, CrossView, Inc.

I wouldn't say Pinterest is a retailer's new best friend, but for businesses selling visually appealing products (obviously food and fashion are most enjoying the spoils of this surging social network) it's certainly a novel opportunity for brand and product recognition.

The key here is for retailers to find a way to make their merchandise attractive and worthy of being "pinned." From there, the potential for it to go viral rests in the hands of Pinterest users.

I would agree with Anne Howe's comment: Once "click to buy" functionality is added to Pinterest, THEN it will become retailers' newest and best friend.

Christopher Krywulak, President and CEO, iQmetrix