Pinterest Success in 2012

I have been seeing bloggers refer to “pinning” images on Pinterest for a year or more and just recently I finally got an account started. Pinterest required linking to my FB profile which was a dealbreaker, but I deleted the app and unlinked it afterwards. I was curious as to why Pinterest was different than other mood board sites (polyvore) I had seen that didn’t really impress me. At the same time I have been reading more about how Pinterest drives more traffic to retailer sites than Google Images, how women are the primary audience and why Pinterest traffic has taken off like a space rocket.

My take on the site as a web analyst, a woman and a user of the site may be different than the media’s perceptions. I concentrate on the behaviors and uses of the site and have listed my opinons on their growth/success here:

Some reasons I think Pinterest has been a growing site:

1. Images do say more than a 1000 words – They can make you feel hopeful, creative, inspired and motivated. Great images move people. That is why good photography is both art and marketing at the same time. (think Flickr/Instagram) What happens when you want to see that powerful/inspiring image again? Do you bookmark it? With your other 1,000 bookmarks? Blogging it has been better, but not everyone wants to blog and some people frown on hotlinking in your posts although that is what Pinterest uses. Flickr has been great with it’s searchable favorites image list, but not everyone likes Flickr like I do. Some people just want to link other people’s photos and not upload their own. Facebook is ok if you want to blast your friends with all the images you save/share about your home remodel project and make everything archived by the borg, but I really think image saving/sharing is out of context on your personal branding page. Capturing and sharing this image information has had a tricky history and Pinterest solved a problem we didn’t know we had.

2. People are busy and ideas are fleeting – Maybe this is the ADHD generation? I am a GenXer. I have way too much to do, a reasonable income and a very short attention span. I have a hard time keeping track of things that aren’t completely essential and ideas are on that list. In a personal example: With my process of moving around a lot in the last few years, my confidence in the house decorating department was a bit threatened from being a bit out of practice. I have made up for it with a huge file of images saved on my computer from design blogs. It was an old school solution to needing a place to look for ideas from images I already filtered and liked. Did it create solutions for my house? Yep, several rooms in the new house have been redone based on color pallettes from those photos. But in a day I may only see 1-3 photos I like from 50+ interior design blogs. In a year that is a lot to comb through and it isn’t share-able offline nor is it accessible from anywhere. So, Pinterest has recently proved more accessible and more shareable for keeping these images. Plus it is free for now. I could see them evolving into suggesting ad based photos by retailers based on your tags/likes/pins in the future.

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3. Trends/Decisions are easier to analyze when you have all the information from multiple sources in one place. I find it difficult to make buying decisions in this day and age because in most every category there are too many brands, products, colors, choices, prices and options to keep straight. (information overload) Making a pinning board for new shoes you are considering buying takes a lot less time than going to the 5 stores in your area and trying to decide that way or ordering online from Zappos and having to return them all. Plus you can save that pic of that shoe you love but don’t need right now for later. Side by side lists and comparisons make shopping a little easier, but in most cases these wishlists really work on selling to you and others. Someone recommends something, you loooove it, click-click-bought. That isn’t really a bad consumer strategy. I have found that if I ever pass on an item and want to look it up to buy later, it is impossible/gone  with how short the merch time is in stores (online and off) and how styles change so vastly that it may never be seen again. (yet the things you’re never very thrilled with seem to pop up again and again in many different stores). Items/Pictures that are popular on Pinterest may have more staying/selling power due to the large audience or they may be more trendy when people move on to the next micro trend. I am not sure yet because there is a lot of churn in products these days, some people consuming constantly, others stopping completely.

4. Like TED some ideas are worth sharing. I enjoy seeing what my friends have discovered and pinned. It tells me what they are into, what is new, what really good ideas/recipes they want to share and hopefully some of those ideas are good for me too. I have found some interesting clever solutions for household annoyances this way. True, this may just mirror the offline world where women would share tips on household stuff while chatting in the yard, but it makes sense for other subject matter/industries too as long as there aren’t proprietary info in the photos and there is a collective community sharing information. This could be a marketing strategy if you have real solutions your product offers and the story can be told in an image that looks real.

5. The biggest reason? Discovery is a process that a lot of us get a big burst of happy from. It doesn’t matter if it is online discovering photos, reading a magzine, watching a TV show, taking a vacation or creating something like artwork or crafts. Many of us have jobs that are pretty specialized and we do a short list of things for the company and don’t have a lot of variety or creativity in our daily lives. I have found that I need some form of creativity (writing, photography, art, dance, design) in order to be happy and I have a feeling that this may be the case for others too. Even the simulation of creativity by discovering and learning from photos of how to keep wrapping paper on the roll with a sliced toilet paper core haves us that Aha moment and makes us feel happier, smarter & more connected. All this in an easy to use format and without requiring much reading for the ADHD generations.

6. Another reason it may be growing is that Pinterest is very accessible on iPads which can go anywhere in the home when you have time to look at it. (the app is just fair, I prefer the full site in the browser on an iPad) It is a guilty pleasure just like celeb blogs on some level. I think mobile/tablet use is making the site more addictive although probably not the main reason for it’s success. Now that retailers (Etsy) has added pin it button to their listings pages I hope more retailers do this to help promote their products. One thing is clear though, it will take 500+ views and likes before you find someone ready to buy, and you will probably have to have some familiarity/trust built with them first. Most people do a lot of window shopping/dreaming on the site, a lot more than buying. But that is part of marketing, getting the word out in the first place, or as some say, creating the need. A large enough audience may just be able to significantly impact sales too.

7. The more I think about it there are more reasons that this site works well and attracts people so quickly. An element of new sites that often works well is keeping the interface simple and the navigation self explanitory. (especially with people who don’t have a lot of time or patience) In this case the content/images take center stage and the navigation/functionality is uber simple and almost in the background. If/when they would like to expand on it they can build more complexity over time and teach the audience along the path to more features just as/or before they get bored with the current ones. Facebook has done this pretty well and has been able to innovate its way ahead of many other sites.

Any other reasons you think Pinterest is growing so quickly?

Government Income Taxes in History

income tax brackets rates through history united states usa

income tax brackets rates through history united states USA

(click graph to see full size version) I was just looking at this really interesting infographic of the income tax rates for the United States over the last century or so. It is an interesting graph because it makes it very clear that the wealthiest people are paying the lowest taxes by percentage of any time in our country’s history. By contrast the low and middle class are paying the most they’re paid or close to the most. 

I’m not sure how the government got away with a 90% tax rate in any time period, but it sure looks like they did. As much as I think the wealthiest people need to pay more again, nobody deserves that.  It makes the 5-10% increase in taxes we need on the wealthy people making over 1 million a year now seem paltry and insignificant. 

According to the graph the yellow areas say that in the 50’s and 60’s if you made more than $10 million you gave 90% of it to the Government. Wow. (9 million?) That doesn’t really seem plausible although they tell a story about boxing matches being held only yearly for this reason. There has to be something between 90% and 35% though because these people are the cash cows of our country/economy and are the only ones that can actually pay for the fancy jet security and government health care. 

Also I found it interesting that in the early 90’s people making less than 10K had to go from 0% tax to 15%? That is a big loss for the part-time workers of the country and it happened just in time for me to start working at my first job. Someone making 9K would lose $1350 to taxes, a huge sum for someone who may be just scraping by. Previously in history this tax bracket was taxes between 10-20%, so it has been higher, but the logic seems difficult that the people who make the least are losing the least also. Maybe if more government programs like healthcare actually give back to this income bracket this will be a more justified expense.  

I am also surprised looking at the top income bracket at 50% through the 1980’s and it re-frames how to think about Ronald Regan’s presidency (known for cutting taxes), but seeing that he got a larger percentage of paychecks to finance things with during a time of de-regulation and government cuts, no-wonder he was able to make things work. I doubt he would have believed that the tax rates should go as low as they are today though seeing how much government is expected to provide. 

Seeing over time how high these income tax rates have been in order for the country to survive and knowing what people expect from government right now (more services), I think we will have to return to the previous income tax rates and raise business tax rates at the same time to make up the difference even in a good economy. We have a huge budget deficit, increasing costs and government loans that are ballooning (bonds that are declining in value). Things aren’t looking good. It’s all our civic duty to pay taxes and the country can’t survive without it.