The number of US marketers that use Pinterest continues to steadily rise. eMarketer forecasts that 31.9% of US marketers will use Pinterest in 2018, up from 29.1% in 2017.
Pinterest’s US ad revenues will reach $553.3 million in 2018, according to eMarketer. One way the company has increased advertisers’ interest is by expanding its search capabilities. In February 2018, Pinterest reported that there were 600 million monthly visual searches on its platform, a 140% increase from 250 million a year earlier.
Compared with other social media platforms, Pinterest’s US monthly user base of 77.4 million people is on the smaller side. Among US users, 169.5 million people use Facebook, 104.7 million people use Instagram and 84.8 million people use Snapchat per month.
In the past, one thing that limited Pinterest’s growth is that its audience heavily skewed toward females. But this is changing. In 2018, 21.3% of US Pinterest users were males, up from 7.4% in 2014.
“We’re expecting more than one-third of US marketers to use Pinterest next year, and that milestone is in large part due to the impressive user growth over the past few years,” said Chris Bendtsen, senior forecasting analyst at eMarketer. “The reach of marketers may be lower than other social networks due to stiff competition from Facebook and Instagram, but what sets Pinterest apart is that the audience is further along the customer journey. Users are already there looking for ideas on projects and purchases, and that provides a unique offering for both brand awareness and performance marketing. Advertising on Pinterest is at an earlier stage than competitors, so as the audience continues to grow, so will the number of marketers on the platform.”
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