ScreenHunter_04 Feb. 24 22.03Pinterest is immerging as a frontrunner on the social media scene. But what is Pinterest you ask? Essentially a modern-day, online scrapbook for anything and everything from: recipes to photos to clothing to children’s craft ideas. You name it; Pinterest likely has a board for it.

Businesses are starting to utilize Pinterest more and more, as a way in which to reach the demographic that utilizes this database of creative ideas. With Pinterest being the 3rd largest social media site in the US, hailing 14.9 million users (as of July 2012), it’s easy to see why this icon is showing up more readily on most newly updated websites.

A recent study showed that – shoppers who were referred by Pinterest are noted as being 10% more likely to make a purchase than visitors who arrive from other social networks, including Facebook and Twitter. In addition, 80% of the “pins” posted on Pinterest are repined, creating – once again – that viral commodity some businesses are missing out on, simply by not being aware of this bursting and bustling trend.

Contests are just one way of attracting attention on Pinterest. Everyone is interested in winning something – free is, after all, the best price! Not only is a contest an enticing way to have potential customer click on your link, but by creating a contest, it helps your company’s brand engage with consumers in a personal and cost-effective way.

Contests can also help you collect customer information, preferences and feedback. This valuable data can then be put into action to enhance your offerings and acquire more customers.

For some, this “online jargon” might be daunting, but a quick peek into this world and you’ll quickly understand what all the fuss is about!