An international study by Experian uncovers some interesting figures and reveals the massive growth in niché social networks. Pinterest and Instagram have become global winners in this segment. Figures recorded from Singapore in July 2012 shows Instagram grew by a whopping 8,121%, while Pinterest grew by 623% year-on-year. The following table highlights the grow of these two sites between July 2011 and July 2012 in terms of their share of visits to all sites by country.
Instagram allows users to share photographs through social networks, while Pinterest is an online pinboard that allows users to organise and share their interests with others. The meteoric rise has pushed these two into the top 20 social media networks in Singapore, UK and North America.
Bill Tancer, Head of Global Research, Experian, commented, “The growth of both Instagram and Pinterest over the past year has been phenomenal. The reason for their success is that they haven’t tried to be ‘another Facebook’. Instead, they both identified a gap in the market and used the scale of Facebook to reach consumers. Both networks are image based which people love – we all relate better to pictures than just words. For brands that are retailers for example, a site like Pinterest presents a fantastic opportunity to promote products in a compelling and organised way to a wide group of people across the world. Over the next 12 months, we expect to see a proliferation of niche social networks. Offering deeper functionality combined with a lower technical barrier to entry will mean new leaders in social media being created in a matter of days versus weeks and months.”
Here are some more results fro Experian’s study: