If you’re looking to drive more traffic and sales to your eCommerce site, Pinterest is one of the social networks you need to add to your marketing arsenal. Pinterest the second highest source of traffic for Shopify sites, while the average order value for sales referred through Pinterest is $50, which is higher than any other social network.
People like to pin products on Pinterest and plan purchases. When used properly, your eCommerce site can generate significant revenue with Pinterest.
Pinterest took one step closer to bridging the gap between “want” and “have” last week with the release of Buyable Pins, a feature that allows consumers to purchase goods directly within the app. Similarly, Instagram announced three new “action-oriented” buttons – Shop Now, Install Now, and Sign Up – allowing consumers to engage more directly with brands and giving advertisers greater control over audience targeting.
In the 2017 Mary Meeker Internet Trends Report, Pinterest was highlighted as a key platform for driving purchase behavior, with research showing that users come to Pinterest with more than 4x higher purchase intent than other social networks.
At first glance that seems surprising, but such findings have been supported by additional reports – in 2016, research firm Millward Brown found that 93% of Pinners have used Pinterest to plan for or make purchases and 52% have seen something on Pinterest and made a purchase online.
While Facebook continues to evolve social more generally, and Snapchat captures attention with its innovative visual tools, I do enjoy seeing how Pinterest is blazing its own path and developing unique products on their own accord.
Once not much more than a digital pin board application, Pinterest has evolved significantly in recent times – you might not necessarily be as aware of Pinterest’s development as you are of the other big platforms, but the changes are significant, and bear relevance for a great many brands looking to best utilize social and generate best returns.
As part of their ongoing effort to improve the business value of the platform, Pinterest is adding Pin-specific stats to each Pin, making the data easier to access and analyze – and action, in the case of switching to a Promoted Pin.
As explained by Pinterest:
“Now, when you visit your Pinterest for Business profile, you’ll find a new stats icon on each of your Pins. This gives you (and only you) a preview of that Pin’s total engagements. Trying to understand how much interest people are showing in your Pin? Use this feature to quickly scan your Pins and see which is getting the most action.”
Pinterest is limiting its advertisement targeting to two categories as it tries to capitalize on the nearly 50 billion images the site houses. Identifies retailers and packaged-goods makers as core areas.
Image bookmarking service Pinterest Inc. is scaling back the breadth of its advertising ambitions, focusing more on attracting dollars from retailers and consumer packaged-goods companies while de-emphasizing other marketing categories.
Social network Pinterest has given US advertisers a new advertising tool to kick off the New Year. As of January 1st, the Promoted Pins ads first launched in September 2013 and available only to select brand partners in 2014 has been open to all advertisers.
Early Pinterest brand partners including Kraft Foods and General Mills have been testing the Promoted Pins ad format for eight months. Like Promoted Posts on Facebook and Promoted Tweets on Twitter, Pinterest’s paid ad offering is designed to help marketers amplify the exposure of their social content. Marketers will be able to pay to show certain pins at the top of search results and category feeds.
Pinterest probably deserves more attention as a social media marketing option than it receives. I mean, it's not like no one knows about it - the platform now has more than 175 million monthly active users, and is on track to book more than $500 million in ad revenue this year. But did you also know that one in two U.S. Millennials use the platform? That Pinterest reaches 80% of the Millennials who also use Snapchat?
That stat, in particular, stood out in this new infographic which provides an overview of the platform's U.S. audience. The Snapchat reference is important because Snap Inc. just recently raised almost $30 billion after publicly listing, largely based on the fact that it has such huge appeal with that Millennial audience. If Pinterest is not so far off, what does that mean? How much might Pinterest be worth on the free market? And given it's focus on eCommerce and generating revenue through direct selling, could Pinterest actually be worth more than Snapchat in the long run?
On April 1st, Pinterest’s country manager in Japan Naoki Sadakuni got some of the engineering support he’d wanted for a while.
Five team members from Pinterest’s headquarters arrived to the company’s Tokyo office in an experiment the company is running called “Jumpstart.” It’s Pinterest’s first run at shipping a small team from the company’s home base in San Francisco to a remote office, and telling them to basically figure out how to make Pinterest better for that country.