Far from simply an assortment of wedding pictures, makeup images or inspirational quotes, Pinterest is positioning itself as an ecommerce platform you can’t ignore – and the figures add up. If your social media strategy doesn’t currently include this platform, read on for the reasons why you should take an interest in Pinterest.
Figures released from Pinterest earlier this year showed over 2 million users pin products every day, with the average pin repinned 11 times. With over 100 million monthly users globally and an average sales value of $50, Pinterest is fast emerging as an ecommerce platform that allows retailers to showcase their products right at the point of discovery. And through a simple transactional framework, customers can go from “browse” to “buy” in just a few clicks.
Shop on your own terms
Since Shopping with Pinterest is linked to a user’s account, the cart is regenerated across devices – so a potential consumer can add items from the desktop, phone, iPad or laptop over days or weeks, then checkout (on any device) whenever they like. No need for search history or bookmarking pages – just one simple cart linked to their personal account.
Pinterest for inspiration
This is, in essence, the Pinterest point of difference. Consumers use Pinterest to explore, discover and research their purchases – far more so than on other platforms. Ninety-three percent of Pinterest users said they used the platform to plan their purchases and 87% convert to purchase. And mobile is hot – orders on mobile devices increased 140% in the last two years, and mobile orders from non-US countries increased 130% from 2013 to 2014.
Shopping with Pinterest
While retailers are fine-tuning their use of Pinterest as an ecommerce tool, the platform itself is investing heavily in technology to support ecommerce search and sales. The June 2016 launch of Shopping with Pinterest included commerce and visual search tools to allow shoppers to add multiple items across multiple merchants to cart. In August, a series of advertising tools enabled retailers to market to consumers and potential shoppers through customer-list targeting, retargeting and lookalike targeting to broaden the pool of potential customers by matching behavioural traits from existing customers.
How can you harness the potential of Pinterest?
As the platform evolves, segmentation and analytics continue to improve, allowing retailers to optimise marketing activity. How can you harness the purchase potential of Pinterest? Follow BillPro’s top five tips:
1. Brand your boards – Pinterest is a highly visual medium. Ensure your boards are clearly understood, strongly branded and aesthetically appealing.
2. Add the Pin It button to your product pages of your site and blog posts to encourage uses to act.
3. Buy pins – invest in buyable pins, where users can purchase an item from a Pin with a click of a button.
4. Segment – apply Pinterest’s targeting features to engage new, previous and potential customers. (While Pinterest’s audience is overwhelmingly female, user growth amongst males is on the increase.)
5. Measure – as with every marketing initiative – review, evaluate, analyse and optimise your Pinterest activity with the in-platform metrics to ensure you’re optimising your return on investment.
When developing your digital commerce strategy for 2017, consider adding Pinterest to your artillery. A strong brand presence in the channels your customers use daily to seek new products and inspiration could be a powerful tool to drive additional sales.