Happy birthday month to Pinterest! The digital scrapbook is only turning five years old and is already second — behind Facebook — in providing social referrals to websites. But those shoppers referred from Pinterest spend twice as much as those coming from Facebook. Plus, they’re 10% more likely to make a purchase. Talk about quality over quantity.
Pinterest should, if not already, be an integral part of your e-commerce strategy.
The site’s visual nature can help you provide detailed images to buyers, share products and information, draw buyers to your website and ultimately increase sales. It’s an ideal fit for brands and retailers looking to boost product visibility and purchases.
Because of its relatively young age, Pinterest is still expanding at a considerable rate. Below are three innovative Pinterest features to have on your radar.
Price notifications are a recent practical addition to the social network. Users who pin a Rich Pin — pins that are available to business accounts and include extra information like a title, price and availability — that is later reduced in price will receive a notification alerting them to the price drop. This is a unique way to notify shoppers about price changes and to interact with potential customers. Because both Rich Pins and Pinterest business accounts are free of charge, we strongly recommend trying them out.
Currently a reservation-only program for US-based businesses, Promoted Pins are Pinterest’s foray into advertising. Retailers can promote specific pins to targeted audiences so that they show up in relevant search results and in users’ home feeds. You’ll be charged when people click through to your site.
Pinterest has been testing the program in beta, and the company reports that advertisers experienced about a 30% increase in earned media from their Promoted Pins campaigns.
Pinterest is following in the footsteps of Facebook and Twitter by adding a Buy button, which allows users to order and pay for products without leaving the social network’s website or app. Essentially, it’s a tool to reduce the steps in a consumer’s path to purchase
Even though Pinterest is entering the social commerce game late, it has an advantage over Facebook and Twitter because its users are already coming to the site for product ideas and inspiration. When the act of pinning occurs, people are signaling some interest — if not clear purchase intent.
Over the past five years the social giant has proven itself to be a big player in e-commerce. Think about it — 70 million active users are searching, sharing and “pinning” images of products. As Pinterest continues its rapid growth, more consumers will continue to trust the network to recommend quality products. This social channel is an ideal match for online retailers.
To better understand the pinning sensation and for tips on developing a strong presence on Pinterest, download this free eBook.
Blog post by Jordan Nowlin, social media and blog manager, ChannelAdvisor