Pinterest is a popular social curation site where users can ‘pin’ images and videos from across the web to their boards, arranging and curating boards to suit their unique interests and hobbies. Unsurprisingly, retailers are increasingly interested in getting their products and brand into user boards to earn mindshare and incremental sales. Here’s what you need to know about Pinterest when it comes to ecommerce and advertising.
User base of 250 million
125 million in America
81% of users are women
Median age 40
50% of users earn over $50,000 annually
93% of Pinterest users use the platform to plan purchases
2,000,000 people pin product pins daily
The average order value of sales coming from Pinterest is $50 – higher than any other major social platform
A product discovery powerhouse
As the stats show, Pinterest attracts a specific demographic moreso than sites like Twitter or Facebook. It’s also significantly smaller than either, but because of its focus on imagery it naturally attracts brands for similar reasons to Instagram, as their products fit the purpose and format of the site. Users of the site also use it as a way to discover products and services that are relevant to their interests – for example creating an outfit inspiration board.
Organic community building
Brands can create virtual storefronts through their profiles on Pinterest. Curating ‘boards’ (titled collections of pins) allows brands to package up different flavours of content. This is useful to prevent the appearance of being too sale-oriented, which can quickly turn off customers.
We’ve spoken previously about the importance of engaging with customers based on shared interests through social, and Pinterest is no exception. Whether that means tying in product posts with references to contemporary culture or creating “lifestyle” type content which doesn’t directly involve the brand or products but appeals to the audience, it’s essential to tailor the images and videos posted to the specific demographics of your audience, not just the generic platform demographics.
The point of all of this is that perhaps the biggest opportunity of social media is to create a sense of community between customers and brands, moreso than to drive incremental sales directly from social (though this is certainly valuable too as these channels become more commercialised.) By engaging with interest groups and adding value through relevant and useful content, brands can earn the trust and mindshare of customers without paying a penny.
Pinterest offers businesses the opportunity to tag up their content with metadata – that’s information like product titles, descriptions, product page URL, price, and availability – which when the content is then pinned, is displayed live in Pinterest.
This adds a shoppable element directly from Pinterest to the purchase page, which could be why average order value from Pinterest is higher than any other social platform.
In addition to purchasable pins, retailers and brands with marketing budgets to play with can promote individual pins, similar to Twitter’s promoted tweets advertising campaign, and pay based on engagement or clickthrough to site. This can be used both for brand-building and to earn incremental sales.