Pinterest is a web and mobile application that offers visual discovery, collection, storage, and sharing. Users create and share collections of visual bookmarks, called boards. Boards are created when a user selects an item and pins it to a new or existing board.
Basically, it can be seen as a counterpart to Google, in which users know what they are looking for. Pinterest, however, is all about discovery.
More often, people are using Pinterest to shop. In fact, 70 percent of users use Pinterest for inspiration on what to buy, and 69 percent of consumers claim to have found a product on Pinterest that they bought or were interested in buying. Businesses such as Target, Nordstrom, and Whole Foods are tapping into the visual-oriented social network to promote their brands and drive users to their e-commerce websites.
Target, for instance, launched its Target Awesome Shop, which features the top-trending items on Pinterest and the top reviews on Target.com. When you click on a pin for more information, you are redirected to Target.com, where you can add the item to your shopping cart. As a result, Target has seen a 70 percent increase in traffic from Pinterest to Target.com, according to Target Chief Marketing Officer Jeff Jones.
Quick Tip: Publish high-quality images and use Rich Pins for a higher chance of your post being viewed and shared. There are five types of Rich Pins: product, place, movie, recipe, and article. If you’d like to promote a product, Rich Pins allow you to provide information on pricing, location and availability. Pictures that contain a product’s price have a higher click through rate than those that don’t.
Nordstrom uses Pinterest a little differently. It uses Pinterest to decide which merchandise to feature in stores, with a special red tag on shoes and handbags most popular on the social network.
Whole Foods uses Pinterest boards to capture the company values in areas such as community and the environment, healthy eating and education, and natural and organic foods.
For inspiration, check out How 5 Businesses Are Using Pinterest to Creatively Promote Their Products
Good News For The Holidays
Pinterest has proven to be a major force in holiday retail, helping consumers find products and retailers identify trends and market to the right consumers.
A study of Pinterest users by market research firm Lab42 found that 54 percent spend more time on the site during the holidays and 94 percent say it has changed the way they make their holiday preparations.
Over the 2013 Thanksgiving holiday, Pinterest doubled the revenue sent to retailers on Black Friday. And on Cyber Monday, Pinterest revenue more than tripled.
Marketers and retailers, take note.
How Does Pinterest Compare to Other Social Media
Compared to other social medias, Pinterest generates double the referential traffic than Twitter, Google and LinkedIn combined. This is a great opportunity for marketers and retailers, who have the opportunity to capitalize off the power of visual images.
Pinterest shoppers spend significantly more, averaging $140 – $180 per purchase, compared with $70 – $100 per order on Facebook.
Check out this Pinterest VS Twitter VS Facebook infographic for more information.
Some Key Facts About Pinterest to Consider
- The majority of users (68.2%) are female
- Fifty percent of users have children
- The majority of users (27.4%) are between the ages of 25 and 34
- Annual household income is $100,000+
How are you using Pinterest?