What the New Pinterest Ecommerce Platform Means for Businesses | Koeppel Direct

What the New Pinterest Ecommerce Platform Means for Businesses

What the new Pinterest ecommerce platform means for businesses
 

In April, Pinterest announced new features to enhance online shopping and tools that assist brands in selling their products on their platform.

Introducing the all-new Pinterest Shop Button

One of those new tools is a more robust Shop Button, which now appears on user boards next to items or collections on your boards. The Shop Button “will provide buyable product recommendations based on the Pins you’ve added to your collection,” according to the social media network.

Pinterest allows brands to submit their products to be available for this enhanced shopping experience, or entire boards and categories can be pulled from your optimized brand boards. Pricing and sales copy can be added or tweaked dynamically to be pushed out to all Pinterest users who have pinned your products.

Verified Merchant Program from Pinterest

Pinterest also launched the Verified Merchant program, which allows qualifying brands to earn a blue checkmark. This program will give brands another visible way to legitimize their presence on the Pinterest platform.

These new shopping tools come at the right time. During these times when people are inside and online more than ever, Pinterest has reported a huge increase in traffic. According to Pinterest, in the first two weeks of April, searches for home office decor and items, as well as gifts, increased by 300 percent.

Expansion of Pinterest Partners

For enterprise-level corporations and larger brands, the default Pinterest Ads Manager is not sufficient. That’s why Pinterest created its Partners program several years ago, to assist brands who want to leverage the platform.

Pinterest Partners offer assistance in six areas: Advertising, Shopping, Content marketing, Creative, Audiences, and Measurement. More than forty tools and partners are available to assist companies in planning, implementation, and campaign reporting and analysis. Key elements are e-commerce partners like WooCommerce, which has assisted millions of websites to extend their products to social media platforms. Early in 2020, Pinterest announced the extension of this program to assist more businesses with expanded services, like dashboard integration.

Facts About Pinterest

  • Launched in 2010
  • As of December 2019, Pinterest has 300 million active users
  • Pinterest users have pinned more than 200 billion items
  • One-half of all pins are from businesses, and ⅓ of all pins are shared from a business account
  • 93 percent of Pinterest users are planning their next purchases on their Pinterest boards, according to e-commerce website Shopify.
  • Pinterest users who are active weekly are three times as likely to click through to a retailer’s website from Pinterest than from other social media platforms. Users trust Pinterest more than Facebook, Instagram, and Twitter when it comes to e-commerce.
  • According to Pinterest, 83 percent of their users have made a purchase based on a pin by a brand.

Pinterest Users Spend More Money Online

What is the biggest difference between Pinterest and other social media users? Active Pinterest users spend more money online. According to a study commissioned by Pinterest, their users spend 1.6 times more money online annually.

It makes sense if you think about it. Pinterest users love to build boards around home improvement, interior design, landscaping, and fashion. They like to sift through collections of tools or makeup, for example. Because Pinterest users are more active in the construction of their world on Pinterest, they are more invested, and trust brands and products they encounter. In contrast, Facebook fosters more of a community of “following” and reacting to others.

Adding Pinterest to your Digital Marketing Campaign

If you’re ready to dive into Pinterest marketing or if you aren’t sure whether you should, Koeppel Direct can help. Our Social Media Marketing team is poised to get your brand onto the Pinterest platform and expand your reach to potential customers.

Contact a Koeppel Direct >

 

 

 

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