Thursday, March 31, 2016

Make it easy for people to buy your stuff.



That is, word for word, the tag line for Product Pins on the Pinterest business help page. This is how Pinterest drives eCommerce sales. Product pins include real time pricing, availability, and where the shopper can purchase the item.  Product pins are part of a family of six rich pins that Pinterest has created to help businesses include more information about the pinned images.  Rounding out the suite of rich pins are:

App Pins: Help People Get Your App
  • includes an install button so pinners can download your app without ever leaving Pinterest
  • currently only available with iOS apps

Place Pins: Take Travelers to their next adventure
  • include maps, addresses, and phone numbers
Article Pins: Help Pinners Create Their Reading Lists
  • include headlines, authors, story descriptions
  • helps Pinners find and save stories that matter to them
Recipe Pins: Teach Foodies To Make Recipes From Your Site
  • include ingredients, cooking times, and serving info
Movie Pins: Show Film Buffs Their Favorite Movies
  • include ratings, cast members, and reviews

Rich pins stand out when pinners are using Pinterest.  Increased sales can be achieved by having store links to the product itself versus the user doing a separate internet search for the item they just saw on Pinterest.  This is big business for retailers.  
  • In May 2012, Shopify did a study that showed an average sales order of $80 from Pinterest referral traffic, compared to $40 from Facebook referral traffic. Pins with prices were also 16% more likely to get likes than those without.
  • In February 2013, Sephora found that Pinterest users spent 15 times more than Facebook users.
  • In February 2013, Business Insider noted that Pinterest now has 25 million users, many of whom are wealthy young females who love to shop.
It is interesting to note that this research was done prior to rich pins being rolled out by Pinterest. The monetization will only increase for retailers as a result of the rich pins being implemented.

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