Pinterest’s Future & What That Means for Brandsby Anvil on January 20, 2017Pinterest
The stats don’t lie; Pinterest is becoming so big it is almost impossible to ignore the advertising (and organic) benefits it can have for your company not just on social media, but in organic search as well.
- 150 million users are active on Pinterest as of October 2016, which is a 50% increase year over year.
- 40% of the new sign-ups are men.
- 67% of users say video on Pinterest inspires them to take action.
Combine this with 75 billion pins and the 2 million people who are pinning products every day, and you can see why “the world’s catalog of ideas” has evolved into a powerful e-commerce platform. Take it from the Wall Street Journal who recently said:
Shopping Integration and Ecommerce Benefits
One of the main reasons why Pinterest is becoming the new social media giant is how easy it is to shop on their platform without ever having to leave.
- Amazon-Style Shopping Cart: People can add items to a shopping cart on Pinterest’s website and mobile apps. Users can then easily buy multiple products from different merchants at once. Convenience is only just the beginning.
- Integration with Shopify- Every product found on your Shopify store is now enabled for Buyable Pins. You don’t have to pay a dime for listing or selling your product on Pinterest.
- Save button- The newly named “Save” button, formerly named “Pin It” lets users Pin products and gives them more of a chance to convert and buy that product at a later time.
According to a recent survey by Business Insider UK, 55% of people said Pinterest is the most popular network for shoppers. It also has one of the highest conversion rates. In December 2015, more than one million businesses had already signed up for the visual network, and that number has likely grown significantly over the past year.
The main reason it’s so popular with businesses is also what makes Pinterest unique among social networks: 93% of Pinners use Pinterest to plan or make a purchase, and 83% of active Pinterest users said they purchased something because they were on the site (not necessarily through Pinterest). It is also one of the largest sources of social referrals in the world and at 55%, which is not something to ignore.
Pinterest Video, Rich Pins:
Video Ads, Interactive Pins, and Rich Pins on Pinterest all help brands engage with consumers and are a great way to give users more information than normal Pins. Pinterest has been working a lot on improving its ad options for brands, and now we are thankful that our clients and businesses now have a range of options to promote their products or services on the site providing great conversion AND engagement rates.
- In August 2016, Pinterest has launched Promoted Videos. Pinterest shows relevant Pins of the brand beneath the video to give users a chance to make a purchase after watching a video with the product in it. Easy right?
- Rich Pins are becoming the new way for businesses to give out more information in one pin. Rich Pins can provide prices, and any vendor information they wish to portray. Think recipes, how-tos, fashion and more.
- One-Tap Pins- Tapping or clicking on a Pin usually leads you to a full-screen version. Only clicking again will take you to the original source of the content. With One-Tap Pins, marketers can avoid that in-between step and lead customers directly to a landing page or other piece of content.
Pinterest has done an amazing job in improving its ad options for businesses in 2016 and giving them a much wider range to promote their services and products. Pinterest can help companies with awareness, intent, and action through the new all the new features. They are continuing to tweak and come out with new ways to promote and sell products for your business. With these new features, it is hard for businesses to ignore the fact that Pinterest is the new social media giant in the advertising world for 2017. Contact Anvil for more information or to see if Pinterest is a platform your business should consider.