Facebook, Twitter, LinkedIn and other networks have opened up to advertisers, but whether it's a promoted post, tweet or update, those platforms are typically best for building awareness, not necessarily making the sale. That's not the case with Pinterest.
- 59% of Pinterest users have clicked through to make a purchase
- Nearly 50% of female users have gone on Pinterest to make a purchase based on recommendations, compared to 1/3 of female users on Facebook or Twitter
- 37% of male users have purchased something they've seen on Pinterest
- When Pinterest users buy, they spend around $80 per purchase (double Facebook buyers)
Pinterest is taking steps to capitalize on those stats by bringing users closer to products.
Closer to the Sale
Pinterest has become a reliable tool for users to curate third-party recommendations and then make decisions. They don't have to ask their friends, and they don't have to use Google. They can curate things they like, hold them, evaluate and then move forward with a purchase when they're ready. Pinterest is a natural part of the buying experience from product discovery to evaluation and sharing.
Pinterest is starting to act on these insights. Within the past week along, it launched board suggestions, which tracks online user behavior outside of Pinterest and makes content suggestions when they're on the site. Pinterest pulls them in deeper with content it knows they've been looking and, potentially, shopping for.
It did not stop there, however. Price alerts also launched The feature allows Pinterest to monitor pin prices for changes. If a user has pinned a product, he or she will be alerted via email if the price drops. Pinterest just became an essential savvy-shopper companion. Everyone loves a good deal.
The Ever-Evolving Social Landscape
Brands have gotten comfortable with social networks. The rules are easy. Create a presence, get followers and share content. Now platforms, like Pinterest and Polyvore are allowing users to connect with products and ideas at the center, instead of relationships.
Brands are a welcome addition to that kind of environment. Brands intermingling with relationships can feel odd, but brands touting their products on a product-focused social platform, not so much. The opportunity now is to create a Pinterest presence and interweave it with your website. The platform is only evolving, and it seems more open every day to working with brands.