Almost from the moment it launched back in 2010, Pinterest was a hit. Although its original fan base consisted almost entirely of younger millennials, that began changing within a few years of its founding.
Today, people of all ages make up the popular website’s 250 million users. This dedicated user base has also made Pinterest a valuable resource for ecommerce companies across almost every industry.
If your products have visual appeal, you need to know what Pinterest has to offer.
Visuals are becoming more important than ever
Visuals have always been an important aspect of online shopping but prioritizing them is about to become mandatory for ecommerce companies.
There are two reasons for this.
First, better technology means that better visuals are now available. Instead of just offering simple images, companies these days can provide shoppers with high-definition videos that give 360-degree looks and even augmented-reality experiences.
Second, Amazon has invested in making visuals a priority. Recently, Amazon quietly debuted their new Showroom service that allows shoppers to position furniture in virtual living rooms, customize its other features, and then “shop the look,” so they can find everything they need on the site to create the entire room.
This new offering comes on the heels of Scout, another new Amazon service that combines their famous recommendation engine with a Pinterest-like interface.
As everyone knows, where Amazon goes, ecommerce as a whole goes. So, if you see them investing heavily in a specific asset (e.g. visuals), you’d be wise to do the same.
77% of weekly Pinners have discovered a new brand or product on Pinterest - GfK, Pinterest Path to Purchase Study, Nov 2018
The good news is that you don’t need nearly the same budget in order to do so thanks to Pinterest.
5 reasons Pinterest is the most important resource for online visuals
As online visuals continue to become progressively more important for ecommerce companies, Pinterest will become a must-have resource. Here are the top five reasons to start leveraging its potential right away.
1. Pinterest users search with buying intent
It’s not just that Pinterest’s entire site is based around visuals. It’s that the site has also become a hotspot for shoppers looking to make a purchase.
So, while many people associate Instagram with being the most visuals-focused social-media platform, Pinterest is probably the more important site for ecommerce companies. After all, people visit Instagram for any number of reasons. However, those who visit Pinterest generally do so because they’re looking for solutions (e.g. interior decorating ideas) and often have buyer’s intent.
Pinners are 39% more likely to buy retail products–and when they shop, they spend 29% more than people who don't use Pinterest - Oracle Data Cloud DLX ROI, Pinterest Retail Audience Profile Report, May 2017
In fact, according to one study about shopping on Pinterest, “90% of weekly Pinners use Pinterest to make purchase decisions. Compared to other sites, Pinterest is more likely to impact what people buy.”
2. “Shop the Look” Pins
In 2017, Pinterest gave marketers a fantastic reason to start prioritizing their social media platform. With their “Shop the Look” Pins, users are given information about specific items in pinned images and given links to purchase pages, so they can buy the products right away.
This means less guesswork for shoppers on Pinterest and less of a chance they’ll lose their way when trying to find a brand’s website to make a purchase.
3. Women love Pinterest
Although Pinterest’s male user base has been growing steadily, close to 80% of them are women. This is significant because, even if your brand focuses on males, U.S. women between 25- and 54-years-old make 80% of buying decisions for their households and are responsible for more than 50% of our nation’s wealth. That’s a lot of buying power.
Furthermore, 85% of female users in that age range who use Pinterest have done so to “plan small or big life moments.” This number is only 53% among Facebook users and just 44% among Instagram’s audience. Those life “life moments” can include purchasing decisions as big as buying a home or going on vacation, as well. So, while Pinterest users often trust the site for low-cost decisions about clothing and appliances, they’re also relying on it for major spending.
Finally, 51% of female Pinterest users report that they’ve discovered new brands by utilizing the site. This makes Pinterest a really great resource for any company looking to leverage their visuals but are currently struggling to find space on Google.
4. Pinterest users don’t mind brand input
One of the biggest challenges many brands face when they try engaging with users through social media is that it’s difficult to do so without seeming intrusive. Social-media users are savvy enough to know that a company is really after their money, even if their post is trying to suggest otherwise.
Fortunately, this doesn’t seem to be much of a hurdle for brands on Pinterest. Again, most of their users come to the site with buyer’s intentions anyway. 78% of those who rely on Pinterest for help with the aforementioned buying decisions even report that brands have helped them bring their ideas to life.
In simplest terms, you don’t need some subtle social-media campaign to encourage engagement with your brand. Get on Pinterest, and you can boldly spotlight your products all you want. If anything, a more “delicate” approach will probably cost you.
5. Marketers love Pinterest, too
Given all of the above, it probably shouldn’t come as too much of a surprise that many marketers have long-since realized its potential for putting powerful visuals in front of shoppers.
Close to one-third of Fortune 500 companies have presences on Pinterest, which says a lot when you consider that this includes huge names like Walmart, Apple, and even Exxon Mobile. That market share is also up more than 27% from last year, so you can expect it will continue to grow.
In an Analytic Partners study, Pinterest delivered $2 in profit for every $1 the advertisers spent; in gross dollars that translated to a $4.3 return per dollar spent - Analytics Partners, Measurement Case Studies, May 2017
Overall, 27% of all marketers who use social media have reported that they already invest in Pinterest, too. Again, given its popularity among shoppers and the growing trend of visual shopping, it’s a certainty that this number is going to increase, as well.
There’s still time to turn Pinterest into a competitive edge
As powerful as Pinterest is, it’s also been incredibly underutilized by most companies. That’s changing rapidly, but you still have time to turn it into a powerful tool if you act quickly. Start an account for your company today and then get busy adding high-quality images of your company’s products.