Management

Pinterest: The Hidden Business Opportunity

Founded in March 2010, Pinterest has been known as the newest visual search platform, where users can find everything they’re looking for such as Fashion, beauty products, and advice; to Travel tips and destinations; Food recipes; and last but not least Business infographics and articles.

Since then, Pinterest has marked a successful progression. In 2015 they reached 100 million monthly users, 150 million users in 2016, and the progress continued till 2017 when they reached 200 million monthly users (Source: Pinterest). Considering it only debuted in 2010, we can definitely say that this progress was done at an amazing speed.

Today, the simple visual search platform is transformed into a purchase influencer, covering over 75 billion ideas of all types of products and services as mentioned on Omnicore. People have actually started to buy products after browsing on Pinterest. So if your business isn’t yet on Pinterest, you are definitely missing out on lots of sales opportunities.

Why is Pinterest such an effective purchase influencer?

According to Omnicore statistics, 87% of pinners have purchased a product because of Pinterest. Let that sink in for a moment! 87% of pinners have purchased a product because of Pinterest. So would you like to be the one that missed the boat?

Furthermore, 61% of users have discovered new brands or products from promoted pins. (Source: Pinterest). With Pinterest boards, users will have the chance to save those new discoveries, and have them before their very eyes.

In addition, more than 50% of Pinterest’s users are outside of US (Source: Pinterest). So if you’re an International brand looking to expand your image in different countries, Pinterest can help. Pinterest said 80% of its users access the site through a mobile device. Hence you can be sure to reach your users anywhere and anytime.

While some think this visual search platform is only successful with women, according to Pinterest, over 50% of new signups are men.

How is Pinterest such an effective Purchase influencer?

  1. Pinterest Tools

You can find your most convenient Pin tool, and adapt it to your Pinterest Business account. You have the choice between Rich pins, Buyable pins and Shop the look.

Rich pins: This Pin allows you, businesses, to include real-time pricing, availability of the product, and information on where to buy it. Users will also receive email notifications when product pins they’ve already added to their boards drop in price by at least 10%; consequently, users will be encouraged to buy more.

Buyable pins: With Buyable pins, users can save time and buy your product without leaving Pinterest. You will control the shipping process and take care of the customer service. However, the best part is…  Pinterest doesn’t take a cut from your sales, and these pins are available on mobile devices.

Shop the look: Used for fashion and home decor products, this pin is identified with blue circles that define each part of the look. Thus, pinners can tap the circle of the item they’re interested in, and when they’re ready to buy, they either buy it directly from Pinterest or they will be redirected to your website to buy it from there.

  1. Inbound links

Another way to drive back customers from Pinterest to your website is inbound links. On Pinterest, every image is linked to a source, and the source is your website of course. So just think about how many leads you can get, and the traffic you will receive on your website by just posting a beautiful attractive image of your product (Preferably vertical).

  1. Pin Stats and Pinterest analytics

Pin stats, available for all your pins for free; offer a quick overview concerning the success of your pins. It indicate you how often your pin has appeared on Pinterest, what are the most effective ways to increase your impressions, in addition to the total engagements, the number of close-ups and clicks you received on your visuals, as well as how many times your content has been saved by users.

Last but not least, finding what your audience loves is easy with Pinterest analytics; this professional feature, completely free, will give you access to all the data you need to a better understanding of your pinners. With Pinterest Analytics you can get better at creating pins and boards with metrics from your Pinterest profile, furthermore, you can get website insights and learn how people use the save button on your site to add pins, also, see how people interact with your pins from whatever device they use, and identify your highest-performing pins.

As a result to previous arguments, don’t waste any more sales opportunities for your business, jump on the bandwagon!

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rchbat