Pinterest’s New Changes That Can Grow Your eCommerce Business
When we think about social media platforms, our minds immediately go to the main social media channels like Facebook, Instagram, YouTube, LinkedIn, and Twitter. And if our business is present on these channels, we believe we've succeeded. But what about Pinterest?
Pinterest is a widespread and relevant channel for almost any small business, especially if you are in the eCommerce sector.
In this blog post, we'll talk about the basics of using Pinterest for advertising your eCommerce business and how can the new changes made to the platform affect your business.
Pinterest Social Media
Pinterest is a visual social media platform that is used for inspiration from millions of people all around the world. This platform lets users save pins onto different boards which can be hidden or public.
Everyone can create different board names and save pins that are of their personal interest.
Pinners can upload their own pins consisting of images and links, or they can follow various boards and discover new pins by searching them in the search tab.
Pinterest currently has over 300 million active users and 85% of them use their mobile devices when using Pinterest. And even though this number seems like nothing compared to the expected 1.69 billion Facebook should reach by the end of 2020, it’s still abundant, especially when you consider Pinterest's selling power.
Pinterest for eCommerce
Creating an eCommerce marketing strategy for Pinterest is worth the effort and advertising with Pinterest can help your online store grow. Why, you may ask?
Well, here's what the numbers say:
- 89% of US Pinners use Pinterest for inspiration in their journey to purchase;
- 47% of pinners log onto the site specifically to shop, making it nearly four times more effective at generating sales than other social platforms;
- 97% of top searches on Pinterest are unbranded, meaning people come to Pinterest to shop for generic terms and not specific brands, which is good news for the smaller eCommerce businesses and they can get easily discovered;
- Pinterest closed out 2019 by overtaking Snapchat as the third-biggest social network in the United States. Facebook and Instagram hold the top spots. If we add YouTube into the mix, Pinterest falls to the fourth position;
- 88% of the users purchase a product they pinned;
- Pinterest’s audience may not be as vast as Facebook’s, or as teen-targeted as the Snapchat and TikTok crowd. More than anything, Pinterest is preferred by women, and most of them are mothers. That’s noteworthy since women influence 70-80% of consumer spending in the US;
- High-income households are twice as likely to use Pinterest as low-income households. According to a Pew Research study, most Pinterest users earn more than $75,000 a year. That means more often than not, people who use Pinterest have a disposable income.
All the statistics confirm that Pinterest is excellent for your eCommerce business. Online stores can thrive on Pinterest because the users here buy produce at a higher rate than on other social platforms. This is because pinners are actively searching for something rather than just scrolling through a feed.
Pinterest’s New Features and Changes
To make the shopping experience easier, Pinterest is adding new features: to shop on boards, from pins, through the shop tab, and in search results. With this, and with the new updates from earlier this year, Pinterest increases the potential for retailers to display their products on the platform.
So, without further ado, here’s what’s new:
Verified Merchant Program
Retailers that will exhibit high-quality customer service experiences through manual review, can become verified merchants. They will be recognizable with a special blue checkmark on their profile and become eligible for enhanced distribution within high-intent shopping experiences and metrics like conversion reporting. If you are interested in signing up for the program can learn more at pinterest.com/verified.
By advertising with Pinterest, advertisers can now reach users who have previously engaged with their brand online or who still have items in their cart that are unpurchased. They can use exact or similar products they search and save on Pinterest and retarget them. Pinterest also added more optimization levers, so that advertisers can have more control. If you're not sure how to do this, don't worry, you can always contact a social media advertising agency to help you reach your goals.
New updates to the Catalogs reduce the time from feed ingestion to Product Pin creation, plus there are new metrics added like the user experience enhancements, and feed ingestion scheduling. This means that you can upload all your goods to Catalogs to generate Product Pins, which display price, availability, and product descriptions, plus link directly to your eCommerce site.
Shop From a Board
When a user visits their board, they will now be able to see a Shop tab that will show products that are inspired by their saved pins from that board. This works like a simple shopping list that has been designed for their boards.
Shop From Pins
Similar to the shop from the board, users can now be able to see similar products right from the pin, just by clicking 'shop similar'.
Shop From Search and in Stock
A new Shop tab will appear on search. This tab is compatible with fashion and home décor products, Pinterest also notes that it shows only products available in stock. It will be easier for pinners to shop in-stock products when searching for generic terms like 'summer shoes', 'kitchen remodeling', or 'living room decor'.
When searching for home-related terms like ‘bedroom ideas’, style guides will appear for home ideas in some popular styles like eclectic, minimalistic, contemporary, and rustic. These visual recommendations make it possible to see styles even when you don’t have the words to describe what you’re looking for. Pinterest explains this like having an interior designer right in search.
New Creative Partners and Announcing Pinterest Creators
Pinterest's partners program is adding Adobe Spark, Over, PicMonkey, and Canva. These are trusted services for tools like creating, designing, editing, and publishing pins from business accounts.
Also, as creators are a fundamental part of Pinterest's community, they are announcing a new look for the Pinterest Creators brand and say that they will continue to add new resources and tools.
We can start to see more of the Pinterest Creators brand in the coming weeks, but you can get a feel for the new look here:
With these improvements on Pinterest, the platform is defining itself as the perfect place for shopping where the users can buy the same product as they see on the screen. That is more helpful for users, who visit the site with the intent of shopping, and it is also beneficial for eCommerce businesses.
Leveraging Pinterest's Changes for Your eCommerce Business
Don't forget that you need to have a good eCommerce marketing strategy for Pinterest. For example, if you write an SEO optimized description for your pins, you will be more easily found by people.
In the last 10 years, Pinterest has proven that change can sometimes be great. Because of the image-sharing characteristics of the platform, online stores get so much more publicity and traffic to their sites. Organic traffic is always the best traffic your eCommerce business can have. Considering this, every online store can take advantage of the features Pinterest offers to create brand awareness, to share eye-catching images in various formats, and to become the place where prospects find you and use your boards to discover what you offer.
Pinterest allows you to segment your target audience by using categories to drive the right shoppers to your right products. For example, if you are selling pet products you can pin them to 'Cute dogs' or 'Toys for pets' and reach a larger and more specific audience that's interested in seeing images and products connected to their pets. You can use the app integrations that use your account’s analytics to post relevant pins at peak engagement times.
Let's not forget that Pinterest’s most unique skill is simply its structure. Pinterest allows people to organize their boards and see boards they find relevant, which gives great user experience and complete control over the images you’d like your visitors to see. This means that letting users browse your store through your Pinterest boards is better than dropping a Facebook Ad in the middle of their feed and hoping they stop to look.
To Wrap Things Up
In conclusion, Pinterest is undoubtedly the ultimate visual search engine and the world’s catalog of inspiration and ideas. With a Pinterest business account, brands can create and manage a Pinterest marketing strategy that raises brand awareness and drives traffic and conversions to their online stores.
In the future, Pinterest's marketing power will continue to grow, so now would be the best time to start exploring this social media platform and start leveraging its new features, and changes into your marketing strategy to grow your sales and make your eCommerce business more profitable.