You can no longer ignore the power of Pinterest. If you do, you are throwing away sales for sure.
Nordstrom’s, Target, Home Depot, Sephora, and 100’s of thousands of businesses of all shapes and sizes are not. Search Laboratory projects $492 billion in U.S. online retail sales by 2018. Currently, U.S. retailers are selling $304 billion per year.
First let’s understand how Americans use the internet today. According to Search Laboratory
84% of American adults use the internet daily, which is actually lower than the U.K. (84.1%) and Australia (89.8%). 9 in 10 have a mobile phone. 6 in 10 have a smartphone. 56% of time spent with U.S. online retail occurred on a mobile device according to comScore. Over 75% of Pinterest users use their mobile when they’re on Pinterest. What this means to you is that you want to make sure that your ecommerce site offers a seemless online shopping experience.
But you’re wondering why Pinterest? Well here’s some stats that prove why you need to make Pinterest a bigger part of your marketing efforts:
1) 75% of social generated sales came from Facebook, Twitter and Pinterest.
2) 91 percent of those surveyed will shop online this holiday season. Thirty-seven percent of respondents will use social networks to research gifts. IBM analyzed Christmas sales across two leading sites, Facebook and Pinterest. Facebook referrals drove an average of $89.80 per order, while Pinterest referrals averaged $99.86 per order.
3) According to a new report from Experian Marketing Services social networks accounted for 7.72% of the traffic to ecommerce sites, up from about 6.6% the previous year. The study also reveals that Pinterest drives more traffic to retailers websites than Facebook. Pinterest at 10.9% vs.Facebook at 5.3%.
As a Visual Content Marketing expert I can tell you that from a business perspective with social media there is a rotation underfoot right now.
Pinterest, still in its infancy, now has the top spot in terms of buzz and attention. Plus, in terms of measurable, financial business impact it is for sure producing big time. Which of course, is why businesses of all kinds; big and small are flocking to this visual discovery tool.
“Mostly, big brands are interested in these visual networks because Facebook isn’t working as well; they are looking elsewhere to find the sort of engagement that Facebook hasn’t delivered,” said Nate Elliott, vice president and principal analyst with Forrester Research.
Women on Pinterest are 30% more likely to shop or buy online than the average woman and Pinterest users spend nearly 2x the norm! (Source: Comscore 2014)
About 33 percent of American women use Pinterest, according to data from the Pew Research Center. Let’s not forget that women traditionally make most of the household buying decisions.
Over 80% of Pinterest users are women and they are on Pinterest with a shopping mentality! They go on Pinterest with their wish list checklists for a lot longer than they are on Facebook and Twitter. This is part of the magic and power of Pinterest. Images looked at over and over trigger the mind to want them more and more and more. There is a very powerful psychological force at work here. Think about it. If you look at a picture of something you want to buy over and over and over is that going to make you more or less likely to buy it?
3 easy & powerful ways to give your business increased exposure through Pinterest:
1. Include Pinterest’s social sharing buttons like “Follow me on Pinterest” along with your other social icons above the fold and on the bottom of every blog or website page. When Indigo launched Pinterest sharing tools on their website in early March 2013 the company saw an almost immediate 78% jump in social sharing and 218% leap in social traffic. Pinterest doubled their social traffic and increased conversions by 50%.
2. Add the “Pin It” button. Did you know that after companies like Ikea and Target added the “Pin It” buttons to their websites they saw tremendous results: eight of Pinterest’s top 10 retail brands prominently display a Pin It button and brands like Ikea and Target generated nearly 1 million shares (aka pins and repins) from their website.
3. Appy for the Product Rich Pin. Rich Pins drove 20% more engagement per Pin than those without the rich product information.
Not sure where to start? Get Chapter 1 from Pinterest Marketing For Business course for free.