Pinterest Shoppers Buy More than Other Users

Marketers are always looking for the best ways to attract new customers, and that is especially true on Black Friday.  In addition to being one of the biggest shopping days of the year, however, it is also going to be one of the bigger advertising days of the year.  With millions of marketers trying to get their products in front of perspective customers, it is important to know where to go to get the best return on investment.

Businessman drawing ROI (return on investment)

According to Pinterest, their users are going to be shopping more on Black Friday than the average users.  This means if you can get your ads shown on that page, you’ll have an increased chance of it converting into a sale.

Pinterest has released new stats that support this claim as well.  Of course, most marketers know that when done properly, Pinterest can really do a great job at generating sales.  The trick is to make sure you’re marketing to the right groups of users (of course, that is the trick with any marketing).

According to the information released, Pinterest users are spending four times more than the average user on things in the ‘toys and games’ category. This is a massive number when you really think about it, a 400% increase over the average internet user.  That’s not all though.

Their users are three times more likely to spend money on housewares, clothing and accessories.  2.2 times more for electronics and media.  Another interesting point is that those using Pinterest are 50% more likely to spend the most on their Black Friday shopping at specialty stores and local businesses.

This is all very interesting information that can help marketers learn where they should be investing their ad dollars.  For an affiliate marketer who is promoting a wide range of different products, for example, putting ads up on Pinterest may be a great idea.  These ads can be for those categories mentioned above and can help to generate a much higher ROI than would otherwise be possible.

Of course, many different platforms will have great results, but finding those areas where you can get even a small bump over the competition can help in many ways.

If you’re not already an advertiser on Pinterest, it may not be too late to get your account set up and ads running for Black Friday.  You’ll have to hurry though as this major shopping event is just around the corner.

Pinterest Launching “Buyable Pins”

Pinterest has finally made the long awaited announcement that they will be adding a new button for ‘buyable pins.’  The feature will first launch in the United States only, but most people expect that it will then roll out globally over the coming months.  The feature is in response to one of the most popular requests the site got, which is the ability to buy items that people pin.

Pin it!

Pin it!

In fact, in the announcement Pinterest Co-Founder and CEO Ben Silbermann read a tweet from a users who said, “I wish Pinterest was as store.  Like how great would it be to walk in and buy all those clothes, and food and shoes and puppies and boys?”  He went on to comically say, “People have been asking for this stuff a lot and while we can’t promise puppies and boys, I’m really excited to announce today Buyable Pins.”

The new feature will allow certain companies and partners to add a ‘buy it’ button, which will be blue and appear next to the existing red ‘Pin It’ button.  When clicked, users will be able to buy the items featured in the pins, paying through ApplePay and traditional credit cards at first.  There are plans in place to add additional payment options in the near future.

One of the most surprising parts of this announcement is that Pinterest won’t be taking a cut of each sale.  They are allowing the brands and marketers to retain all their profits.  Pinterest will benefit from the fact that this will make their ‘sponsored pins’ more attractive, which should increase revenue.

The program is going to start with only a few selected brands, but they are big names and will make it so over 2 million buyable pins will be active at launch.  The initial companies include Macy’s, Neiman Marcus and Nordstrom as well as Shopify.  Marketers can list their own products on Shopify, which can then have them on Pinterest so there are options for individual marketers.

It is expected that the program will open up to all marketers in the future, which will generate a lot of opportunity for affiliate marketers who can list their products on this very popular site.  Whether they will have limits on the types of products and affiliate links that are permitted or not isn’t known yet.

The bottom line with this announcement is that it is going to turn Pinterest from a great traffic generating tool for marketers into an actual eCommerce site where marketers can begin generating great revenue directly.

Coming Soon: New Ad Options from Pinterest

Of all the major social networks around today, Pinterest seems to be the one lagging behind when it comes to generating advertising revenue.  They just launched ‘promoted pins’ not too long ago, and that is well after all the other networks had already offered a number of different options to entice marketers.  Despite this lack of paid advertising opportunity, however, many marketers used the site to generate significant amounts of organic traffic.

The words "PIN IT" written in wooden letterpress type.

The words “PIN IT” written in wooden letterpress type.

Pinterest, it seems, is ready to catch up to the competition when it comes to monetizing their platform.  They have just announced that they will be rolling out a number of different ad options over the coming months.  These options will dramatically increase the available options for marketers and give them the ability to get their messages in front of many more Pinterest users.

Tim Kendall, who is the General Manager of Monetization at Pinterest, said this of the move, “Sometimes users interact with Pinterest in discover mode, other times they are signaling intent by repining or saving pins, other times they take action by clicking on a pin or clicking through to a web site.  All of this activity has specific value to marketers.”  In addition, he stated, “We are aligning pinner action with marketer objectives.”  This, of course, will be key to the success of their monetization efforts.

Over the course of the next several months, we’ll see the following new features launched by Pinterest.  While they have not set any official dates yet, it will likely begin in the coming month.

Targeting People based on their Plans

This is an interesting marketing effort.  Pinterest claims that they have the user data necessary to help predict what they are planning.  This does make sense based on how their platform works.  If someone is pinning or saving a lot of wedding related images, for example, they are likely planning a wedding.  Using this data Pinterest will allow marketers to tailor their ads for the right audiences based on the activities they are most likely to engage in.

Cinematic Pins

These won’t just be the annoying auto-play ads that you’re used to seeing on other networks.  At least, not according to Pinterest.  They are launching “Cinematic Pins” which will begin going into motion as users scroll down a page.  The speed of the animation in the ad will adjust based on the speed the user is scrolling.  The full video won’t begin playing, however, unless the user clicks on it. This will help to ensure more accurate user engagement.

Engagement Pricing

Pinterest will be offering ‘Cost per Engagement’ (CPE) ads to marketers.  This gives many marketers the option to get great returns on investment by only paying when the user takes the desired action.  This model also comes with improved tracking and interaction monitoring.

Promoted App Pins

The app market is expected to grow to as much as $3 billion in 2015 so it is no surprise that Pinterest is trying to get in on this huge area.  They will allow mobile app install pins on a CPA basis.  This will make it easy for marketers of apps to get in front of interested audiences.

As you can see, Pinterest is really stepping up their advertising game.  Their announcement shows that they are confident in these new features, which they hope will generate significant amounts of money for their business.