Pinterest: Turning the moment of inspiration into sales
Pinterest describe themselves as a visual discovery engine, moving away from a label of social commerce platform to represent a unique space where inspiration and discovery serve as powerful leverages for retailers aiming to magnify their brand.
“We actually don’t think of what we’re doing as ‘social commerce,’ says Adele Cooper, country manager, UK and Ireland at Pinterest in conversation with Tamebay.
“[We are] not a social media site, we’re in a good position to help people discover things to buy and how to style them with a path to purchase. People are planning for themselves, and not necessarily looking for social interaction. They’re ready and willing to shop and discover new brands, and it’s the intent that makes Pinterest a different kind of platform.”
The platform recently became a fertile ground for retailers wishing to plant their brand into a new soil – where a global community of 300 million monthly active ‘Pinnners,’ users who save pins on Pinterest, might not necessarily look for social interactions but willing to shop and discover new brands – bringing a copious harvest for traders beyond their retail sites.
Pinterest are accelerating their support for retailers with a recent launch of a video feature on the platform in a bid to see brands displaying products and services, how-to guides and tutorials in a video form.
“We’re finding that people on Pinterest are seeking videos that go beyond entertainment and social connection – they’re looking to discover, learn, take action and be inspired.”
The move is designed to remove the traditional shopping experience fatigue to create a journey of product inspiration without the feeling of being nudged to buy an item.
Pinners are twice more likely to view videos on Pinterest to find an idea, product, or service that they can trust compared to videos on other media platforms, with 66% of Pinners say that brand videos add to their Pinterest experience, significantly more than videos on other media platforms, and 53% are more like to purchase a brand and product after seeing a video on Pinterest compared to videos on other media platforms.
“Video on Pinterest are also the most inspiring way for businesses to tell their story. For example, businesses using Promoted Video are able to drive traffic or conversions like sales, signups, leads and add-to-carts as it helps businesses reach new customers who will spend more. We recently introduced new video features for businesses to reach their audiences including an improved uploader, video tab, lifetime analytics, and Pin scheduling.”
Pinterest have made it more seamless for shoppers to save and discover styles and products, to visually search items they see in the real world with Lens, and find where to buy a specific product within a Pin with Shop the Look.
Leading retailers are seeing the benefits of enhanced discovery and increased sales by using omnichannel experiences to woo shoppers. That, is retailers are taking an omnipresence stance by amplifying their exposure on multiple platforms to accelerate their reach, boosting the proximity to make sales.
Last year saw Pinterest collaborating with design brand, The Conran Shop to blend the best practices of the online and offline retail worlds. Their retail counterpart, John Lewis & Partners has found that as consumers are increasingly becoming multi-channel focused the trick is to reach them on funnels like Pinterest, opening the possibility for higher product discovery.
Retailers who wish to take advantage of the visual discovery engine can register for free as a business account. A Pinterest team is there to offer them a helping hand by sharing best practices for trading on the platform, boosting chances for a successful presence on the inspirational channel.
“A quick tip is to keep in mind that people on Pinterest are planners and often start searching for inspiration two to three months in advance. If you’re planning for a seasonal moment such as Christmas, you should know that some people start planning for Christmas in September, so try adding content early, so you reach people at their initial stage of planning. At the same time, don’t forget the non-planners amongst us who seek last-minute ideas.”