You’ve got to love PinterestBecause your consumers do.
The social media site Pinterest is like no other. It works like a virtual pin board, where users in the community can ‘pin’ photos they find online and organise them into different collections, such as ‘home’ and ‘fashion’. Users can follow each other and ‘re-pin’, ‘like’ and comment on other user’s pins.
23.4 million users in the US were gained in the site’s first 2 years.
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Since its launch in March 2010, Pinterest has shot to the forefront of the internet at an unprecedented rate. In two years the site gained 23.4 million users in the US alone, and now has an estimated 70 million users worldwide.
70 millionpeople are using Pinterest worldwide.
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04 Cont entsBuying Online .... 05
Pinterest’s Purchasing Power .... 07Pinterest for Businesses .... 10
How does Pinterest persuade purchases? .... 12 User-friendliness and hospitableness .... 13
Visual Merchandising .... 15 Trust and Endorsements .... 17
Persuasive Language .... 21Pinterest for Luxury Brands .... 22
Buying Online
Social media is havingan enormous influence on consumer behaviour.
Consumers are increasingly using the internet to discoverand purchase products from their laptops, mobiles and tablets.
This Nielsen report suggests that as many as 70% of active online social networkers shop online, and 53% follow brands. Furthermore online inspiration drive offline purchases, especially when it comes to making a decision between two brands.
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A study conducted by Vision Critical that was featured in Harvard Business Review found that 29% of Pinterest
users have purchased something after pinning or re-pinning it.
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One reason for this is that Pinterest is trusted by its users. According to data from BlogHer, 81% of female Pinterest users trusted the website for information and advice - which is more than on Twitter and Facebook. In fact, Pinterest has more buying power than any other social network apart from LinkedIn, according to research by Business Insider, with users buying more items, more frequently.
Pinterest is responsible for driving more sales to retail websites in the US than Facebook, according to a study of social media traffic by Bottica, an online fashion retailer.
Pinterest’sPurchasing Power
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According to data from a study conducted in 2013 by Wishpond, a social media company, pins that include prices get 36% more likes than those without, and 69% of online consumers have found an item they’ve bought or wanted to buy, compared with 40% on Facebook.
The interesting study also found that customers who are referred to a company’s website via Pinterest spend 70% more money than visitors referred from non-social channels.
Another noteworthy statistic is that 43% of people prefer to associate with retailers or brands on Pinterest, compared with 24% on Facebook.
0936%of pins receivemore likes if theyinclude a price.
PinterestFor
Business
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The visual cues that are rife on Pinterest are an easy way to persuade customers, especially because many users approach the site with a shopping mindset.
But this isn’t the only way Pinterest can benefit businesses. “Most small businesses are not doing a lot of ecommerce, but there’s still an SEO value,” says Marketing Land and Search Engine Land editor Greg Sterling. By being active on Pinterest, businesses can also improve rankings on search engines.
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Pinterest has become an indispensable tool for many businesses looking to drive sales and connect with customers.
How does Pinterest persuade purchases?
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User-friendliness and hospitableness
According to this infographic by analytics company KISSmetrics, 42% of shoppers base their opinion of a website on its overall design, and this influences their purchasing decisions. It says that 52% wouldn’t return to a website if they didn’t like its aesthetics.
Another study by tech blog Technorati.com says consumers are much more influenced by websites where they’re sharing information, learning from others and discussing ideas with users who have similar interests.
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42%of shoppers base their opinion of a
website on its overall design.
Another infographic by Vision Critical says that 43% Pinterest users would buy something because it provided additional product information and identified a place where they could purchase it.
All of these factors are Pinterest down to a tee. Products on Pinterest can have additional information and pricing, Pinterest’s layout and design is very user-friendly, and it has a great sense of community.
43%of Pinterest users would buy
something because it provided product information and a place
where they could buy it.
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One way to look at how Pinterest influences spending is to look at in-store visual merchandising techniques and how they influence customers’ purchasing habits.
One of the aims of visual merchandising is to take the stress out of shopping by helping customers to see product options in visually straightforward ways. Similarly, Pinterest photos can be organised into categories and displayed in a visually-pleasurable, yet straightforward, way.
Visual Merchandising
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70%of brand engagement on Pinterest is generated by users, rather than
brands, according to OfferPop, a marketing agency.
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Trust and Endorsements
A study by Digitas LBi , a digital agency, shows that 72% of consumers trust online reviews as much as personal recommendations. A ‘re-pin’ on Pinterest lets others know a user likes a product, and this influences other users’ likelihood of buying it.
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Not only does such a high percentage of online shoppers trust online reviews, but OfferPop points out that 74% actually rely on social media to help their online purchasing decisions.
Being active on Pinterest can help businesses gain indispensable, influential brand advocates.
Pinterest is a trusted site where more users would prefer to associate with a brand than they would on Facebook. Perhaps they feel that brands use Pinterest in a more creative way and with less of a sales approach than on Twitter or Facebook. Brands can create mood boards on Pinterest, giving customers insight and not just selling its products.
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Pinterest users share what they covet, lust after, and find visually appealing.
This alone is the perfect setting for a business.
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The most commonly used verbs on Pinterest are ‘want’, ‘use’ and ‘need’, according to a publication by Georgia Institute of Technology and the University of Minnesota, which are the exact words that online shoppers want to see. It also reflects what is at the heart of Pinterest and what drives it.
Persuasive Language
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Pinterest ForLuxuryBrands
Pinterest is a visual network reliant on images. It is the perfect setting for luxury retailers, with its inspirational, aspirational nature and language. Also, this study about social media and luxury goods reveals, among the highest percentage of online consumers are affluent – the very customer who is interested in luxury.
Pinterest’s users find and pin products they find visually appealing and aspire to own, using a highly visual layout. Therefore, users are more likely to pin a beautiful piece of jewellery than a £5 pair of leggings.
Luxury brand Sephora, for example, uses Pinterest to engage with followers. Its boards include ‘how-to’, ‘what’s new’, ‘PRO tips’ and much more. It says that its Pinterest followers spend 15 times more than Facebook fans.
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“The reality is that when you’re in the Pinterest mindset, you’re actually interested in acquiring items”.Julie BornsteinSephora’s head of digital
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A buying mindset, coupled with a website based on visuals and aspirations, makes it almost impossible for luxury brands to ignore Pinterest as an effective
marketing channel.
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At coANDco we have developed a simple method to determine if Pinterest is suitable to leverage your business:
What are the opportunities? What does the competition do? Where are the “low hanging fruits”?
Integrating Pinterest in any existing assets / websites.
Please leave your details here and we will be in touch.
(P) interested?
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32 Strategy
Creating a content strategy, sourcing the content and publishing it.
Content
Integration
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Sourceswww.mediabistro.com/alltwitter/nielsen-social-media-q3-report_b13637
www.visioncritical.com/social2sale
www.econsultancy.com/blog/9803-pinterest-drives-more-sales-than-facebook-stats
www.businessinsider.com/buying-power-of-pinterest-users-second-only-to-linkedin-says-comscore-2012-6
www.socialfresh.com/pinterest-users/#%21
www.blog.kissmetrics.com/color-psychology/
www.pamorama.net/2013/03/14/blogs-influence-consumer-spending-more-than-social-networks/
www.entrepreneur.com/dbimages/article/friend-follow-like-buy-infographic_1.jpg
www.ehow.com/info_8356014_visual-merchandising-influence-sales.html
www.offerpop.com/resources/blog/why-pinterest-marketing-makes-sense-for-your-brand/#.UuAXcxBFDIU
www.searchenginejournal.com/how-social-media-is-changing-the-seo-industry/63060/
www.offerpop.com/resources/blog/why-pinterest-marketing-makes-sense-for-your-brand/
www.cc.gatech.edu/~sbakhshi/gilbert.chi13.pinterest.pdf
www.sproutsocial.com/insights/promoting-luxury-goods-on-social-the-experts-share-the-secret/
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