Pin to Purchase: How Pinterest is Delighting Users and Making Brands Money

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Leverage Pinterest To Drive Your Revenue …

Leverage Pinterest To Drive Your Revenue
Why is Pinterest such a valuable tool for brands? Already the third largest social network, Pinterest is powering e-commerce product discovery at an astonishing rate. Pins are the new hyperlinks and every pin is an opportunity for retailers to convert awareness campaigns into a trackable ROI, where each pin can be worth $1-$2 in revenue. Hear from Pinfluencer Analytics, which currently tracks over 1000 brands, and helps brand strategists take advantage of the Pinterest platform to identify which products resonate with various Pinterest communities, leverage influential brand advocates, and monitor the pin-to-purchase funnel.

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  • 1. “Here are the beautiful things that makeme who I am—or who I want to be” = PURCHASE@pinfluencers @tansybrook #DSM2012
  • 2. SITUATIONALANALYSIS
  • 3. “Pinterest has solved the problem of •Third largest social network - fastest growing ever discovery on the web” •Supports the move to a “more visual web” •70% women (huge potential for men and international) 2 Pinterest Yahoo Bing1.5 Twitter 1 Pinterest has beaten out0.5 Yahoo organic traffic, making Pinterest the fourth largest 0 traffic driver worldwide January February March April May June July August 25M Open registration 10M ±20M in AugustUSERS USERS USERS source: shareaholic via TechCrunch
  • 4. vs. However, it’s still far, far 50 behind Google Organic and direct traffic, as well as37.5 Facebook referral traffic. 25 Google Organic Direct Facebook Pinterest12.5 Yahoo Google Referral Bing StumbleUpon 0 Twitter January February March April May June July August source: shareaholic via TechCrunch
  • 5. vs.• Visual based vs. text• Positive vs. negative Ideal for products Cousin Joe’s product• Taste makers & personal network recommendations• Public so more potential for virality• People love repinning = (80%) much more likely to repin than to retweet (1.4%)• Buyers referred from Pinterest are spending 10% more than those arriving from other SM sites and are 70% likely to buy than a website “Pinterest traffic 10% likely to make a purchase than other social media” source: Shopify
  • 6. WHY ARE PEOPLE USING PINTEREST•Items they aspire to•Emotionally engaging, looking for inspiration•Explore outside of current brands consideration set•Organize data - access to the full web•Digest large amounts of data very quickly•Appeals to the collection instinct and self expression at the same time This will be mine someday!!!
  • 7. WHY ARE BRANDS USING PINTEREST•Great way to capture new customers•Most successful social media platform for producing revenue•Building a presence to touch the consumers in new and emotional ways•Brands and agencies are able to tell stories differently•Publishers can drive traffic for content•Pins drive distribution - they multiply on Pinterest via repins I absolutely love this band, do you know where its from by any chance? Thanks!
  • 8. WHAT ARE PINS?•Your digital mannequins•Avatar of your product page•Organic distribution of your product•Aspirational products driving traffic and downstream purchases
  • 9. WHAT ARE BOARDS?•Tell a story•Show “lifestyle” context with your products•Represent the personality (or a personality) of the curator•Boards are followed - pins are not
  • 10. +287 Likes WHO IS BENEFITING 1,477 Repins THE MOST?• Verticals benefitting the most: soft goods, online retailers and ecommerce players• Groups with good visual content - fashion, travel, home furnishings, design, consumer electronics, do-it-yourself etc.• Brands that embody peoples values & desire - fashion, food, etc.• Event based products -wedding, airlines, baby showers, graduation, home decorating, etc. Old men’s dress shirt DIY
  • 11. LEGALCONCERNS
  • 12. HOW TO BE SUCCESSFUL ONPINTEREST $$$
  • 13. PINTERESTWILD WEST
  • 14. PIN, PINNERS, BOARDS + INFLUENCERS Goal: Convertingawareness campaignsinto a trackable ROI 
  • 15. PINNING “Pins with $$ get 36%CONTENT more likes” Add “Pin” icons to encourage browsers to post content
  • 16. Opportunity for gamification CONTESTS•Board creation•Repin and win•Puzzles•Scavenger hunts
  • 17. MAKE CONTENTTHAT IS ENGAGING
  • 18. CONTENTBASED ONVALUES
  • 19. PRODUCTFEEDBACK
  • 20. COMPETITORTRACKING
  • 21. ECOMMERCEANALYTICS External Data Integration
  • 22. “Quality, not quantity -INFLUENCERS organized & consistent - new content frequently” - Dane 2m followers Not all pinners are created equal, influencers drive a disproportionate # of repins
  • 23. Pinfluncer sample (500 brands, in July, withPIN TO Google Analytics associated with their account)PURCHASECYCLE •On “average” Pinners drove between Contests 40 cents to $4 in revenue a month Analytics •On average 1000 Pinners drovePin Button between 8 to 65 purchases a month &Tracking •An “average” Pinner drove between 4$$$ and 30 pageviews a month Boards RePins Influencers
  • 24. WHY NOW?•Growing sector•Can you afford not to consider Pinterest?•Make your mistakes now•Impact the development of Pinterest•The tracking tools are now available
  • 25. THANK YOU! Contact info: tansy@pinfluencer.com or follow @tansybrook, @pinfluencers Visit: Pinfluencer.com for a free account to view your metrics