Pinterest has this week released some compelling new research data via Analytic Partners that highlights even more emphatically, what we've been saying at Pinning Up from Down Under for some time...
Every sane retailer on the planet should at least be experimenting with the platform as a source of consistent, cost-effective and purchase ready traffic.
And FOUR facts in particular really leap out of the data in helping us walk Australian retail brands through the argument here.
1. 55% of Pinners say they use the platform to shop for and find products, more than four times the rate of other digital platforms
While people go to Facebook to eavesdrop on their friends' lives, very few perform searches on the platform, which is why at Pinning Up from Down Under, we argue Pinterest has an ability to generate purchase ready ecommerce traffic that is equal to or better than Adwords, and for similar reasons.
This is borne out in the in-depth Analytic Partners study of five advertisers, which showed that Pinterest outperformed other marketing channels for ROI on average by an impressive 45%.
Based on the study, Pinterest is delivering a benchmark return for its advertisers of $2 profit for every $1 spend. You read that right, that's PROFIT, not REVENUE. The actual ROI of these campaigns is 200%. This is the most easily scalable advertising decision a marketer will ever be faced with.
2. More than 200 million people performed a search on Pinterest in 2016
So while it can't generate Adwords' sheer volume of traffic, it can generate a higher organic traffic volume because the general and the ads traffic is all mixed into an infinite news feed, where on Adwords you are competing with other advertisers for just three small bits of advertising real estate.
Most ecommerce vendors who have invested heavily in the platform have found Pinterest has quickly become their highest ROI major traffic source. Where your Facebook post will have disappeared within a day, your Pinterest pins will continue serving and remain discoverable potentially infinitely. Pinning work these retailers did two years ago is still bearing purchase ready traffic fruit for them today.
3. Pinterest has seen a whopping 45% increase in mobile searches over the last year
Pinterest was designed from the ground up mobile-optimised in its preference for vertical format images. As the world becomes ever more mobile-first, Pinterest is arguably positioned than any other social media platform to ride this wave.
And retailers will know that consumers are becoming ever more mobile first in their purchase behaviour. Smart retailers should already be joining the dots as to which platforms they should best be investing their social media efforts in TODAY to plan for future growth.
4. Pinterest should be in the future social media plans of all ecommerce retailers
So, Australian retailers not yet on Pinterest, ponder this one moment. Your competition is running ad campaigns on Pinterest that are generating significant purchase-ready traffic for them, and they are doing so at 200% ROI. And the prospects for this platform just look brighter and brighter.
How much longer can you afford to NOT be on Pinterest?
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