Pinterest, which is widely known as a visual image sharing platform, is gradually delving into the world of e-commerce for social shopping. Traditionally, users go to Pinterest to get a visual idea of items that they intend to purchase, and then go to other websites to make the purchase. This means that Pinterest generates lots of leads, which are later converted to sales by other websites or companies.
The Pinterest platform realized that they were losing out on so much money. Equipping Pinterest with the necessary technological capabilities to support social shopping has not been an easy task to achieve; however, the overwhelming benefits of investing in social shopping could not be ignored.
Today, Pinterest is looking to complete the sales circle in one place and on the Pinterest platform. Pinterest will not only generate leads, but it will also allow users to make purchases on the platform. Users will not only be able to interact on Pinterest, but they’ll also be equipped with the power to shop and make buying decisions.
Pinterest has recorded remarkable success with the introduction of “buyable pins.” With the introduction of buyable pins, users can make purchases in-app. Statistics revealed that users leveraging the buyable pins service increased sales by over fifteen percent and also increased traffic to the website by over twenty percent.
The successes recorded with buyable pins leave Pinterest with no doubt that social shopping is here to stay, and Pinterest is ready to maximize this fantastic business opportunity. So why is Pinterest betting everything on social shopping? Why is Pinterest determined to leverage e-commerce and direct shopping potentials for its users? How does Pinterest intend to achieve this social shopping objective? Here are some informative points to note.
How Pinterest Is Achieving Social E-commerce Objectives
Introduction Of Shop-the-look Ads.
Pinterest introduced the shop-the-look ads feature to allow pinners to discover more products and make purchases seamlessly. With shop, the look ads service, product sellers sites such as gumroad, and business owners can tag as much as 25 items within a pinned image. Users will then be linked or connected to different purchase pages for each item within the pinned image. Business owners and sellers pay to get more visibility for their shop-the-look pins.
Select partners in Brazil, France, Germany, Japan, and UK markets are already leveraging shop the look ads for their businesses. With shop the look services, business outfits and sellers can showcase an extensive inventory of their products with a buy button that connects the consumers with the websites of these sellers for purchase or checkout. This also means that sellers can maintain a direct connection with consumers.
Ultimately, one fundamental goal of Pinterest is to make all pins and the products in them shoppable. Essentially, Pinterest wants to facilitate more e-commerce transactions, even though the transactions are not completed on the Pinterest platform. Brands get full access to the data of customers acquired through Pinterest.
Updated Business Profiles
With a Pinterest business profile, business owners can create and update their business pages on Pinterest. With the business profile, consumers can shop for products by viewing the business profile of sellers, and this can also generate more traffic to the website of sellers. A well written and updated business profile is vital to get the attention of users or consumers.
Another great feature of the Pinterest updated business profile is that it allows sellers to personalize or customize their business profiles to get pinners more engaged. Brands can use videos on their business profile to create brand awareness and relate their unique brand story to users. Moreover, another essential feature of the business profile on Pinterest is the messaging feature, which allows brands to provide quick customer support services to users and also receive feedback from users as regards their products and services.
Expanding Third-party Partner Programs
In its bid to provide more social shopping experience for pinners, Pinterest ventured into a host of third-party partner programs. Some of Pinterest’s third-party partners include Shopify, WooCommerce, MikMak, GoDataFeed, Feedonomics, Jebbit, among others. Pinterest partnered with each of these platforms for various social shopping reasons.
One of the reasons why Pinterest partnered with WooCommerce is to assist brands set-up, design, and develop e-commerce websites for their businesses. Pinterest partnered with platforms like GoDataFeed and Productsup to help brands selling products on Pinterest to manage their product inventory feeds.
The Pinterest partnership program is designed to lend support to sellers and merchants selling their products on the Pinterest platform. Pinterest created these partnership programs in efforts to support and increase social shopping on the Pinterest platform. A study undertaken by market researcher GFK revealed that more than 57% of users on the Pinterest platform make use of the Pinterest app to shop in stores.
Furthermore, in line with Pinterest partnership programs, Pinterest joined hands with notable e-commerce platforms like Magento, IBM Commerce, and Bigcommerce. These partnerships make it easier for brands to sell their products within the Pinterest social platform.
Shopping Ads And Catalogues
Pinterest catalogs enable brands to upload their complete business product catalog on Pinterest. Products on catalogs automatically become shoppable pins. Brands and business owners can even create Pinterest ads in order to give the products on their catalog more exposure.
Pinterest is primarily a visual discovery platform and can be used to learn new stuff and execute projects of all sorts. Its fundamental objective is to connect users with product inspirations and ideas. Pinterest is a visual search engine that uses artificial intelligence to analyze images, and this is where the power of Pinterest’s embedded e-commerce ambition lies. Today, users are not only using Pinterest to visualize and search for products, but they are also using Pinterest to make buying decisions.
Pinterest is taking it a step further by investing in tools that will enable users to make purchases for items that they discover on Pinterest. Millward Brown Digital, a notable research firm, revealed that ninety-three percent of Pinterest users and visitors go to Pinterest to get ideas about products, and eighty-seven percent of these users make their purchase via Pinterest. Little wonder why Pinterest is currently investing a lot in social shopping.
About the author
Gregory is passionate about researching new technologies in both mobile, web and WordPress. Also, he works on writing service review websites Online Writers Rating. Gregory in love with stories and facts, so Gregory always tries to get the best of both worlds.