Pinterest Expert Reveals Pinterest Provides Highest Return on Investment Based On Research
As a social media marketer and Pinterest expert I know too well how marketers have to work harder than ever to get their content noticed. And that is especially true for service companies who are all competing to get noticed. We craft blogs, articles, videos, webinars and ebooks all with the intent of engaging our potential prospects so we can build; brand awareness, drive traffic to our websites and generate leads. It’s a lot of work!
From there we amplify our messages by leveraging social media and then we measure for results hoping for the biggest ROI possible. More work.
The great news is…
What if I told you that on Pinterest your content continues to work for you long after you’ve pinned? This does not happen on Facebook and Twitter.
Your content has a shelf life.
What I mean by shelf life is that at some point after you pin, tweet or post people stop engaging with it.
On Pinterest your pins continue to work long after you post them which increases your odds of engagement and that could mean more click throughs, repins, comments and likes.
Content on Facebook and Twitter doesn’t last very long. A link on twitter lasts approximately 2.8 hours, on Facebook it’s 3.2 hours and via ‘direct’ sources (like email or IM clients) it’s 3.4 hours.
Now it’s a different story with Pinterest and you’re going to love this!
According to Piqora they found:
- 40% of the clicks happen within the first day.
- 70% of the clicks happen within first 2 days.
- Remaining 30% clicks come all the way through 30 days and beyond
Incredible isn’t it? This is heavenly for any marketer; the fact that your pin on Pinterest can still create engagement with your brand a full 30 days after you pin it. That’s amazing in terms of ROI!
Check out how my blog post is still being shared after 49 weeks!
When you pin an image on Pinterest it’s there forever unless of course you decide to delete it. 80% of the images are repins which tells you how your image has the potential to go viral. So from a marketer’s point of view it’s very rewarding to know that all your hard work continues to pay off for several weeks, a month and even longer!
Let’s take a look at some hard facts on how Pinterest has been driving sales:
- According to a new report from Experian Marketing Services social networks in March 2014 accounted for 7.72% of the traffic to ecommerce sites, up from about 6.6% the previous year. The study also reveals that Pinterest drives more traffic to retailer’s websites than Facebook. Pinterest at 10.9% vs. Facebook at 5.3%.
- Feb. 2014 Millennials Drive Social Commerce: Although Facebook and Twitter both have a larger user base, their users are far less likely to buy than Pinterest users following an interaction and the average order value for Pinterest is a 1/3 higher than Facebook’s and more than double that of Twitter. Millennials, also known as Generation Y, are defined as the demographic cohort born between 1980 and 2000
- Jan. 27, 2014: Pinterest overtook Facebook in terms of revenue per visit (RPV) in the UK in 2013, and is expected to do the same in the US this year.
- Mobile revenue from Pinterest is exploding. According to research on Pinterest analytics carried out by the in-house data scientists here at Piqora, retailers & brands saw total revenue from Pinterest mobile users up 224%. What this means is that Pinterest users are actively shopping, conducting research, and buying products from touch devices.
- AddShoppers recently released its 2013 social commerce breakdown. Pinterest pins drive more revenue to ecommerce stores than any other social share.
- On July 22, 2013, Pinterest introduced “Rich Pins”, allowing brands to embed useful information directly into their pins. Following the implementation of Rich Pins, MY TRIO RINGS saw conversion rates in terms of impressions and clicks increase seven-fold!
- Pinterest Pins worth more than Facebook Likes for retailers. 8thBridge is a social analytics firm which monitored nearly 900 shopping portals between July and November 2013, finding that 62% used the Pinterest button & only 59% employed the Facebook equivalent.
Pinterest Case Study: Target generated nearly 1 million shares (aka pins and repins) from their website when they installed the “Pin It” button.
- According to IBM’s Annual Black Friday survey 2013 on average, holiday shoppers referred from Pinterest on Black Friday spent 77% more per order than shoppers referred from Facebook. Facebook average order value was $52.30 versus Pinterest average order value which was $92.51.
- According to Piqora, having performed “the first scientific and quantitative research” of 1,000 brands on Pinterest between February and October 2013.
a) Findings from the survey show that, on average, a Pin generates 78 cents in sales, up by 25% from Q4 2012, and drives two site visits and six page views
b) 50% of orders happen after 2.5 months of pinning. When a product is on Pinterest, it signals that the product is worth buying. That creates a strong latent demand for products. Popular pins continue to get discovered via search and navigation.
c) Orders from Pinterest spike on Mondays, but in general are uniform throughout the week. That could be due to users discovering a lot of products on the weekend and buying them on Mondays after more research and consulting with their spouses.
- VentureBeat reported that Pinterest drives more revenue per click than Facebook or Twitter. Ayotte said people come to Pinterest with a shopping mindset, using it as a pre-shopping cart.
- Pinterest buyers spend more money, more often, & on more items than Facebook, Twitter, LinkedIn and Tumblr. (Source: COMSCORE)
- Pinterest is not just raising brand awareness but is also driving purchase behavior. About 25% of consumers reported purchasing a product or service after discovering it on Pinterest – that number jumped to 37% amongst males. (source: Compete)
- Pinterest tops Facebook in driving ecommerce. A survey of 7,431 online shoppers, conducted by BizRate Insights reveals Pinterest motivates more online purchases than Facebook. (Aug. 2012)
*70% of shoppers use Pinterest to get inspired about purchases.
*67% of shoppers use Pinterest to stay on top of trends.
*30% of shoppers seek special offers on Pinterest.
- Pinterest users spend more than 2x as much as Facebook users.Average order value when a user follows through on a purchase from a product seen on Pinterest is $179.36 (Source: Fast Company)
- Pinterest is better at inspiring purchases than Facebook. 69% of online consumers who visit Pinterest have found an item they’ve bought or wanted to buy, compared with 40 percent of Facebook users.
- An estimated 47% of U.S. online shoppers have made a purchase based on a recommendation from Pinterest (source: BlogHer 2012) this estimate beats out both Facebook and Twitter, which stand at 33% and 31% respectively.
- Vision Critical found that 50% of the items caught users’ attention while they were casually browsing Pinterest itself (24% on a stranger’s boards, 19% on a friend’s, and 7% on a retailer’s). Another 10% came from Pinterest searches. These numbers are a testament to Pinterest’s power as a kind of user-generated digital retail catalog that shoppers flip through for ideas. (July 2013)
If this doesn’t make you say “wow” then I don’t know what else will. Pretty amazing stats huh? Bottom line; you need to be on Pinterest before your competition out-competes you.
If anyone wants to learn more about how to leverage the power of Pinterest into their business please contact me to reserve a free 30 minute business consultation to avoid wasting time or get Chapter 1 from my Pinterest course for FREE.