Pinterest marketing expert NEWS FLASH!
Pinterest, also known as a social commerce website has just unveiled its first ever BUY IT button.
Pinterest already helps businesses in many proven ways:
- Get more traffic (and I am talking free traffic)
- Get more sales
- Collect market intelligence which helps with future content & even product development
- Raises your brand profile
- It helps you to develop loyal fans and brand advocates
- Helps you see exactly who is sharing your content from your website
- Helps you get a higher ranking on Google’s organic search
Businesses want two things; we want traffic & sales.
Pinterest users are known as Pinners, and they are on Pinterest with a buying mindset and their intent is about the future. They are not on Pinterest to talk about something that they did yesterday or today… it’s really about their future. So for businesses that is heavenly because consumers are literally telling what they love. It’s like a focus group.
For Ecommerce businesses Pinterest is a no brainer. You have to be on Pinterest. You know you can use Pinterest as an extension your website, showcasing your products and services and like I said, pinners go on Pinterest with a buying mindset which they don’t do on Facebook and Twitter.
Ecommerce businesses will be producing even bigger sales than ever before on Pinterest with the new BUY IT button.
Photo credit: Pinterest Blog
Pinterest is always working behind the scenes to make pins more action-oriented. For example, when an image catches your attention, how can Pinterest help you facilitate those things in real life? The exciting new feature that Pinterest announced today is Buyable Pins. As a Pinterest Account Manager I can’t tell you how pumped I am about this. The Buyable Pins is a new addition to the Rich Pins family that are free tools…Yeehaa!
Shoppers pay no additional fees to buy items. I’m going to assume that this will be an incentive for merchants to invest more on Promoted Pins. According to a recent study by Millward Brown 93% of Pinterest users have used Pinterest to plan for purchases so this evolution of now adding the BUY IT button should come as no surprise.
So far Pinterest has been working with retailers such Macy’s, Bloomingdale’s, Nordstrom, Kate Spade, Michaels, Cole Hahn, Bigcommerce, Magento, Wayfair, and IBM Commerce. Merchants will fulfill and ship the orders, and payments companies Stripe, PayPal-owned Braintree, and Apple Pay will process the transactions. When you pay with Apply Pay, it uses a device specific account number instead of your actual credit card number, so your device nor Apple Pay will send your actual card number to the seller.
To take advantage of Buyable Pins, merchants will need to switch to a compatible payment gateway, offer their products in USD, and ship to US addresses. Since Pinterest’s checkout experience accepts payment via Apple Pay, only gateways that support Apple Pay are compatible with Buyable Pins. Payment gateways currently compatible with Apple Pay and Buyable Pins include Shopify Payments, Stripe, Braintree, FirstData, Authorize.Net, and CyberSource.
Pinterest is also teaming up with ecommerce platforms Shopify and Demandware to enable buyable pins for their merchants.
Pinterest says U.S. iPhone and iPad users will start seeing the buy button in late June, then Android as of November 2015.
Photo credit: Pinterest
How does it work?
Pinners will see Buyable Pins on their home feed or in search, category feeds and boards. When you spot a pin with a blue price that means you can buy it right from the app. You can scroll through the images and use the price filter to hone in on just the right pin.
They no longer have to visit the retailer’s website. They just tap on the “Buy It” button and make a payment through Apple Pay, PayPal or a credit card. The product will be shipped to them for the identical price the Pinner would pay on the merchant’s website. Voila! It’s that simple. Pinterest visitors (Pinners) are on Pinterest with their wish list. If your business is not there you are missing sales. 100% for sure!
- Pinterest is helping buyable pins from small businesses through its hand-curated “Shop Our Picks” tab.
- Pinterest is focusing on fashion and home decor-related buyable pins because of the categories are popular among users.
- According to Marketing Land Buyable Pins are bringing new customers on board showing that about 90% or more of the buyers are brand-new customers to the merchant.
- A study by Shopify merchants showed that on mobile, pinners were twice as likely to take an action because of a pin if the pin was buyable.
Businesses has seen tremendous results from Buyable Pins:
- Spool No. 72, said eight weeks after activation of the feature, the clothing company is seeing 30 percent of its Pinterest-generated sales.
- Daily Chic, another online apparel company is seeing about 30 percent growth and increasing the number of items people are buying. It is driving more than 7,000 unique visitors a day to the site.
- Madesmith, an online marketplace for handmade goods, Buyable Pins account for 7.1 percent of the site’s total orders from July to September from new customers.
- There are now 60 million Buyable Pins on Pinterest.
Get on the list for Buyable Pins!
Buyable Pins are currently only available to select U.S. retailers and businesses. If you’re interested in Buyable Pins and use one of these partners, here’s how you can get involved:
- Bigcommerce: Visit Bigcommerce’s Pinterest page for more details
- Demandware: Visit Demandware’s Pinterest page or contact your customer success manager
- IBM Commerce: Sign up for the Pinterest waitlist as a Websphere customer and IBM will get in touch
- Magento: Visit Magento’s Pinterest page for more details
- Shopify: Visit Shopify’s Pinterest page to activate Buyable Pins
- sign up the waitlist
Pinterest marketing expert believes this is absolutely powerful for Ecommerce businesses!
It’s the latest way to seek new customers and offer new products to existing customers. If you’re an ecommerce business and you’re not making Pinterest the centerpiece of your marketing efforts you are seriously falling behind.
If understanding and using Pinterest to its fullest profit making potential in your business is overwhelming for you and you feel like you are going around and around with Pinterest and not getting anywhere contact me. I’m a Pinterest account management expert. Ask about my Pinterest account management services or to learn more about how you can be more effective on Pinterest check out my Pinterest Marketing Course for Business. Chapter one is FREE.