It’s not uncommon to walk into your friend’s house, awe over their new furniture and hear them tell you that their inspiration came from Pinterest. After all, it’s a source of some of the most creative ideas, from weddings to interior design to food and drink recipes.
Pinterest recently listened to its 70 million users and made pinning more convenient by launching “buyable pins.” In the past, users have pinned many different products that they were interested in or flat out ready to buy. But problems occurred, such as the particular item(s) being out of stock, no longer in existence or the link being incorrect. With these “buyable pins,” users are able to check and see if the product they’ve had their eye on is available to purchase now.
The process is easy: if the product can be purchased right from the Pinterest platform, the photo will appear with a price number highlighted in a light blue font. You can click on it, adjust pricing filters, choose the color of the product you want (if applicable), put in your credit card information and boom… Done!
The idea of buying straight from the Pinterest app became a sensation. Entrepreneur magazine tallied that in just two months, 87% of Pinterest users have already bought at least one product through the “buyable pins.” This new way of online shopping has influenced customer attitudes in the same way as when they see a sale or special discount at their favorite store. It has also influenced more social media sites like Twitter and Instagram to link promoted products to their website and, potentially, reinvent their platforms the same way Pinterest has.
Social media has become prime in the business marketing world, no matter what you’re selling or the size of your company. Pinterest’s investment in high-quality photography on almost all of their pins is just an added promotional bonus. With the new “buyable pins,” businesses are able to promote their products in a very quick and productive way. Some of these businesses even include banks and financial corporations like Wells Fargo and Bank of America.
Bank of American joined Pinterest last October and in less than a year, they have increased sales and their number of customers by 30%. Though money management has captured more than 1.3 million pins, Bank of America has stood out because of their clever marketing. They have different boards based on the type of financial help you need, such as family and travel planning and purchasing a home. They are then able to look at user demographics and the types of things they post to determine if there’s a connection. They found that women pin a good majority of baby items and family planning photos. Now they can connecting with customers who will potentially need financing advice for starting a family.
Who would’ve thought a bank could create a reputation just as well as photos of fruit pizza and puppies? With “buyable pins,” Pinterest may be on their way to becoming the newest and most popular way to shop online. It’s already a faster way to tell people about a “hot” item or advising them to try something new.
Any business has the opportunity to have “buyable pins” on Pinterest. However, there are preparations that should be made. First, you must know that Pinterest is ready for you. Explore the other types of businesses that are similar to yours and consider how you would promote your product or service. You should also be using Pinterest’s analytical platforms to enhance your marketing. You can’t strategize a promotion without data! With these platforms, you can see the number of re-pins, favorites, clicks, etc.
Pinterest continues to be a great source of creativity, from teenagers to retired adults. And now that it has expanded to offer an easier way of shopping, it’s could very well give Amazon a run for its money!
Barcelona Creative Group (BCG) is a full-service marketing agency focused on building brands both inside an organization and out in the marketplace to help businesses achieve results and long-term growth.