Pinterest: The Showrooming Solution?
Where there are great numbers, there’s hope of great revenue as social media channels continue to search for the most effective methods to monetize their platforms. Pinterest has been one of the most currently favored players by reaching over 46 million users. It has recently announced it will begin experimenting with new advertising streams in the gentlest way possible so as not to rile its devoted users. If retailers haven’t figured out how this network can benefit them, it’s time to start.
Businesses have discovered that Pinterest has proven to be a retail workhorse by encouraging “reverse showrooming” where users view products online and then physically purchase them in stores. A research study recently released by Vision Critical revealed that Pinterest was found to actually drive traffic to stores by influencing 21% of its respondents to purchase an item after pinning, repinning, or liking it. In fact, it was found that Pinterest was responsible for producing the most spontaneous purchases when compared to other social media channels.
Pinterest is such a unique platform because its function is to “socialize specifically around products.” It’s not content through words, but content through images. Pinning is an ongoing process that results in a ripple effect of those pins leading to many more re-pinnings, and onto the boards of many more users around the world who specifically chose them. Therefore, brands are not only able to know exactly which individual products each user likes, but those users are eager to tell brands what they find most interesting.
Product images may lure Pinterest users in, but it’s the product information that actually drives the purchasing from Pinterest. Links attached to the image allow users to click back to the brand’s website for more information. Most recently, a promotional tool known as rich pins has been introduced allowing retailers to provide real-time information such as price, availability and where to buy their products. But with the advent of digital advertisement through this platform, many businesses are eager to put it to use – especially since large, experienced retailers have reaped great success already by watching how their acquisition of millions of followers has converted to sales.
As retailers determine the best social media networks to use in their marketing campaigns, they need real-time, relevant data provided by in-store analytics that can help assess the effectiveness. Through our people counting solutions, ShopperTrak enables retailers to make the most accurate decisions in order to drive in-store foot traffic and increase conversions.