Study: Promoted Pins on Pinterest Drive In-Store Sales
June 8, 2016 | Contributed by: Joe Morsello
According to survey data from GlobalWebIndex, 40% of 16-24 year olds use social media to research products. The same survey showed that social media are capturing 30% of daily time online. Despite these numbers, many enterprises and especially small business advertisers remain uncertain about the ROI of social media marketing.
For that reason social media platforms have sought to document the value of advertising on their sites. This increasingly is taking the form of online-to-offline measurement. Pinterest is the latest to release such data.
According to a study Pinterest conducted with Oracle Data Cloud, “Promoted Pins drive 5x more incremental in-store sales per impression.” In other words the study found that Promoted Pins get people to buy more in-store. This is based on a sample size of 26 Promoted Pin campaigns across food, household and beauty brands.
Pinterest has about 100 million active users, the majority of which are women, though more and more men are joining. Increasingly, these users are being inspired to make purchases based on the content they see, save and share on the site. In fact, a Millward Brown study found that 93% are using the platform to plan purchases.
Furthermore, the Millward Brown study found that 87% of Pinterest users have made a purchase after seeing a product on the platform. Reinforcing this stat on the paid side, the Oracle study found that people who engage with Promoted Pins are 12% more likely to be buyers of that brand.
Pinterest is well suited for consumer packaged goods and retail product sellers because of the site’s visual nature. The way in which pins are shared or re-pinned also builds and amplifies exposure.
While Pinterest is rapidly becoming an e-commerce platform, it’s also having a meaningful impact on in-store sales. This study was intended to make that impact more apparent and measurable for marketers.
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