People often dismiss the social media photo pinning site of Pinterest as just a place for mood boards and wedding planning. They fail to realize this juggernaut of a social media app generated $1.03 billion USD in advertising last year, boasting a 46% growth year-over-year. In fact, in 2019 alone, the site’s revenue grew 51% year-over-year, solidifying just how powerful the potential of Pinterest can be for a brand today.
Pinterest isn’t just a place for moms to pin up their favorite crafts anymore (although, the craft market performs with massive success on the site). Rather, it’s one of the most effective ways to advertise products to would-be consumers looking to find their next best purchase. Especially thanks to COVID-19 and the new-normal of strictly shopping online, the Pinterest visual shopping component has made it a fun and engaging way for individuals to make their next purchase, according to eCommerce expert: Akemi Sue Fisher.
“Sellers don’t realize that Pinterest is a massive traffic source for eCommerce,” said Fisher. “In fact, Pinterest is now the third largest social network in the United States, coming in just after Facebook and Instagram. While everyone focuses their attention on Instagram, Pinterest is off in the shadows totally changing the eCommerce game.”
Through “pinned” content that can feature a product or service in action, with an aesthetic twist, consumers can explore their would-be purchase in a realistic sense. They can see the product in action, already providing the visual social proof they desire when deciding if they can really trust the purchase. Plus, as visual creatures, human beings are more enamored by a visually-dominant and beautiful site.
The Arrival of Video Pins
Pinterest knows it’s sitting on a goldmine today, especially with a growing reliance on eCommerce, which is why they recently launched video pins for all users. These pins are proving to provide the highest conversion rates of all content on the site, creating a search engine within the social media app.
“Much like YouTube is considered its own search engine, Pinterest Video Pins is doing the exact same thing,” said Fisher. “Video has been proven to be the most preferred form of content by everyday social media users, which is why adding video to Pinterest just makes sense. Look at the growth and explosion of TikTok – consumers want to view their product in a video for proof of quality, demonstration, and social proof.”
Fisher is advising brands to repurpose the videos they are already creating for Facebook ads, TikTok, etc. and place them onto Pinterest today. Since Video Pins are brand new, Pinterest is putting significant weight on the contribution to their search engine, which results in free advertising and marketing for the brand.
“Now is the time to take advantage of this new Pinterest invention,” said Fisher. “For the brands that have never set foot on Pinterest, get in on the action now before the market becomes too saturated.”
