Pinterest - Does It Deserve Your Attention?

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📆 Friday, 5^th February 2024 

Hi, and welcome back to Growth Espresso - your one-stop destination for everything e-com.

In the context of paid ads for ecom, business owners only talk about two platforms usually - Meta and Google. But with rising CACs and CPMs, a lot of businesses are trying hard to find alternative channels of acquisitions. One underrated channel is Pinterest 📌 

Pinterest is one of the biggest social media channels with over 320 million monthly active users (link) 🚀, most of them going there to plan their shopping. It’s especially a goldmine if you’re in fashion, home decor or beauty category ✨ 

In this Espresso ☕️, we will discuss why you should give Pinterest a shot and what value it can bring to your business. So let’s dive right into it 👇️ 

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1/ Pinterest Audience Has A Huge Buying Intent 🛒 

After “viewing photos”, “shopping” is the second biggest intent of Pinterest users as per this survey by Statista.

Pinterest acts more like a search engine than a social network, with users primarily searching for general terms rather than specific brands. This presents a significant opportunity for businesses, as 97% of users search for general terms, and 95% have tried Pinterest ideas.

Additionally, 77% of users discover new products weekly, and 80% of purchasing decisions in the US are influenced by women, who make up the majority of Pinterest users. Over half of users find the platform helpful for discovering products, and users frequently add images from the web, driving traffic back to websites. With Pinterest users typically having higher disposable incomes, the platform is a lucrative social commerce marketing channel for brands.

2/ It’s Cost-Effective 💰️ 

Pinterest ads are highly cost-effective, with an average cost per click of $1.50, compared to $3.21 for YouTube, $3.56 for Instagram, and $5.26 for LinkedIn (link). This affordability makes Pinterest ads a smart choice for smaller e-commerce businesses with limited budgets.

Combining free and paid advertising tools can yield 3x more conversions and twice the ROI on ad spend (link), further driving the appeal of investing in Pinterest ads.

3/ It’s A Solid Channel Of Sales 📈 

Pinterest's unique positioning among other social media and its focus on helping businesses sell make it a great channel for growing your ecom brand. It’s easy and cheap to get in front of its huge audience. And people there are looking for product ideas, not running away from them as often is the case on other social networks.

What you can do with Pinterest:

• Build a stable organic presence and get millions of impressions.

• Your branded content can get pinned and saved by millions of people and reviewed again.

• Get direct links and traffic to your product pages.

• Get sales both through and on Pinterest.

• Retarget website visitors and pinners who have engaged with your brand in the past. Pinterest users say its algorithm serves the best related product suggestions that are truly relevant and helpful.

• No matter how the sale happens, you get the customer’s email for marketing, unlike other marketplaces.

4/ It’s Creative ✨ 

Pinterest, a hub for inspiration and tutorials, provides e-commerce brands with an ideal platform to creatively showcase products. With Shoppable Pins, businesses can seamlessly link captivating content to their websites, enhancing usability and driving sales.

For e-commerce brands, advertising on Pinterest offers unparalleled opportunities.

🌯 Wrapping it up

If you’re selling anything which can leverage the power of creative display and is worth the eyeballs of an audience who seeks aesthetics, Pinterest is THE channel for you to explore right now! Try it out, and let us know.