Guest Post by Rani Monsoon
It’s not hard to understand why retailers are pinning their online commerce hopes on Pinterest. The user base is predominantly educated women with disposable incomes. Shoppers on the social media website spend nearly $170 per session – nearly double that of Facebook and Twitter. Plus, it’s much cheaper for brands to attract new followers on Pinterest than on other similar social sites. Pinterest, which was the fastest standalone website to hit 10 million unique visitors a month, now has 25 million members.
The allure of Pinterest was reiterated in March with a new email campaign from high-end retailer Neiman Marcus dubbed “Our Spring Must-Haves.” Each item – the Kate Spade fit-and-flare dress and the red Valentino studded bag – had its own “Pin It” button to easily add to a board.
Pinterest Users Spend The Most
E-commerce experts say Pinterest generates more dollars per users than some other social media sites, according to Reuters. Pinterest shoppers, on average, spend nearly $170 per session, according to a study by RichRelevance, an e-commerce consultant, which tracked 700 million shopping sessions. In comparison, Facebook shoppers spend $95 per session, while Twitter shoppers spend $70.
Major retail brands with a presence on Pinterest include:
- L.L. Bean, with more than 5 million followers
- Nordstromwith more than 4 million followers
- Lululemon with close to 2 million
Other major players like Gap Inc and Urban Outfitters Inc have fewer followers on the site, but are growing.
Pinterest Marketing Costs Are Lower
The marketing cost to businesses of acquiring new users is lower than other sites, says Daniel Maloney, CEO of PinLeague, a consultancy that tracks social media usage.
“The current cost of acquiring a Pinterest follower is a penny to 50 cents, depending on type of business. That compares to 50 cents to $2.50 on Facebook,” he said.
NARS Pinterest Campaign
In March, Cosmetics company NARS partnered with three popular Pinterest users to offer early, exclusive access to its new Satin Lip Pencil collection. For a week leading up to the collection’s full release, NARS fans could purchase the pencils simply by clicking on product images pinned to the boards on Pinterest.
Key components of success, according to Mashable:
- Nars didn’t simply select the three most popular pinners for the campaign. Instead, using Pinterest-specific analytics tool Pinfluencer, the company identified three users who already had driven significant traffic to its website.
- Pinterest is consistently one of the top 10 referrers to NarsCosmetics.com, according to the company. But little of that traffic comes from Nars’ own Pinterest account. It comes from other users pinning on the Social Media site – hence the partnership.
Original post was published at Rainmaking Marketing blog.