Jewelry ECOMM Tech

How You Can Use Pinterest’s New eCommerce Features Effectively July 17, 2020 (0 comments)

The coronavirus pandemic has inherently changed the future of eCommerce. With more and more people practicing social distancing, shopping online has become more of the norm rather than going to a physical retail store. This has compelled many companies to shift the way that they operate.

Pinterest has seen a tremendous increase in traffic over the past couple of weeks, which plays right into their plan to become the social media platform for eCommerce.

Even before the coronavirus pandemic shook our daily lives, Pinterest was already on their way to dominating social commerce. Even though it has fewer users than other social platforms, it is a powerful tool for selling products online.

Out of their 250 million monthly users, 97% of them say that they use the platform to plan purchases, and 87% of users have bought a product because of Pinterest. On top of that, it has the largest average sales order (around $50) of any social media marketplace, and it’s the second-largest source of social media traffic to Shopify stores.

Even though Pinterest is dominating social commerce, people aren’t flocking to Pinterest to buy products like they do on Amazon – yet. But the platform has set its sights on becoming more of a product discovery engine than a social media platform. And when you think about it – Pinterest does have more in common with Amazon or Google than it does with Twitter or even Facebook. People don’t use Pinterest to interact with other people or share life updates. Instead, they go to look for ideas – and products that you could be selling online.

Until recently, users sought out Pinterest for inspiration and began the buying process on other sites. Now, the platform is looking to change that dynamic with some of their newest features. They are defining themselves as a shopping network – with new features that allow pinners to buy just about anything they want directly from their Pinterest feed.

This is obviously beneficial for the consumer – they can purchase items that are tailored to them directly from Pinterest without ever having to leave the platform – but it also works to benefit retailers. Data supplied from Pinterest shows that most of their users are searching for generic terms – not specific brands. This gives smaller businesses the opportunity to get their products in front of users while they browse in real-time.

Now, let’s take a deeper look at the new features recently added to the Pinterest platform and examine how retailers can leverage them to market to its ever-growing size.

Pinterest’s New (or Updated) Features

Verified Merchant Program

Pinterest has recently rolled out a Verified Merchant Program for retailers on the platform. Pinterest will allow retailers to be verified – giving them the iconic blue (but in this case, red) checkmark – which will make the retailer’s product eligible for distribution on Pinterest’s new shopping experiences (more on that in a minute). Verified merchants will also gain access to new features sooner and have early access to organic and paid conversion insights.

Pinterest Catalogs Pinterest

Catalogs, which gives retailers the ability to upload their product catalog into Pinterest in order to create ads and Shoppable Pins, has been upgraded and efficiently optimized to help decrease the “time from feed ingestion to Product Pin creation”.

This update also comes with new metrics, user experience enhancements and allows retailers to schedule uploads of their feed.

Dynamic Retargeting

Another expansion from Pinterest is their new Dynamic Retargeting options. Brands can now retarget using exact or similar products that users have searched or saved on Pinterest to global markets. This update comes with additional optimization levers to give advertisers more control over their ads as well.

Shopping Experiences

Pinterest has also debuted new shopping experiences across the platform, giving Pinners more options than ever to purchase products they find. You can now shop from boards, shop from pins, and shop from search.

Read the full article on Visiture's blog: https://www.visiture.com/blog/how-you-can-use-pinterests-new-ecommerce-features-effectively/