People turn to Pinterest to find all sorts of ideas they can use in real life, like ways to occupy the kids, recipes for dinner and of course things to buy. 93% of Pinners use Pinterest to plan purchases, according to research done last year from Millward Brown. Millward Brown also found that Pinners don’t just browse, they actually spend—87% of Pinners have made a purchase after seeing a product they liked on the platform.
But people wouldn’t be able to discover products on Pinterest without the help of over 1 million businesses on the platform. So to help CPG and retail businesses measure the impact of their Pinterest campaigns on in-store sales, today we’re pleased to announce a new partnership with Oracle Data Cloud, parent of leading data brands AddThis, BlueKai, Crosswise and Datalogix.
Oracle Data Cloud measured in-store sales for 26 Promoted Pin campaigns across major food and drink, household goods and beauty brands, and the results were staggering:
Promoted Pins get people to buy more in-store
Since businesses are so welcome on Pinterest (75% of the Pins saved comes from businesses!), people are more likely to buy a brand’s product in-store after simply seeing a Promoted Pin. In comparison to ads elsewhere, Promoted Pins drive 5x more incremental in-store sales per impression.
Pinterest reaches more high income, existing customers
Pinterest over-indexes on high-income consumers: Nearly 40% of Pinners make over $100k each year. What’s more, the study found that compared to the national average, CPG brands are 3x more likely to reach existing customers on Pinterest—and those customers spent 16% more.
Engagement on Pinterest makes ads extra effective
On Pinterest, people don’t just scroll past ads, they click and save them to their personal collections. This high level of engagement is a huge signal of intent—Pinners save Pins so they can easily refer to them later, like when they’re at the grocery store and want to buy the brand of pasta they saw in a recipe Pin.
But keep in mind that when someone saves a Pin, they’re also distributing content. Each time someone saves a Pin, it spreads to their followers and more. According to Oracle Data Cloud, those earned media impressions double the incremental sales lift of paid impressions — campaigns are effective for people even if they didn’t get a specific paid impression. The study also found that more engaged Pinners are even more likely to have strong buying behavior. People who engage with Promoted Pins are 12% more likely to be buyers of that brand.
Together, these results prove that there’s a powerful connection between behavior on Pinterest and behavior offline, but it’s only the beginning—we’re excited to see more results from the partnership with Oracle Data Cloud.
[By Angela Reynar] [From Pinterest for Business]