Pinterest is a goldmine of inspiration and ideas. But it is also a wonderful way to learn about new products; a fact that is not lost on the marketing world. Not only is Pinterest growing at an amazing rate (The site reached 10 million monthly unique views faster than any other standalone site in history, according to Tech Crunch); it seems to be inspiring folks to purchase stuff. A lot of stuff. Do you find yourself buying things you discovered on Pinterest? Has the site prompted you to ramp up your online shopping?
Let's look at the data, much of which was compiled by Main Street Host:
• 59% of Pinterest users have made a purchase based on an item they saw on Pinterest (Source: Steel House)
• Buyers referred from Pinterest are 10% more likely to buy something than visitors referred from other social networks; and those buyers spend 10% more on average (Source: Mashable)
• Pinterest accounts for 40% of social media driven purchases (Facebook represents = the other 60%) (Source: Mashable)
• Online American consumers report following an average of 9.3 retail companies on Pinterest, compared with 6.9 retailers they follow on Facebook and 8.5 retailers (via Twitter)
Main Street Host also points to research showing that people trust Pinterest more than Facebook and Twitter when it comes to making purchasing decisions. The blog posits that "this trust might stem from the lack of both advertising and incessant self-promotion on Pinterest. Brands are very transparent on the site. Consider Whole Foods, which has close to 41,000 followers. The Whole Foods Pinterest account raises brand awareness and creates brand affinity, but the account is more about promoting a lifestyle rather than selling a product. Authenticity is actually a hallmark of Pinterest etiquette."
(Image: Some e Cards)