Pinterest is doing more and more to attract business users to its network, and if it goes on like this, it will soon become a market place. At the beginning of August, they introduced a new kind of pin:
In May, we made it easy for you to see the current price of pins from certain websites, but there wasn’t a simple way to tell if your coveted pin’s price dropped. Starting today, we’ll begin sending you an email when this happens. It’s rolling out slowly, so hold tight if you don’t see one right away.
The new feature will encourage ecommerce sites to get product pins for their businesses, just in time for the back-to-school and holiday shopping seasons. Business owners find all the documentation they need on Pinterest for developers.
Pinterest hopes that product pins help business owners to turn pinners into shoppers, and, by providing price alerts, the company challenges other product tracking websites, like PricePinx or Hukkster.
With its dedicated network of very active users, Pinterest has great appeal for businesses already, especially for those with something to sell: Walmart, Target, Neiman Marcus, Sephora, Nordstrom, and so on. In time, Pinterest could evolve to inspire even service providers, hotels and restaurants, to add product pins. Can you imagine booking a hotel room from Pinterest?
Pinterest may not be appealing yet for all businesses, but it is for those that count on visuals to sell. Restaurants and hotels still lack understanding of the network. Many try to create accounts, but fail to engage. This could change with Pinterest price alerts. A hotel that adds pin prices has great chances to attract user interest when the price for the room drops. And since Pinterest is still free for businesses, it would be a pity not to take advantage of these opportunities.
This marketing chart from Marketing Charts shows that Pinterest drives more purchases than Facebook and Twitter – statistics easily ignored by many businesses. To understand how to use Pinterest for business, it is important to understand the demographics of the network, and their interests.
80% of the users are women, sharing recipes, fashion, home decor ideas, inspirational quotes, and beautiful pictures of landscapes. All these pins can inspire a business to better customer experiences. For instance, a restaurant could organize a Pinterest contest to include a recipe on its menu; a hotel could call for young decorators for a renovation project; etc.
Even with slow adoption by some businesses Pinterest still manages to eat into Facebook’s share of ecommerce traffic:
It is obvious that Pinterest is shaping its business to drive ecommerce sales. As everything on the web, success belongs to early adopters, and to those who can envision savvy marketing strategies to drive sales. It is not enough to “pin” an image to make pinners buy. The image needs to be relevant, engaging, tantalizing. Businesses on Pinterest need a visual storytelling strategy to thrive.