Pinterest. The hottest social network around that everyone has heard of but doesn’t know how to use. As the fastest growing social network ever, Pinterest has proved its market value and I believe Pinterest will be one of the key networks to the future of online sales.
73% of Pinterest users use the platform to find inspiration on products they want to buy as opposed to only 17% who use Facebook for the same reason. Granted, Pinterest is more visually target to consumers who want to find inspiration but a social network will always be a social network and because of that, they will always be compared.
Looking at the traffic from Pinterest, consumers are 10% more likely to make a purchase compared to those who network on the other social media sites. This is a huge indication that Pinterest is proving a hit with consumers and they will ultimately be the force of online sales for the future.
Pinterest is the third most popular networking site, with only Facebook and Twitter as competition (for now). Since January 1st 2012, Pinterest has seen 145% increase in its daily number of Pinterest users. Unique visitors are up by 2,700% from May last year and Pinterest’s overall growth is much better than Facebook and Twitter at the same point in their history.
With the ability to offer prices on products you pin inside of Pinterest, it allows consumers to make a decision there and then regarding purchasing products. Facebook and Twitter are struggling visually to compete with Pinterest. Referral traffic coming to Pinterest is actually 3.6% more than LinkedIn, Google+ AND YouTube combined! When a social network can outrank the second largest search engine in the world when looking at referral traffic, you know they are doing something right.
Overall brands are finding it a lot easier to connect with their target market inside of Pinterest than any other network. The ability to follow and re-pin your favourite products always retailers to really understand their business and the products their target audience wants to see.
Did you know than the average order price from Pinterest is leading Google, Amazon, Bing, Yahoo! and is DOUBLE Facebook’s average order price? This shows how ready Pinterest users are to purchase products based on the images they can see.
I am a firm believer that if a business uses Pinterest the right way, it will really benefit their business. Pinterest is in my opinion, one of the factors contributing to the future of online sales. Do you agree?