Photos tell stories. Much how blogs, then vlogs, were all the rage as they advanced the ways we could share our own experiences, photos have taken center stage. More specifically, Pinterest has become one of the leading social networks, skyrocketing to the top since its launch.
In the U.S. alone, users spend an average of 1 hour and 17 minutes on the site. The site has become a leader in encouraging consumer purchases, leading Facebook 69% to 40%. There is no question that Pinterest is a juggernaut in the social space and shows no signs of slowing down.
New Pinterest Features
As the site grows, it’s adding new features that benefit users, but this latest round of updates especially benefits brands that are active in Pinterest marketing. The new features that have just been released include:
- Product Pins – pricing, availability, where to buy
- Recipe Pins – cook time, ingredients, servings
- Movie Pins – content ratings, cast members
Providing more pertinent information to users equips them with the ability to make more informed decisions on what to buy, what to cook, and what to watch. This new integration is sure to boost the ROI for brands that are currently engaging on the network.
For example, according to an infographic by Wishpond, prior to the launch of “Product Pins,” images with prices received 36% more likes than those without. This means that people were already sharing these photos with their network either by liking or repining for their own communities. With the new additional information, the chances of liking and repining will only increase.
Just two weeks ago the Harvard Business Review wrote an article that stated that 1 in 5 pinners pinned an item they later purchased. That’s a pretty high conversion rate. With this new data, increased liking and repining will we see this number go up to 2 in 5? Maybe 3 in 5?
Impact On Pinterest Users
Pay attention to your own habits when you are on Pinterest. Would information on a recipe like cook time, ingredients and servings help you make a better decision on what to make for yourself, your friends, or your family? Would movie pins with ratings and a cast list give you an idea of whether you’d like the movie or not?
This is just the beginning. It’s not too far fetched to imagine on-site purchases with the right partnerships with online retailers, perhaps Fab.com? Much like Amazon has a one-click option, perhaps on Pinterest those new shoes or new kitchen appliance can be yours by simply clicking on photo and then clicking a “Purchase” button.
Hey, we can dream!