As we hurtle forward into the digital future, brands are constantly on the lookout for innovative platforms that can effectively boost their marketing strategies. Pinterest, a visual discovery engine with over 400 million users worldwide, has emerged as a promising platform for e-commerce marketing. Offering a unique blend of visual content sharing and search engine functionality, shows the power of Pinterest Ads for E-Commerce Success in 2023.
Pinterest: A Paradigm Shift in E-Commerce Marketing
Often underestimated in favor of social media titans like Facebook and Instagram, Pinterest has quietly carved a niche for itself in the digital marketing landscape. With its user base exceeding the likes of Reddit and Twitter, Pinterest is no longer just a distant contender. It’s a leading player in the arena of social media marketing.
In 2021 alone, Pinterest saw a significant growth of 20% in shopping engagement, outpacing many of its competitors. The platform’s ability to host a diversity of digital content, from captivating images and videos to detailed guides and blogs, makes it a versatile tool for e-commerce marketing.
The Case for Pinterest Ads: Five Compelling Reasons
The advantages offered by Pinterest go beyond its massive user base and diverse content capabilities. Here are five reasons why e-commerce sellers should seriously consider including Pinterest ads in their marketing mix for 2023.
1. Economical Marketing Investment
Pinterest offers an affordable advertising solution for e-commerce businesses, boasting an average cost per click of around $1.50 in 2021. This figure is significantly lower compared to Instagram, which had an average cost per click of approximately $3.56.
Pinterest’s cost-effective ad pricing extends to brand awareness and engagement campaigns too. You can expect to pay between $2 and $5 per thousand impressions for brand awareness, and between $0.10 and $1.50 per engagement for boosting engagement. Notably, Pinterest also records higher engagement rates compared to most other social media platforms, making it an economical and effective marketing channel.
2. Traffic Generation Powerhouse
Pinterest is more than a social media platform—it’s also a powerful search engine. A whopping 89% of Pinterest users utilize the platform for planning new projects, indicating the platform’s potential as a traffic driver.
E-commerce sellers can capitalize on both organic and paid strategies to channel traffic towards their websites. Organic posts can include product links, while paid ads can help increase visibility and reach.
3. Sophisticated Targeting Features
Pinterest’s advanced targeting options allow e-commerce businesses to focus their efforts on specific customer segments. Advertisers can create audiences based on existing customer lists, site visitors, or even new audiences with similar characteristics to existing customers.
Furthermore, Pinterest enables advertisers to customize their ads to cater to pinners’ specific interests, keywords, and demographic groups. With around 5,000 different interest groups and limitless demographic filters like location, device, language, gender, and age, Pinterest’s targeting capabilities are truly sophisticated.
4. High Conversion Potential
Pinterest ads have shown to yield conversion rates between 1.5% and 8.5%. While this range may seem broad, the actual conversion rate will depend on factors like targeting strategy and content quality.
The platform’s user base, known for actively seeking purchasing information and ideas, presents a golden opportunity for advertisers. By effectively leveraging Pinterest’s search algorithm, which recommends the best results for each query, e-commerce sellers can reach ready-to-buy customers and boost conversions.
5. Ideal for Visual E-Commerce
Given its visual nature, Pinterest is a perfect match for e-commerce. It allows sellers to visually showcase their products, share content relevant to various stages of the buying cycle, and even link product images directly to their e-commerce site through “Shoppable pins”.
The introduction of Rich pins, which provide direct information about a product’s price, further simplifies the purchasing process for customers, thus enhancing their shopping experience.
A Worthy Investment: Pinterest Ads for E-Commerce
Despite not being the most hyped social media platform, Pinterest should not be overlooked by e-commerce sellers seeking to boost traffic and conversions. By providing all the necessary tools to engage and convert your target audience, Pinterest can be a game-changer for your e-commerce business.
However, to ensure the success of your Pinterest ads, it’s essential to track their performance. Consider partnering with a solution like BeProfit, which can help you effortlessly calculate gross profits, margins, and track the ROI of each campaign.
So, if you’re contemplating the next big move for your e-commerce business in 2023, Pinterest ads could be the answer. Harness the power of Pinterest and embark on a journey towards unprecedented e-commerce success.