It May Be Pinterest-ing, but Will It Grow Your Business?

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Does Pinterest Work for Business?

Let’s start with the amazing facts:

• As of February, Pinterest had 25 million users. (Business Insider)
• As of September, Pinterest has 70 million users.

United States

• Pinterest shoppers are spending significantly more per checkout averaging between $140-$180 per order compared with consistent $80 and $60 orders for Facebook and Twitter shoppers, respectively. (Rich Relevance)
• U.S. consumers who use Pinterest follow an average of 9.3 retailers on the site. (Shop.org)
• Pinterest accounts for 25 percent of retail referral traffic. (Rich Relevance)
• Pinterest is now the third most popular social network in the US in terms of traffic.

United Kingdom

• There are more than 200,000 active Pinterest users in the UK.
• 29% of UK users are in the highest income bracket.

Pinterest Case Study: Jewelry Retailer Boticca

• Jewellery retailer Boticca found that after integrating ‘pinning’ buttons across its website, Pinterest became its number one social referrer, assisting roughly 10% of sales, compared to 7% from Facebook.
• Furthermore, Boticca found that Pinterest users spend more than twice as much as Facebook users ($180 vs. $85), and the site drives higher numbers of new customers. 86% of visits from Pinterest are new to Boticca compared to 57% from Facebook.

Is Pinterest Good for Business? (econsultancy.com)

• 25% of Fortune Global 100 companies have Pinterest accounts.
• Pinterest pins with prices get 36% more likes than those without.
• 43% of Pinterest members agree that they use Pinterest to “associate with retailers or brands with which I identify”, compared to just 24% of Facebook users who agree to the same use with Facebook.
• According to a study by Convertro, Pinterest represented 17.4% of social media revenue for e-commerce sites in April 2012, up from just 1.2% in Q2 2011. The data was taken from 40 of its clients, most of which are top 500 internet retailers.
• According to a Bizrate report 69% of online consumers who visit Pinterest have found an item they’ve purchased or wanted to purchase as compared to only 40% of online consumers who visit Facebook.
• The survey, which interviewed 7,431 online buyers from August 9 to 17 2012, also found that significantly more online consumers agree that Pinterest is a place to “get inspiration on what to buy” and “help keep track of or collect things I like.”

Here’s an infographic by Wishpond illustrating how users interact on Pinterest:

Pinterest for Traffic

Without a doubt, Pinterest is the best choice for business owners who want to build traffic to a business website.

At Pinterest, you can create a business account without first creating a personal account.