On Pinterest, people look for ideas to try in their real lives—and that means they’re looking for things to buy, too!
As part of our ongoing partnership with Oracle Data Cloud, we looked at 16 Promoted Pin campaigns for retail advertisers accepting VISA in order to measure the impact on in-store and online buying behavior. We found that Promoted Pins drive lots of incremental sales for retailers. 70% of those sales come from new customers—and they’re also driving 4x the % sales lift of existing customers. Pinterest is a powerful place for retailers to reach new customers, who contribute to more sales.
“After months of joint development with Pinterest and VISA, we are excited to enable retailers of all stripes to measure Pinterest’s direct impact on not only online purchases but also in-store sales, where 93% of consumer spending occurs,” said Eric Roza, SVP, Oracle Data Cloud. “Oracle's findings show that Pinterest plays an important role in a retail consumer's path to purchase, particularly in helping retailers reach new customers and drive incremental sales. Now any retailer with a physical location who accepts VISA - including apparel, home decor, department stores, and specialty retailers - can benefit from this valuable analysis with no customer data required on their end.”
The results prove that advertising on Pinterest:
- Leads to a high return on ad spend and sales lift: These incremental sales can generate returns in excess of $100 on every 1000 impressions served for the retailer.
- Corresponds with a strong intent to buy: People who engage with Promoted Pins spend 7x more than people who don't engage, proving that engagement with a retailer’s Promoted Pins is a powerful signal of commercial intent.
- Generates substantial earned media: When someone saves a Promoted Pin, other people see that Pin in their feeds, which drives additional sales, especially among new buyers. Among the campaigns we looked at, 9% of impressions were earned, resulting in 18% of incremental sales.
Banana Republic, who participated in the study, says their Promoted Pins helped illustrate the different ways customers and influencers like to wear the brand’s products. “Our customers love Pinterest for style inspiration and insight into the next key fashion trends,” said Aimee Lapic, CMO of Banana Republic. “Promoted Pins have been a successful way for our brand to showcase the versatility of our products and reach new audiences in an effective and relevant way.”
Results like these prove that retailers can use Pinterest advertising to connect with shoppers ready to buy their products. As these retailers plan their upcoming holiday marketing programs, securing new customers with Promoted Pin campaigns will help them grow their market share in the most important quarter of the year.
—Angela Reynar, currently saving ideas to Summer Dinners