The home retailer automatically created Pins for millions of products through shopping campaigns, boosting incremental traffic and revenue while staying within their cost targets.
Capturing incremental customers
Everyone should live in a home they love. That’s how home retailer Wayfair sees it. With more than 8 million products from over 10,000 suppliers, Wayfair wants to help people find the exact products that fit their needs, style and budget. To fulfill their goal of providing the best possible shopping experience for the home, the company offers award-winning customer service and a wide selection of products across all styles and price points.
Active on Pinterest since July 2014, Wayfair knows that connecting with Pinners pays off. Pinterest reaches 40% of people who’ve made home décor purchases in the previous six months,1 and Pinners spend 27% more on home décor than non-Pinners.2 Wayfair’s own data shows that customers acquired from Pinterest have historically been high-value, spending more than the average.
When Pinterest launched shopping campaigns in late 2016, Wayfair saw an opportunity. As shopping campaigns are targeted to search, the company understood that the direct-response ads would help them connect with people looking to buy. And because Pinners are open to trying new brands—97% of searches are unbranded—Wayfair thought they could gain incremental traffic and boost revenue while staying within their cost goals.
“We were excited to try this ad format because customers acquired on Pinterest have historically been high-value in our prospecting advertising channels.”
Answering searches with specific products
Before jumping in with both feet, Wayfair first tested a few shopping campaigns in December 2016. The results were positive, so the home retailer expanded the platform to the rest of their catalog just four months later.
Pulling product info and images directly from the company’s online catalog, Wayfair’s shopping campaigns have now created Pins for each and every one of their millions of products—automatically. This automation helped the home retailer quickly scale up their advertising efforts in a number of ways. Not only did Wayfair save hours of time on creating ads, but shopping campaigns also allow them to dynamically update ads based on inventory levels. Additionally, the sheer volume of available Pins ensures the home retailer now reaches millions of high-intent customers as they hunt for the products they have in mind.
Since launching their shopping campaigns, Wayfair has reached potential new customers, increased traffic to their website and boosted revenue, all while keeping costs under control. Return on ad spend is now trending in the target range. Wayfair believes there’s still room to improve, and sees plenty of growth opportunity for their shopping campaigns in the years ahead.
1ComScore, 3-month average, Feb-April 2017
2Oracle Data Cloud, Pinterest retail audience profile report, April 2017
“In addition to overall incremental scale, we saw meaningful value in unpaid shopping traffic coming from users pinning shopping ads. This has confirmed that there is certainly an audience on the platform for this type of ad format.”