Pinterest has been the prettiest social network for some time. Now it might be one of the most lucrative too.
Pin the tail on the bargain
A new study from Oracle reveals that Promoted Pins drive five times more incremental in-store sales per impression.
Users who engage with Promoted Pins are 12% more likely to buy from that brand.
Currently over 75% of saved Pins originate from brands.
Pinterest also offers quality over quantity. Close to 40% of Pinterest users rake in over US$100K annually.
What's more, CPG brands are three times more likely to connect with existing customers on Pinterest. Significantly, these customers spend 16% more on average.
Other research from Millward Brown shows that 93% of pinners use the platform to plan purchases, while 87% have made a purchase after viewing a product on Pinterest.