The Latest Statistics Regarding Pinterest And Social Network Marketing For E-commerce Sites
Current analyses of the marketing prowess of “Pinterest“, the new social networking website, indicate that it is very competitive with Facebook and Twitter. (1) However, the Devil is in the details.
The Atlantic Wire collected the most recent marketing statistics in order to analyze them to determine what were the noticeable variations in sales generated at each site. The article’s author concluded that the data showed that Pinterest influences consumer purchases, but not to a large extent. Conversely, another study of data collected numbers from the jewelry and accessories site Bottica, in conjunction with Econsultancy.com, stands in stark contrast to The Atlantic Wire article conclusion. Bottica’s data shows that those who use Pinterest spend significantly more than twice as much as users of Facebook and Twitter.
However inconclusive the financial figures are, the bottom line, according to the Atlantic Wire article, is that statistically, people coming from Pinterest were more likely to make a purchase. (1) It would seem that Pinterest’s potential is based on its specific niche in the world of online retailing. According to the Atlantic Wire article linked below, there is no conclusive evidence, yet, that social network marketing creates extraordinary sales. The latest statistics come from Zappos, which has created a site called “PinPointing” that recommends purchases based on Pinterest pins. On the other hand, according to Bloomberg, the data found that Pinterest facilitates buying, but only to a relatively unimpressive extent. An average Pinterest purchase came out to $.75 as contrasted against $2.08 per order from Facebook referrals and $33.66 from Twitter.
Notwithstanding its $.75 average purchase, Pinterest quickly became the third largest social network on the Internet and, a few months ago, was valued at $1.5 billion. Yet, Pinterest obtained a $1.5 billion valuation last May because (unlike Facebook) its fashion oriented Pinboards push people to online retailers, which best case scenario would lead to sales. But, as we can see above, just because Pinterest encourages virtual window shopping, it doesn’t necessarily lead to buying.
From the Pinterest homepage: “Discover, collect, and share inspiration – Pinterest lets you organize and share all the beautiful things you find on the web. People use pinboards to plan their weddings, decorate their homes, and organize their favorite recipes. Best of all, you can browse pinboards created by other people. Browsing pinboards is a fun way to discover new things and get inspiration from people who share your interests.
Join millions of pinners who are using Pinterest to share and explore their interests:
“¢ Find recipes that will surprise your friends
“¢ Plan destinations for your next vacation
“¢ Collect your favorite music videos
“¢ Discover design ideas for your home
“¢ Save and compare items you’re shopping for”
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Source: (1) The Power of Pinterest to Drive Online Sales