Pinterest describes itself as a visual discovery tool that can be used to find ideas for projects and interests, from recipes and DIY tech projects to hiking trails and fashion. It has even been referred to as a top social media selling site, driving more traffic to retailer sites than YouTube and Facebook.
It’s also easy to use, especially with the unofficial Pinterest guide leading the way.
“While search still dominates, social media is becoming a significant source of traffic across the internet as consumers increasingly use sites like Facebook, Pinterest or YouTube more as discovery platforms. For retailers, all eyes are on Pinterest.” Bill Tancer, Experian Marketing Services General Manager
To hone in on this significant source of traffic, here are a few exciting updates that you need to know about.
Buyable Pin Update
Pinterest has announced buyable pins to U.S. Pinners on iPhone and iPad, with an Android option being released soon. Pins with a blue price indicate that a purchase can be made, with the feature also used as a tool to better find what you’re looking for. Pinterest is also working with Apple Pay and other verified credit sources to make sure checkout is simple and secure.
And now that 75 percent of users use Pinterest on their phone, Pinterest says buying and searching on mobile will be easy and seamless.
Searching for buyable pins is also easier, as the Pins will be featured all over the app. They will be shown on your news feed, on top of your search results, and on your favorite boards.
A slider bar can be used to find the right price for the right product that you’re searching for. There’s even an option to save your favorite pin if you decide to purchase a product later.
Over 30 million pins will be made available in the next few weeks. Products from Macys, Nordstrom and other retailers will offer their products to be purchased directly from the app. Thousands of Shopify stores will also have buyable pins available soon.
Merchandisers aren’t left in the dark either as Pinterest promises not to take a cut from sales. Shipping and customer service will also remain the same, which has been mentioned by merchandisers.
In addition, purchases made can help customize what you see on the site, with Promoted Pins being even more relevant.
Promoted Pins to be More Relevant
As mentioned before, the buyable pin update will help Promoted Pins be more relevant to what you like. If you buy camping gear through the app, you may be shown more camping or outdoorsy Promoted Pins.
However, if you find this all to be a distraction, Pinterest explains that you can simply turn off buying history in the “Order History” section and search like you normally did before.
Cinematic Pins to Generate Ad Revenue
Another update you should know more about are the video ads that have been added to the app. Full-motion ads have also been added in an attempt to generate revenue. The video-like ads are referred to as Cinematic Pins.
The pins are unique in that they are only activated when the user scrolls past the ad, and not auto-played like similar video ads on Facebook, which Pinterest hopes will prove their commitment to customer service.
Speaking of Auto-Play Ads
Facebook CEO Mark Zuckerberg claimed after the Ice Bucket Challenge in 2014 that they were receiving around a billion daily video views. During a call with a Forbes analyst in April 2015, Zuckerberg said the number has now risen to around 4 billion daily video views.
According to US Media Ratings council, a view is counted when a video is played for 2 or 3 seconds, whether the video caught the attention of the user or not. With videos auto-playing in news feeds, it is easy to see how Facebook can generate so many views.
Pinterest decided not to even test the auto-video ad idea, as they thought the video ads were more intrusive than engaging.
“What we heard was, auto-play ads are interruptive, and this is so much better because it keeps me in control. We didn’t even bother testing auto-play.” Tim Kendall, Pinterest General Monetization Manager
What Do You Think?
Are you a fan of Pinterest updating their product to be more shoppable? Do you use the app to find what you want to buy on the web? Are you a fan of Cinematic Pins?