Solidifying Pinterest’s value as a sales driver, new research revealed that revenue driven by the platform on Cyber Monday was more than three times greater than the site’s average. According to social marketing platform Piqora, revenue was up by 2x over the whole Thanksgiving weekend and up by 3.6x on Cyber Monday, specifically.
Interestingly, this is despite the fact that traffic on Pinterest remained unchanged. Meaning that while the same number of people logged on, more of those people were, as founder and CEO of Piqora Sharad Verma put it, in “‘buying’ mode and less in ‘collecting or discovery’ mode.”
“This proves that people aren’t just pinning for the sake of pinning,” Verma added. “They are pinning to buy and they are going to Pinterest to look for products to buy. This never happened before with F-commerce [Facebook commerce] or Twitter.”
Of course, we’ve learned that in the grand scheme of things, social media platforms like Pinterest don’t actually drive a whole lot of sales. Plus, new customers acquired through social media aren’t all that valuable in the long run. Yet, of those platforms, Pinterest seems to be the most successful at attracting people who want to shop.
Verma says retailers can capitalize on this by optimizing their websites for pinning and by actively pinning themselves, since doing so increases visibility. “The higher the share of pins, the more clicks and ultimately, more revenue.”