Pinterest Adds Measurement Partners To Promote Proof Of Brick-And-Mortar Sales Lift
On average, Pinterest users spend 78 percent more on retail overall -- now brands are promised greater insight behind those numbers from the image sharing platform.
As challenges mount against Pinterest’s dominance on image search for brands, the photo sharing platform has signed up six major measurement providers to help deliver a message to marketers: “Pinners” are heavy shoppers across retail, consumer packaged goods, and other categories typically associated with brick-and-mortar purchases.
Pinterest advertisers can now tap brand lift measurement and related insights from Acxiom, Analytic Partners, IRI, Neustar MarketShare, Nielsen Catalina Solutions, and Nielsen Digital Ad Ratings. These new partners join eight existing measurement partners in Pinterest’s Marketing Partners program.
“People associate Pinterest with taking action,” writes Gunnard Johnson, head of Measurement Science and Insights at Pinterest, in a blog post. “98 percent of Pinners report trying new things they find on Pinterest, compared to an average of only 71 percent across social media platforms. Before they even open the app, they intend to act—and then Pinterest guides them to a confident decision.”
Among the kinds of information Pinterest will be promoting to show off its store traffic and sales lift prowess include this insight from Oracle Data Cloud, which found that people who use Pinterest shop and spend more than the general public.
Looking across a mix of categories, including retail, CPG and automotive, Oracle reported that Pinners are 39 percent more likely to be active retail shoppers—and when they shop, they spend 29 percent more than people who don’t use Pinterest.
“Overall, our average CPG sales lift increased 82 percent in 2016, over 2015 rates,” Johnson wrote. “The Oracle Data Cloud analysis showed that 92 percent of Pinterest CPG campaigns measured drove a positive lift in sales.”
Pinterest has been rolling out a number of features designed to keep pace the aggressive pace of social media marketing tools from Facebook, Snapchat, and Twitter. In February, it rolled out a new search function that aims to match discovery to images, not words.
Dubbed Pinterest Lens, “it lets you use the camera in your Pinterest app to discover ideas inspired by objects you see out in the real world,” the company said at the time.
Part of Pinterest’s pitch is that brands “see more than sales lifts—they see strong campaign ROI, too,” Johnson says.
When Analytic Partners studied Pinterest campaigns in the context of total marketing spend, Pinterest delivered $2 in profit for every $1 the advertiser spent on Pinterest.
“That outperformed all other categories, including digital as a whole, TV, and channels like print or out of home,’ Johnson says.
Despite the wider measurement coverage, Pinterest still lacks a dedicated location-based attribution solution that directly links seeing a Pin to store traffic and sales. But as the attribution wars heat up, it’s likely that Pinterest will be adding one sooner than later.