E-Commerce Revenue from Pinterest Skyrockets
Pinterest is once again proving its value, as a new study from social marketing and analytics platform Piqora is shedding light on the social network’s strong influence on the e-commerce industry.
The study, which took a look at more than 400 Piqora customers, shows that e-commerce revenue from Pinterest referral traffic grew an average of 67 percent from January to June 2014. Moreover, average order values increased by 8.3 percent in the first half of 2014 when compared to the same period in 2013, while average conversion rates increased by 4 percent.
It is also important to note that the study found overall referral traffic saw a considerable increase, with Visits-Per-Pin increasing by 172 percent and Pageviews-Per-Pin increasing 304 percent for Piqora customers during the first half of 2014.
“The economic value of a pin continues to grow,” said Piqora CEO Sharad Verma. “As more and more consumers make Pinterest their first destination to discover new products and brands, we expect these revenue and traffic results to only accelerate through the rest of 2014.”
Through the Piqora platform, marketers have the tools and insights to optimize their presence on Pinterest in an effort to increase traffic and conversions from the social network. Plus, Piqora recently launched a ‘Pinterest Trends’ product, which enables marketers to collect both industry or category-level insights to benchmark a brand’s performance against competitors on the social network. Piqora was also recently selected to participate in Pinterest's marketing technology developer's initiative with access to Pinterest's Business Insights API.
“Brands are looking for real ROI from their marketing efforts. And Pinterest delivers just that. Not only are marketers are achieving tremendous branding footprint via pins and repins but they are also able to drive traffic with purchase intent” said Verma. “Brands will continue to prioritize and rigorously track business metrics like revenue and traffic, not only follower counts – which is exactly what Piqora helps brands accomplish.”