True or False? Pinterest traffic doesn’t convert into sales. False!
I hear this frequently, “My CPG costs to acquire new customers have increased significantly over the past two months due to extensive changes in the algorithms by the social media technology platforms. How can I effectively acquire customers beyond Facebook, Instagram, and Google?”
One solution I would like to consider is Pinterest. Often overlooked, Pinterest has become a terrific platform for CPG brands to gain expanded brand awareness AND to market-test new offerings. “As seen on…” is quickly becoming “Pinned on.”
Why?
Key Statistics and Insights: The Power of Pinterest for CPG Brands
High User Engagement
Pinterest has over 498 million users worldwide[Source]. Average users spend 14.2 minutes per visit[Source]. The high level of engagement offers brands ample opportunity to capture the attention of potential customers.
Purchase Intent
An estimated 85% of Pinterest users have made a purchase based on pins they’ve seen from brands[Source]. The data shows a high purchase intent among Pinterest users, making it a lucrative platform for CPG brands looking to drive sales.
Visual Discovery and Shopping
Over 60% of Pinterest users visit the platform to find ideas, products, or services they can trust. CPG brands can effectively use high-quality images and videos to showcase their products and influence buying decisions.
Growing Ad Revenue
A significant portion of Pinterest’s ad revenue comes from CPG brands. This shows the effectiveness of Pinterest’s ad platform in driving brand awareness and conversions.
Mobile Shopping
Over 85% of Pinterest searches are happening on mobile devices[Source]. Pinterest is one of the key players on the web for mobile shopping. CPG brands should leverage Pinterest’s mobile penetration to reach consumers who like to shop on their phones.
Demographics
Pinterest has a primarily female user base. Around 76.2% of its global users are women, who are primary decision-makers for household purchases[Source]. This demographic is valuable for CPG brands primarily in the beauty, health, and home goods sectors.
Increasing Use for Product Discovery
55% of Pinterest users use the app for finding or shopping for products, which is estimated 4x than other social platforms. This makes Pinterest an important platform for CPG brands looking to enhance product discovery.
Want a stress-free product launch on Pinterest? Here are three areas to consider:
Maximizing Your CPG Brand Launch with Pinterest
1. Pre-launch: Focus on Serving and Educating
One of the biggest mistakes is that marketers tend to focus so much on the actual launch details that they miss the opportunity to build up excitement before the launch. This is the phase where you build the runway.
This space allows you to stimulate and educate your target audience and create pre-launch demand and buzz.
What content, including hashtags and boards, can you create before the launch to boost awareness and engagement with followers?
2. Launch
This phase involves sharing “how” your solutions or products deliver value and addressing customer pain points. Delivering value is key!
Planning how to drive the customer towards the purchase decision is critical. We need to make the register ring! Will you have a dedicated marketing landing page on your site? How and where will your customers check out? Make getting to “buy now” as seamless as possible in your posts by providing links directly to purchase. “Add to Cart” or “Discount Coupons” links can be leveraged to create additional calls to action.
3. Post-launch or Repeat Sales
Nearly 3,000 new CPG products were launched last year, and only 15% are still on retailer’s shelves. The fastest path to scaling growth and margin improvement is through repeat sales.
Have you created a community to support your new and existing customers? Can experts engage with your customers in a community forum and add value to your brand experience? Do you proactively offer and update your customer’s relevant supporting information and FAQs? How are you encouraging repeat purchases?
Pinterest may be an overlooked element of your marketing strategy that could help you drive top-of-mind awareness through conversion.
Want to learn more about launching your CPG brand with Pinterest? My DM and email box are open!
