From pin to purchase. Today, Pinterest unveiled its latest suite of features built for business and catered to customers at the tail-end of their product discovery.
Championing visual search and personalizing product discovery, the features are part of a yearlong effort in attracting users at the tail-end of their product search — essentially converting Pinterest discovery into product purchases.
Among the rollout are features such as “Catalogs” and “Shopping Ads,” allowing retailers and brands to transform visual imagery into shoppable product catalogues that drive traffic directly to their web sites.
In a backend catalogue manager dashboard, retailers can upload their product catalogue, organize products and have them discovered and purchased by Pinterest users.
The features expand on Pinterest’s visual search foundation aiming to deliver personalized recommendations to users, while giving retailers a platform for building brand awareness and acquiring new business.
“Taste-based personalization,” according to Amy Vener, retail vertical strategy lead at Pinterest, is the clear benefit consumers gain from Pinterest. And since users consume Pinterest content with what Vener calls a “planning mind-set” the risk for ad saturation is dismissed.
Vener outlines a “natural harmony,” citing a GfK (standing for Growth for Knowledge) study wherein 83 percent of weekly Pinners have made a purchase based on the content they’ve seen on Pinterest.
Recently, Levi Strauss & Co. partnered with Pinterest to create hyper-personalized style inspiration boards in an initiative called “Styled by Levis.”
Sustainable footwear brand Rothy’s and “modern furniture” company Room & Board have also partnered with Pinterest on the new features, seeing referral traffic from Pinterest grow more than 35 percent month over month and a 51-times return on ad spend on “Promoted Pins campaign,” respectively.
Visual search technology may enable a quicker path to purchase for consumers in a discovery stage.