eCommerce Hosting News By Eshop Hosts 18.5.2012 No Comments
Interesting Social Media News for eCommerce

Are You Keeping Up to Date with Social Media for eCommerce

The Social Media sites have dominated the news recently, most Social Media headlines have been about Facebook and its recent IPO which means that its new shares will start trading priced at $38 each on Friday. Other, not so common place news is regarding the Social Media newcomer Pinterest which also had a boost to its valuation this week.

Overshadowed by the coverage of Facebooks share price, other noteworthy news is that Pinterest raised $100 million which was based on a staggering $1.5 billion valuation with investment being led by a company called Rakuten which is the largest ecommerce site in Japan. Pinterest was valued at $200 million as recently as October 2011.

Some interesting Statistics

The usefulness of Pinterest for online shops is clear and its layout and use of images to promote goods or services online is a brilliant way to get your products noticed and drive traffic to your ecommerce website. Given the huge investment by the Japanese eCommerce company, we decided to investigate and look for some interesting facts and staistics to see why a company would invest so heavily into such a new Social Media like Pinterest.

pinterest for online shops

Pinterest Users

Pinterest has increased its number of Daily Users by 145% since January 1st 2012 and has seen an increase of 2700% over a 12 month period since May 2011. This user base growth is bigger than the growth seen by both Facebook and Twitter when they were at similar stages after their launches.

Getting Pinned

If any of ecommerce site products get ‘pinned’ by a pinterest user then expect to get 36% more likes if your product is pinned with a price tag than without, more likes will generate more traffic and more sales. Statistics show an average of 1.1 likes for pins without a price and an average of 1.5 likes for pins that have price tags.

Revenue Generating Traffic to eCommerce websites

The amount of revenue generated on eCommerce websites from traffic referred by the Social media sites over the last six months has seen some notable changes. While Facebook referred revenue generating traffic has slipped from 89% to 82% Twitter has seen a fall from 10% to just 1%, over the same period Pinterest has been seen an increase from 1% to 12% of the share in revenue generating referrals. It is stated that the reason for this is due to the image layout on Pinterest makes it easier for users to find what they are looking for.

Pinterest Users are Buyers

Recent reports have shown that Pinterest users referred to your eCommerce website are 10% more likely to purchase on your website than referrals from other Social Media Networks, Pinterest referrals are also likely to spend 10% more than referrals from other Social Media websites and are 70% more likely to purchase than a referral from a regular website link.

Easier to Build a Followers List

Some Online merchants are finding that it is easier to build a followers base on Pinterest than it is on Twitter meaning it is much easier to connect with existing and potential customers, some have even reported that their follower base on Pinterest is now much larger than their longer established Twitter account followers.

Adding Pinterest to Your eCommerce Website

Adding a Pinterest ‘Pin It’ button to your online shop makes a lot of sense if you haven’t already, especially given the data and statistics above.

There are free modules and plug-ins available that you can install on many of the Open Source shopping cart software such as Zen Cart, Open Cart, Prestashop, Magento etc to display the Pinterest ‘Pin It’ button on your online shop product pages so it seems to be a wise move to get it installed as soon as possible to benefit from an increase in buyer traffic.

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