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A New Trend To Watch: Buyable Pins On Pinterest

It is a fact that people are spending more time online, especially on social media platforms such as Facebook, Snapchat, Instagram, Twitter, LinkedIn and Pinterest. You have probably already used or heard about them all, but lately the one that have been catching people’s attention is Pinterest.

What is Pinterest?

Pinterest is inspired by an old hobby from the 90s: pin boarding. The premise of this is that you can create mood or inspirational boards by ‘pinning’ images, materials or other mediums onto a board. As the name states, you can “pin” the images of your “interest”.

In Pinterest, a user can create a profile and start their own board, which can be divided by category or leave all the images together. Pinterest has basic interactive features such as share, like, save and the ability to follow other users.

This platform has had a huge success around the world, and has grown by 2702% since May 2014. According to Adcorp, it has had even more online traffic than YouTube, Google+ and LinkedIn combined!

Pinterest has acknowledged that online businesses are having great success marketing their products by utilising the app, which has added a new feature called Buyable Pins. Buyable Pins make it even easier for a user to buy a product straight from a Pinterest page. Where previously there was a ‘Pin It’ red button, now a product can have a “Buy it” blue button, meaning users can now purchase straight from the page through either Apple Pay or by credit card.

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Pinterest currently has 30 million buyable pins from various retailers, including world-famous brands such as Macy’s, Neiman Marcus and Nordstrom, as well as e-commerce sites powered by DemandWare and Shopify. There are already over 30 million products available that can be purchased using the new ‘Buy it’ button.

The good news? Pinterest is not charging businesses to use this feature (for now!) as they say it is a way of getting new users to the platform.

According to Marketing Land, a study found that small businesses that are using Buyable Pins as a new channel of selling their products are bringing in new customers with a wide reach, and increasing sales.

So should I be utilising Pinterst for my Business?

Users are growing in New Zealand as well as worldwide. So is Pinterest marketing something that you should be employing for your business?