If you own a retail business, you’ve probably heard that Pinterest has a lot of potential when it comes to promoting your products and attracting new customers.
Pinterest delivered some big results for marketers in just a few years, and based on new data released this week, could have plenty more to offer in the years to come.
Read about this top story, plus find out how other small businesses are planning to use sites like Pinterest to attract new customers this holiday season, in this week’s marketing news roundup.
1. Pinterest continues to perform well for e-commerce businesses
According to new data from Piqora, the value of a pin on Pinterest has increased by 25 percent in the last year.
Piqora found that on average, a pin generates 78 cents in sales for e-commerce businesses.
Engagement on Pinterest also improved. Pinterest pins deliver two site visits and six page views on average, and more than 10 re-pins. For comparison, a post on Twitter is retweeted 1.4 percent of the time.
Bottom Line: Pinterest has been delivering impressive results for online retailers for quite some time. A large part of the reason is because Pinterest users approach the site with more of a “shopping mentality” than they do with other networks. One study found that 70 percent of Pinterest users visit the site to get inspiration on what to buy.
If you’re a retailer looking to add something new to your marketing strategy in 2014, Pinterest is a great place to start.
2. 33 percent of small businesses rely on social media for holiday marketing
According to a report from American Express, one-third of small businesses will use social media to market their business this holiday season. Of those planning to use social media for their holiday promotions, 70 percent say it will be helpful in attracting new customers.
The survey asked a number of questions about the upcoming small business shopping day, Small Business Saturday.
Of those planning to participate in Small Business Saturday, 75 percent said the day would be more effective if communities participated together in hosting events. 39 percent are planning to collaborate with other small businesses in a community event.
Bottom Line: Last year, consumers spent an estimated $5.5 billion at locally-owned stores and restaurants on Small Business Saturday. With holiday sales expecting to reach record levels this season, it’s the perfect time for you to get in on the action.
Not sure where to start? Find out how you can win big this holiday season.
3. Twitter unveils new “custom timelines”
Twitter revealed a new feature this week that will give users the ability to create their own timelines around a particular topic or event.
The new “custom timeline” feature will create a custom page within Twitter, which users can use to add tweets from across the social network. Each custom timeline is public, and can be embedded outside of Twitter on a website or blog.
At this time, the new feature is only accessible if you’re using Twitter’s web-and-downloadable software, Tweetdeck.
Bottom Line: As a small business, there are a number of ways you can use Twitter to create content for your own marketing efforts. If you’re planning an event, consider using an event hashtag to help start a conversation amongst event attendees.
You can use the new “custom timeline” feature to organize your favorite posts from the event and can share it on your website, blog, or even provide a link in your next email campaign.
Are you using Pinterest to market your business? Has it been effective? Let us know in the comments below.