Online shopping is about to get even easier for Pinterest browsers (and they said it couldn’t be done!). Pinterest is rumored to be developing a “buy” button that will allow users to purchase their pins without leaving Pinterest. While Pinterest has not made a formal announcement, sources say it could launch this new feature in anywhere from three to six months.
Currently, Pinterest allows users to create boards where they can pin products they are interested in buying, crafting, gifting, etc. Some of these pins have been able to include pricing and availability, but the user must navigate off-site to continue the purchase process. With the development of the “buy it” button, users will be able to pin and purchase in the same step.
This little button means big things for marketers in the e-commerce world. According to Business Insider, “Pinterest already controls a whopping 23 percent of referral traffic to e-commerce sites. Plus, Pinterest users are 10 percent more likely to make a purchase than people who arrive from other social networks, and they spend twice as much as users who come from Facebook, according to data from Shopify.”
Since individuals typically go to Pinterest for inspiration and ideas, they are already in the mindset to buy. As this button’s development progresses, e-commerce companies in retail and home improvement should definitely be testing, as this platform seems to promise strong conversion rates and big returns.
Another reason to look at incorporating paid dollars behind “buy” buttons is the general direction in which Pinterest is going: monetization. Pinterest recently banned affiliate and redirect links from the platform. This is a huge hit for the “pinfluencer world.” Pinfluencers, just like the faux-noun sounds like, are Pinterest users who have a major influence on the virtual scrapbooking world of Pinterest. Pinfluencers partner with brands to pin branded content. They are typically compensated when the pins refer traffic back to a brands’ website, which is no longer allowed. With this ban, pinfluencers can no longer be credited to the content they curate, and in some cases they cannot be paid. Since Pinterest is known for a platform where you can pay people without buying ads, this change is going to force control into the hands of brands, advertisers, and marketers.
Since Pinterest has not formally announced the button, DEG will continue to be on the lookout for more updates and await the opportunity to test the new function for clients. Stay tuned!