E-commerce grew 20% for Costco in fiscal 2015—20 times faster than store sales.
The “do-it-yourself” Promoted Pins tool allows marketers to promote their pins and access more detailed analytics about how consumers interact with their content.
Pinterest is working with online retailers Shutterfly Inc. and vineyard vines to test a self-service tool that lets them promote their pins to ensure more consumers see their products.
The social network says that when it rolls out the “do-it-yourself” tool more broadly it will charge advertisers on a cost-per-click basis.
Pinterest also announced today it has enhanced Pinterest analytics by letting marketers see how pins from a brand’s Pinterest profile perform; which pins and boards drive the most impressions, clicks and repins; and which pins drive engagement across different devices. Pinterest’s analytics tools previously only let marketers dig into the demographic data of consumers who pin from a brand’s site.
“Many of you have asked for more detailed insights to help you figure out what to pin, and this new version will help you do just that,” writes Jason Costa, Pinterest product manager in a blog post.
Pinterest allows consumers to share favorite products by pinning images from around the web, creating an online collection of pictures. Consumers add their pins to boards that group pins together around a particular theme—for example “Dream kitchen.” Consumers can also repin images that others have pinned, and endorse others’ pins by clicking a Like button.
The social network is the 12th most-visited site in the United States, according to Alexa Internet Inc., a subsidiary of Amazon.com Inc., and the average visitor spends more than 7 minutes and 7 seconds per visit on the site.
Shutterfly is No. 50 in the Internet Retailer 2014 Top 500 Guide and No. 124 in the 2014 Social Media 500, which ranks the leaders in social commerce by the percentage of web site traffic they receive directly from social networks.