Ok now this might not come as a big surprise however the piece from Business Zone does contatin some wonder stats and figures for all you pinners 😉
As the peeps behind Zappos brand which has achieved huge success through use of social media says its presence on Pinterest has been much less financially fruitful than on Twitter and Facebook.
Speaking to Bloomberg, Will Young, director of Zappos Labs, the research arm of clothing company Zappos, said its customers were 13 times more likely to share a purchase on Pinterest than on Twitter and eight times more likely to share on Facebook than Twitter.
But despite that, posts on Pinterest lead to the lowest sales for the company.
Posts on Twitter generate an average of $33.66 an order, Facebook posts amount to $2.08 with sales from Pinterest an average 75 cents. Which is AMAZING for Twitter – I just wonder with their new interest and trending promotion how much the ROI would be!
“Even if a person has 100,000 followers on Pinterest and she pins something to a board called ‘Stuff I Love’, that’s not as big a deal as an endorsement tweeted to 10,000 followers,” Young told the broadcaster.
Pinterest is the latest social network to attract attention and has seen a huge increase in users since its launch in 2010. Earlier this year it raised $100m in financing that valued the company at around $1.5bn.
But a lot of this pinning interest action isnt about selling. In fact, like much of social its about the awareness and the interest and about customer engagement and much. much more (or less depending how you look at it) than sales.
However, Pinterest will move into advertising, be that demographic or keywords alignment, be that data from pics or images promoted. It will do a lot more than most in this realm (I guess) and link into ipad and the psychology of it’s prime target market.
VC backers may have over inflated the offer but I can see how Pinterest will soon do very well in the money making departements – it is doing #greatmarketing – it allows others to do the same and it’s user base is growing virally. All they need to do now is make sure they have mobile on their minds… but that’s another story.