Pinterest announced in early June the release of Buyable Pins – a new way for merchants to sell products through Pinterest’s mobile app. The pins are advantageous for both consumers and merchants. Buyers can make an easy purchase and businesses can reap the rewards from customers who love to shop. If you have a product that is easy to sell on Pinterest, you’re probably curious as to how Buyable Pins can boost sales.
Let’s take a closer look at how Buyable Pins are expected to evolve and what this means for your business.
What are Buyable Pins? How do they work?
Buyable Pins are are an easy, secure way for consumers to discover things to buy on Pinterest. Thanks to the new Buy It button, consumers are able to shop for the products they love and buy them without having to leave the app.
Not all products have the Buy It button. Shoppers have to look for the blue button next to the red Pin It button, and this is how they know they can make a purchase right from the app. There is also a new price filter feature that allows buyers to narrow down their search based on price. The checkout process is safe and secure and accepts both Apple Pay or credit cards.
When will Buyable Pins be launched?
Buyable Pins started emerging in late June for iPad and iPod users in the US. Pinterest focused on this group first because Apple users tend to do more Pinning than other users. Buyable Pins are expected to roll out to Android and desktop users in the near future, though no official date has been set.
How many products will have Buy It buttons?
Don’t expect too many products to have Buy It buttons just yet, as the launch is brand new and merchants are just getting familiar with the new feature. But as more businesses see the potential that Buyable Pins have, expect to see more products receive the Buy It button. Pinterest hopes to have two million Buyable Pins active this summer.
How can I start selling my products this way?
If you have an online store with Shopify, you can get started with Buyable Pins right away. Add the Pinterest sales channel in your Shopify admin and get ready to sell. If you don’t have an account with Shopify, you’ll need to sign up for one and a Pinterest sales channel.
For now, Shopify is the only platform that is available for small and medium businesses that want to sell on Pinterest. Larger companies, on the other hand, sell through direct partnerships with Pinterest.
What makes Pinterest a great platform to sell on?
With so many platforms to sell your products and services on, you may be wondering what makes Pinterest special. Is it really worth it to use Buyable Pins? Only you can be the judge, but consider these statistics from Shopify and Pinterest.
The average amount spent per order is $50, which is higher than other major social networks.
Pinterest is the number two source of social media traffic to Shopify stores.
2 million people post product pins each day.
93% of people use Pinterest to plan purchases.
96% of people use Pinterest to gather product information.
87% of Pinterest users say they have purchased something they discovered while Pinning.
Well, if that’s not food for thought, we’re not sure what is!
Is there a difference between Rich Pins and Buyable Pins?
Rich Pins allow content creators to add information to their Pins to inform customers and help the product sell. Rich Pins provide a lot of value to shoppers and include map location, product information and app installs. Buyable Pins, on the other hand, allow Pinterest users to shop and make purchases securely without having to leave the app. Both types of Pins build on each other, but they have different purposes.
How do I get started?
If you feel that Buyable Pins would be a good fit for your business, start by setting up a Shopify online store, if you don’t already have one. Then install the Pinterest channel and wait to be approved. Once this happens, any product that has ever been pinned from your online store will have the option to become a Buyable Pin. It’s as simple as that.
Buyable Pins make it easy for consumers to make purchases, but you still need to promote your products and encourage customers to Pin them and share them with friends.
Are there any issues I should be aware of?
The only issues that may stand in your way are incompatible payment gateways, prohibited items or unsupported currencies. As long as you don’t have any problems with these, moving to Buyable Pins should be straightforward and simple. Since Buyable Pins are only open to US users, you shouldn’t have a problem using a compatible payment gateway, shipping to the US only and offering products in USD.
I’m still on the fence. Should I jump at this opportunity or wait it out?
Only you can decide whether or not Buyable Pins will be good for your business, but it certainly doesn’t hurt to try. As more users become aware of Buyable Pins, they will use the filters to search for these products, much like the Buy It Now button on eBay. How many times do people shop on eBay but don’t want to go through the bidding process? They filter their search using the Buy It Now button, and they order the product right there and then.
Also consider that many people who use Pinterest have the ultimate goal of buying something, so it doesn’t hurt to make the desired goal easier. If your customers can shop on the app and buy the product in a secure manner, this will encourage more sales at no added cost to you. (Yes, Buyable Pins are completely free.)
Finally, Buyable Pins are very new, so not many merchants are using them yet. They either don’t know about them or are still deciding on whether they want to use them, so now is a good time to get ahead of the competition and offer your customers something that your competitors may not have.
Here are a few signs that you’re ready for Buyable Pins:
You’re comfortable being the first to try something.
You have the means to offer great customer service.
Your audience is mostly female. (This trend will probably be well received by females more than males.)
Your audience is heavily mobile.
What do you think about Pinterest’s Buyable Pins? Will you be taking advantage of them?