The social network and the data company studied 16 Promoted Pins campaigns by retailers that accept Visa, and it found that 70 percent of sales driven by those campaigns came from new customers, while the sales lift for existing customers was driven up by four times.
The two companies also found that:
- Incremental sales from the campaigns can generate returns of more than $100 for every 1,000 impressions served by retailers.
- Users who engage with Promoted Pins spend seven times more than those who don’t.
- 9 percent of impressions were earned—Promoted Pins saved by users and seen by other users—resulting in 18 percent of incremental sales.
Oracle Data Cloud senior vice president Eric Roza said in a blog post announcing the results:
After months of joint development with Pinterest and Visa, we are excited to enable retailers of all stripes to measure Pinterest’s direct impact on not only online purchases, but also in-store sales, where 93 percent of consumer spending occurs. Oracle’s findings show that Pinterest plays an important role in a retail consumer’s path to purchase, particularly in helping retailers reach new customers and drive incremental sales. Now any retailer with a physical location that accepts Visa–including apparel, home decor, department stores and specialty retailers–can benefit from this valuable analysis with no customer data required on their end.
Our customers love Pinterest for style inspiration and insight into the next key fashion trends. Promoted Pins have been a successful way for our brand to showcase the versatility of our products and reach new audiences in an effective and relevant way.
Readers: What did you think of the findings by Pinterest and Oracle Data Cloud?