Taking advantage of Pinterest Product Pins to drive online sales

If you are an online retailer and have not paid much attention to Pinterest, we recommend you get on board really fast.
Last month, Piquora released the first scientific study to quantify the economic value of a pin.

Here are the key findings from that research:

  • On average a Pin generates 78 cents in sales – this is up by 25% from Q4 2012
  • On average a Pin drives 2 site visits and 6 pageviews
  • 50 percent of visits happen after 3.5 months of first Pinning – Pins get discovered long after they’re born and continue driving visits to sites. This is because discovery on Pinterest today is Feed Driven for fresh pins and is Search/Navigation driven for older pins. Other social networks like facebook and twitter are primarily feed driven with little or no browsing behavior. Also Pinterest Board pages can rank on Google long after the original posts.
  • 50 percent of orders happen after 2.5 months of pinning. When a product is on Pinterest – it signals that the product is worth buying. That creates a strong latent demand for products. Popular pins continue to get discovered via search and navigation.
  • On average, a Pinterest Pin generates more than 10 Repins – Pins are 100x more viral than tweets, which on average only get retweeted 1.4 percent.
  • There’s an 82 percent jump in Repin/Pin Ratio for some brands with Rich Pin integration. Rich Pins may increase a brand’s reach on Pinterest.

We would like to delve into a recently launched feature called “Rich Pins“.

Currently, there are 5 types of Rich Pins, Place Pins, Article Pins, Recipe Pins, Movie Pins, and Product Pins.

The one that should be especially useful to online merchants is Product Pins that make it easier for people to find the products and purchase them.

Product Pins allow merchant’s website feed the product’s real-time data such as pricing, availability, rating, related items, etc.

What product information can be included in Product Pins

Old standard for Pins only includes a link and description. Savvy users could manually add a static price tag as part of description. That price-tag functionality is now deprecated in favor of Rich Pins.

Rich Pins functionality brings a lot of changes, good changes.

Currently, besides product URL, title, and description, Product Pin fields that are worth noting include:

  • Store name
  • Currency code (USD, CAD)
  • Brand (Levi’s, Lucky, Diesel)
  • Availability (In stock, preorder, backorder, out of stock, discontinued)
  • Standard price ($125)
  • Sale price ($110, would display as “$110 (was $125)”)
  • Sale start and end date
  • Product expiration
  • Gender (male, female, or unisex)
  • Geographic availability
  • Color
  • List of URLs for additional hi-res images
  • Related items
  • Rating
  • Rating scale
  • Rating Count

Pinterest is actively developing the feature, so the list of supported fields is continuously expanding.

What are Benefits of Product Rich Pins for online businesses

Product Rich Pins are great for online merchants on so many levels!

  1. Increased exposure of your product on Pinterest
    Since the product information, including URLs, price, and availability are dynamically updated, the Product Pin and offer information stays relevant for months and years after it has been pinned.
    That means that the Product Pin continues driving site visits and sales long after it got pinned.
    It should also be noted that according to that same research from Piqora,

    On average, a Pinterest Pin generates more than 10 Repins – Pins are 100x more viral than tweets, which on average only get retweeted 1.4 percent.

  2. Ability to cross-sell
    One of the recent upgrades to Rich Pin functionality is the ability to display related products and include URLs to those referenced items.
  3. Increased traffic and conversion rate
    With relevant product description and up-to-date offer details, Product Pins help potential customers make more informed purchase decisions.
    Pinterest Rich Pin capability should generate even more impulse buying than ever.
  4. Leveraging Pinterest email notifications of price drops
    Merchants can widen the marketing outreach during the product sales when the price drops 10% or more.
    For Product Rich Pins, Pinterest now automatically sends email alerts on Price drops related to products the users have pinned.
  5. Seamless Integration
    For those merchants that have implemented oembed solution for Product Rich Pins as opposed to Semantic Markup, information is updated dynamically, in real-time.
    There is no additional maintenance for when product price or availability changes on the website.

Enabling Product Pins for online store

Enabling Product Rich Pins requires setting up a free business account on Pinterest.
Some merchants that have already implemented Product Rich Pins include Walmart, Target, Overstock, Wayfair.

However, despite all the benefits and opportunities to increase online sales and revenue, why don’t we see a wide adoption of Rich Pins?

The main reason why online businesses do not take the step to add Rich Pin functionality to their sites is that it requires technical knowledge, and to non-programmers documentation can be intimidating.

At Nakamoa, we developed a service that would allow a business to take advantage of Product Rich Pin functionality on their online stores.
Nakamoa is the first and, so far, the only developer to offer the service for online stores on Yahoo! Small Business Platform.
Store owners can sign up for 2-month free trial with no obligations and have the first-hand experience with Product Rich Pins.

Nakamoa team

How to check Google Analytics Installation on your Yahoo! store

This may be useful for online store owners that are wondering whether their installed Google Analytics (GA) works as it should on their site.

The biggest implication of incorrectly installed GA would be incomplete and unreliable web analytics data, inability to assess the effectiveness of marketing campaigns.

There are several methods to verify if Google Analytics on Yahoo store is implemented correctly or not.

The simplest way is to use Google Chrome Extension called GA Debugger. It’s a tool that can show what information is sent to Google via small request (called beacon).

You can find instructions how to install and use it here:

https://chrome.google.com/webstore/detail/google-analytics-debugger/jnkmfdileelhofjcijamephohjechhna?hl=en

After successful installation, you should have a button next to the address bar like that:

screenshot-google-ga-debugger-button

Now you are ready to check your online store.

1. Open Chrome

2. Clear all cookies, cache, and browsing data

This step is optional but strongly recommended for the sake of a “clean slate” test.

    1. Paste the following line into Chrome address bar:
      chrome://settings/clearBrowserData
    2. Hit Enter
    3. In the dialog window that pops up, select “the beginning of time”
    4. Make sure “Clear browsing history”, “Delete cookies and other site and plug-in data”, and “Empty the cache” are all checked
    5. Click Clear browsing data

3. Open Developer Tools

Press F12 or Ctrl+Shift+I or select Tools->Developer Tool

In Developer Tools window, click on Console tab. GA Debugger extension will post messages in the Console window.

4. Open your site

You can do it either directly by typing your store home page URL in the address bar, or you can open Google page (or other search engines) and find your site pages.

For this example, we are going to do the last option. This way it will provide more information like source and keywords (organic).

5. Check Console in Developer Window

As soon as your page opens, and your GA setup is correct, you should see in the console something like this:

homepage screenshot

You’ll see some interesting information displayed.

Firstly, you can see what functions were executed (setAccount, setDomain, trackPageView).

Secondly, you’ll find a tracking beacon request that was sent followed by detailed information like Campaign Source, Campaign Medium, SessionStart time and so on.
However, more importantly for us, there’s a Visitor ID. In our example, it is 1135739772. Take a note of that variable, as we’ll need to verify it at a later step.

6. Go to item page

Navigate to any item/product page. Once you land on that page, the Developer Console will be updated, and a new beacon request will be posted, thus verifying that your GA is working correctly on item pages.

7. Add item to the cart

This is an important step, and specifically for online stores that are hosted on Yahoo!Small Business platform, this is actually the moment of truth.
On Yahoo stores, when adding an item to the cart, the browser is redirected to a shopping cart that is hosted on a different domain (hosted by Yahoo).

If GA is installed properly, the visitor’s session should be maintained and stay the same after it has been redirected to a shopping cart page.

    1. Check if request was sent at all. If it was sent then at least you have GA script on shopping cart page. Some store owners would just put GA script in a header variable thinking that it should be enough but never address the 2nd point.
    2. Check Visitor ID. If it’s the same as the one that we noted in Step 5, then the session was maintained after redirection. Your GA setup is OK.
      However, if it’s not the same, then a new session was created. That means your GA is not installed properly, and you should get a better implementation of Google Analytics.

shopping cart - screenshot

8. Complete test order

For those that will actually complete the test order, they can observe a confirmation page beacon that will contain the actual transaction info.

If everything is set up correctly, you should see a special request type – tran. It will have transaction information like order number, the total with the items that were ordered. It will look similar to this:

order confirmation page - screenshot

As you see, it’s quite easy to ensure the correctness of your GA installation on your online store.

However, if you do not want to do it yourself, you can always submit your store for verification to our developers. Please email us at info@nakamoa.com with your store URL, and we will be happy to send you a report regarding Google Analytics installation and our recommendations.

Also you can check our product – http://www.nakamoa.com/google-analytics.html.

Nakamoa team