A new study finds that Pinterest is proving to be quite valuable for online retailers. While it trails Facebook in a variety of metrics, it’s gaining ground in those, and is leading in one very important metric. Plus, Facebook’s dominance only stands to increase Pinterest’s value within the other metrics.
RichRelevance’s latest infographic on social shopping made eConsultancy’s recent top infographics list.
Shoppers who arrive at online retail sites by way of Pinterest spend $168.83 on average, compared to $94.70 for Facebook and $70.84 for Twitter, according to a study released in September 2012 by RichRelevance. The report, based on data from more than 689 million shopping sessions from January 1 to August 31, 2012, finds that Pinterest trailed Facebook in average revenue per referral session ($1.60 vs. $2.50) during that time period, but has rivaled or exceeded Facebook in the past 3 months on this measure.Shoppers referred from both social networks are ahead of shoppers arriving from Twitter, whose average revenue-per-session was $0.80 during the time period.
When asked, most marketers are happy to explain why one social network is better for business than another. According to new data, however, different networks lend themselves to different strategic objectives.
“Not all channels in the social space are created equal,” according to Diane Kegley, CMO of RichRelevance.
While Facebook dominates in socially-driven shopping, Pinterest is driving the highest average spending per online shopping session.
RichRelevance, a specialist in dynamic e-commerce personalization for the world’s largest retailers, analyzed nearly 700 million shopping sessions to benchmark the performance of Facebook, Twitter and Pinterest as drivers of traffic to retail sites.
“Every social network promises a new way of connecting consumers with retailers and brands,” stated Diane Kegley, CMO of RichRelevance, of the firm’s latest Shopping Insights report. “However, the big take-away from our research is that not all channels in the social space are created equal.”
New research shows that Facebook dominates in socially driven shopping; Pinterest drives highest average order value
SF Business Times profiles how RichRelevance helps retailers monetize their sites through shopping media
Amazon.com and Walmart.com are increasingly acting like traditional media publishers by selling display advertising on their websites, and estimates put their resulting revenue in the hundreds of millions of dollars a year.
Now other online retailers are following suit in hopes of monetizing the eyeballs their content attracts — regardless of whether they make a product sale.
A couple of San Francisco companies are riding the trend and are at the forefront of what experts say could quickly become a multi-billion dollar market: Connecting advertisers with retailers, designing and selling ads, and then delivering them to consumers….
A decade after the rise of e-commerce, today’s mobile technologies and social media applications have contributed to a convergence of consumer demand and technology.
Consumers now expect constant connectivity and interactivity from retail brands and retailers must embrace omni-channel retailing, an integrated sales experience that melds the advantages of physical stores with the information-rich experience of online shopping.
Omni-channel means seeing things from a consumer’s point of view, not from the comfort of your own business boundaries.
It means interacting with customers via their three channels of exploration: social, mobile and local, at every stage of the purchasing process.