Neustar Report Shows Retailers See Strong Signs of Purchase Intent from Pinners
You might find it hard to believe since we’re only in August, but retailers who are counting on a strong holiday shopping season are already hard at work deciding how to allocate their marketing budget to drive sales. Starting with Black Friday and running through Christmas, the holiday season accounts for about 30% of annual retail sales. And when it comes to reaching consumers via digital channels, the choices are seemingly endless.
In a case study just released by Neustar, retailers might want to take a hard look at advertising on Pinterest. Using our advanced multi-touch attribution models, we analyzed three different luxury retailers from July 2015 and November 2016.
Consider this, your media dollars will get you further on Pinterest. Our findings showed that Pinners who actively engaged with an advertiser’s content on Pinterest, had a 40% larger shopping cart at checkout. What was equally impressive was findings that showed paid impressions were 30% more effective at driving in-store or e-commerce sales than the next best performing channel, which were online display ads.
“Brands need an accurate read on their advertising impact, beyond traditional engagements like last-touch impressions and clicks,” said Julie Fleischer, VP of Marketing Solutions, Neustar. “The only way to effectively shepherd your media investment is to measure actual performance and attribution, so marketers can gauge channel impact, customer journey interactions and brand and sales drivers.”
Every marketer is looking to get a great return on his or her ad investment, and our measurement solutions confirmed that Pinterest ads delivered millions of dollars of incremental sales to the retailers. Pinterest ads delivered a remarkable 28:1 ROAS.
Additionally, specific to the Pinterest platform itself, ‘clicks’ from Pinners were the best indicator of a sale. This means that Pinterest clicks provided the retailers a 5x lift in sales, compared to other activities like impressions, close-ups or re-pins.
“Our multi-touch attribution solution helps marketers identify ROAS across discrete granular activities and actions,” Fleischer said. “Smart Pinterest marketers should seek advanced measurement models to understand channel impact and most effectively allocate marketing investments.”
The Neustar multi-touch attribution (MTA) solution is driven by our OneID system® that connects people, places, and things. Trusted identity is at the heart of everything we do, connecting the online and offline worlds to give retailers a more complete picture of their marketing, including contribution to sales from platforms like Pinterest. Neustar was named a certified “measurement partner” within Pinterest’s Marketing Partners program in June.
So here’s the bottom line – our research shows that if you’re a retailer that’s launching a new collection, you’re looking to raise consumer interest, or you want to maximize your ROAS for the holiday shopping season, advertising on Pinterest could be one of your smartest marketing investments.
To read the full case study detailing our findings, click here.