Many retailers have discovered the power of Pinterest as one of their advertising vehicles. Pinterest is a platform used by 175M people around the world to design their lives. Certain types of retailers know that capturing the attention of Pinterest users is a key part to any modern omnichannel marketing strategy. The problem for retailers has been getting accurate visibility into how those Pinterest ads are doing relative to key performance indicators (KPIs), like how much their marketing activity is contributing to sales. For retailers using last-touch attribution or less sophisticated multi-touch attribution models, getting a precise gauge on the return on advertising spend (ROAS), as well as the impact clicks and impression are having on the purchase funnel, is key for proper allocation of their marketing investment.
The Neustar Solution
As a certified measurement Pinterest partner within the company’s Marketing Partners program, Neustar MarketShare provides brands the attribution insights needed to prove the value of advertising on Pinterest. Advertisers are able to better understand the effectiveness of Pinterest-specific levers (e.g. Pins and re-pins) and how Pinterest influences conversions downstream. Our multi-touch attribution solution shows the true incremental impact of marketing by including a broader collection of channels that influence audiences to purchase. Through our partnership with Pinterest, retailers get a more granular view of the impact their advertising played on KPIs, such as contribution to sales, time to conversion, effectiveness of driving sales, and effects on the sales funnel.
By analyzing data from three luxury retailers, Neustar was able to determine that Pinterest is a highly effective marketing tool that heavily influences shoppers. Buyers engaged with Pinterest had a shopping cart 40% larger, and paid impressions on Pinterest were 30% more effective than online display ads at driving sales. We also discovered that other types of attribution models under-credited the contribution of Pinterest paid activity by nearly 30%. Pinterest ads delivered millions of dollars in incremental sales for the three retailers, delivering a remarkable 28:1 ROAS.
Unlike many other upper-funnel channels, Pinterest activity resulted in a shorter time to convert — 40% in the case of paid activity. And within the Pinterest platform itself, clicks were the biggest indicators for conversion, showing 5x the sales lift over other activities including close-ups, re-pins and impressions.