Pinterest Buyable Pins Benefits & Success Stories
Pinterest Buyable Pins have been around for a while now on select ecommerce platforms but has only become available to Magento merchants within the last 10 months. With this new extension, merchants can quickly add this channel to their Magento store, making it quick and easy for Pinterest users to purchase items.
How Pinterest Buyable Pins Work
Buyable Pins make it incredibly easy for users to purchase a product. Instead of going through the trouble of clicking a Pin, being forwarded to a company’s website and purchasing there, users are able to make a purchase right on the Pinterest app. You can tell the difference in these Pins over the regular Pins because they show a blue “Buy It” button.
Currently, Buyable Pins are available on iOS and Android in the United States and have most recently moved to desktop. The extension works on Magento Community Edition 1.9 and Magento Enterprise Edition 1.14. To read more in-depth details about Buyable Pins, check out our previous article, “What are Pinterest Buyable Pins?”
How Pinterest Buyable Pins Extension Works (More Technical)
After you have been accepted into the Pinterest Buyable Pins program, you will be able to install and configure the extension. When you’ve finished configuring the extension and setting up your product feed, any Pins that you currently have on Pinterest that link to your product page will automatically get a Buy It button (including existing/older Pins). You will also be able to control which products are listed on Pinterest with a Buy It button. You can easily add or remove products at any time from your feed, and when products go out of stock, those Pins are automatically removed.
When you receive an order via Buyable Pins, the order will show up directly in your Magento Admin Panel like any regular order from your website would appear. There are also no fees or percentages taken from your Buyable Pins sales. The only real expense you’ll need to put towards implementing Buyable Pins are the cost of the extension.
Merchant Benefits & Success Stories… So Far
Many merchants using Buyable Pins have been seeing increased sales and acquiring new customers at a very low cost per acquisition. Pinterest is typically a good referral source for many retailers and Buyable Pins gives you the opportunity to immediately capture the sale. Fashion retailer Modern Citizen saw their number of orders from Pinterest go up by 73%.
Potential customers can discover your product Pins in their normal Pinterest feed and when searching or browsing on the platform. Being able to capture a sale in the moment of inspiration may also lead to higher AOV (average order value), increasing ROI (return on investment). Clothing retailer shophearts noticed Pinterest customers spent 30% more than their website AOV. Another plus is that the customers who are browsing and purchasing on Pinterest are not typically “deal shoppers.” Buyable Pins are often full-priced merchandise with no coupons or fees to erode profit margins, making this a great advantage.
Other benefits of Buyable Pins include you, as the merchant, owning the entire transaction. What this means is that you will receive the customer’s checkout information. You can then offer these customers your usual customer service experience. Unlike other ecommerce avenues such as Amazon and eBay, you are able to send follow-up emails and newsletters directly to the customers since you are able to retain this information.
Another way merchants are finding success on Buyable Pins is through “Pinterest SEO”. Similar to how SEO and SEM provide both free and paid value on Google, Pinterest offers merchants value from both organic and paid products. This is beneficial to both small and large businesses because small ones won’t automatically get “beat out” by larger companies who have more marketing budget to spend, and larger companies can build upon their existing Pinterest presence to bring in more revenue via Buyable Pins.