Pinterest can be a gold mine for consumer companies. More than 25 million users visit the platform regularly to window shop for everything from clothing to recipes to inspiration for their home improvement projects.
Pinterest is working to monetize the platform in ways that don’t turn users off (hi, Facebook). Recently they’ve added business accounts and analytic tools. The latest upgrade to Pinterest business accounts is the creation of rich pins. Rich pins offer additional information at a glance, like pricing or available colors. Right now, it’s only activated for pins in the product, recipe or film categories. Rich pins are connected to information on your website, so if you make a pricing change or run out of stock on an item, it’s immediately reflected in the pin.
Rich pins also pop up a handy sidebar window that shows related products. For instance, if you want to see every dish with a certain pattern on it, you don’t have to go hunting other pins to find it. They’ll all pop right up for easy browsing.
In this rich pin from Ikea, you can see how much their couch sells for. If you click on the image, you’ll be taken to the product page for the couch on the Ikea website, complete with the same options in the pin.
Recipe rich pins include information like dietary details, cuisine, preparation time and ingredients. It’s useful if you’re looking for recipes that are gluten-free or vegetarian.
With rich pins, users have access to the information they want while staying inside Pinterest. As a brand, the goal is create pinnable content that users want to share. By providing in-depth details about products, the users who do click through to a product page are motivated.
The bottom line? There is money in those pins. A number of recent studies, including this one from Sephora indicate that Pinterest users spend more money than Facebook users for items they find on the respective platform. Are you taking advantage of the revenue opportunities?
Footnote: How to Activate Rich Pins
Step One: Activating rich pins for your site does require a bit of coding knowledge.You can find the code details here: Pinterest developer’s page. Unfortunately there is no simple plug in for WordPress sites yet.