Speaker: Eric Edge – Pinterest
Description: Pinterest started off as a hobby for its creators but quickly turned into a global platform. As the company grew, the biggest challenge became how to help its users discover new ideas. It’s is an issue that a lot of companies face. Discovery and interest is the key to moving customers along their shopping journey.
Eric Edge, Head of Global Marketing and Industry Relations at Pinterest, covered the four pillars of where he thinks marketing will be in the future and help businesses grow in the retail space.
People want to be inspired to find new content, make a decision and act. It’s something that Pinterest focuses very heavily on by delivering new ideas based on the user. So Pinterest maps behaviour to certain actions because a person shopping in-store is not that different than how they shop online.
Amazon has done this the best. They’ve found ways to surface products that are personalized to you and your interests. Pinterest are looking to take on the same opportunity to fuel discovery and move it to action.
Inspiration to action
The problem with traditional media like television is that it’s hard to get potential customers from initial interest to final purchase. Pinterest has looked to collapse the funnel by allowing people to buy things in the moment of inspiration. It allows brands to capitalize on two new features to do this:
- Visual Discovery – Multiple products on an image can be tagged and as a user clicks on them, shoppable links appear at the bottom that can drive site traffic
- Lens – Using your phone’s camera, you can take a picture of anything and Pinterest will find similar products or ideas. One example Eric used was finding an unfamiliar fruit in a grocery store. Using Lens, you can take a picture of it and find recipe ideas using it.
Good creative content
This might be obvious advice but it’s easy to forget. This goes back to point about personalized experience. If you can deliver the right creative to the right person in the right context, you’re more likely to develop interest and drive action. You don’t have to empower people to do something they’ve never done before. It can be as simple as creating content that gets people to think a little bit more differently about everyday things.
Measurement is difficult; it’s tricky and can be complicated to track. Clicks don’t always lead to sales, shopping decisions aren’t always made in the moment and 90% of sales still happen in-store.
- Move beyond the last click – think about the first touch point and how it influences the journey that a customer is on.
- Demonstrate incrementality – in today’s digital world you can separate the performance of individual pieces of advertising. If the piece doesn’t demonstrate growth, it might not work.
- Bridge online actions with offline sales – in a case study Eric mentioned, Pinterest found that one of the companies advertising on the platform were able to drive five times more sales than the industry average and a majority came from earned media.
To summarize his talk, Eric posed this question to the audience:
How will your ideas be discovered?