Make The Most Of Your Business With Pinterest Conversion Optimization

Make The Most Of Your Business With Pinterest Conversion Optimization
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Pinterest is an excellent platform that can be utilized in your marketing strategy to expose your business to new customers, drive organic traffic to your website or eCommerce store, generate leads, and create more sales. This is because Pinterest is a visual platform that acts as a search engine. It has been reported that 48% of Pinterest users (and rising) use the platform to conduct their shopping, demonstrating that a large majority of the population is known to put visuals first when researching and shopping for items online – thus increasing Pinterest conversion optimization rates for businesses.

Pinterest can benefit your business in a plethora of ways, for example:

  • Drive more organic traffic to your website 
  • Inspire Pinterest users to purchase from you 
  • Content has a longer shelf life than other content platforms 
  • Expand your reach and brand awareness 
  • Increase your business authority in the industry 
  • Increase conversion rates 
  • Increase engagement rates 
  • Easily integrates with your website and social media accounts (Facebook and Twitter)
  • Learn more about what your audience enjoys 
  • Quickly learn about industry trends 
  • Boost your SEO efforts as Pins rank in Google Images 

With approximately 2 billion searches each month on Pinterest, and users constantly searching for new ideas, products, and inspiration, you may start to question why you are not already on there. 

The best way to have an impact on Pinterest is to understand it fully, set big goals, and develop your strategy. The heart of your conversion marketing strategy should be consistently creating high-quality, captivating, and engaging visual content that will reach new customers and serve them in new ways. On Pinterest, you do not just showcase your products, you also produce content that meets customers at all stages of the marketing funnel. 

About 97% of searches made on Pinterest are unbranded, as users like the platform to browse for inspiration. Useful content such as inspiration, tips, tools, and resources that are relevant to your customers on their journey and your business, can quickly bring traction to your account. 

Businesses are able to create a business account, which enables you to create pins and boards, just like you would as a personal user. You also have access to analytics, which enables you to see how your pins are performing, so you can keep reviewing and adjusting your strategy where necessary. 

As a business, you also have access to a range of other features, such as promoted pins, which enable you to target specific devices, demographics, and locations of customers who have shown an interest in your offers. Promoted pins work on a cost-per-click (CPC) scheme, which means you are able to choose the duration of the promoted pin, as well as the daily budget. 

Pinterest, like every platform, is constantly updating its rules and practices to help businesses grow and consumers find what they are looking for. One of the best features it has released for businesses is the Pinterest Conversion Optimization campaigns. 

What Is Conversion Rate Marketing?

Conversion rates are an important statistic that every business should pay attention to. The definition of conversion will differ between businesses, so it’s important to know what conversion means for you. For example, it may be a purchase from your eCommerce store, entering an email address in return for a free download, clicking on an advertisement, installing an application, or just a particular action on your website. 

The conversion rate is recorded as the percentage of individuals who have completed your defined action. If you had reached an audience of 10,000 people, and out of that audience, 600 users clicked on your action, the conversion rate would be 6%. This is why conversion rate marketing is so crucial. It defines what you are marketing, and how, based on your desired outcome.

Where Are Conversion Rates Used?

Conversion tools in digital marketing are used in a range of ways and are extremely important for growing your business. For example, you can track conversion rates on Pinterest’s Promoted Pins, on Google Analytics against organic traffic, Google Ad campaigns, Facebook Ad campaigns, YouTube Ad campaigns, and more. Each tool will have its own analytics for your business to use, track, and help with conversion marketing. 

Why Are Conversion Rates Important? 

Conversion rates are important because they provide an accurate and effective way of comparing the performance of different content, campaigns, and platforms that you use and measuring their success. All information that relates to the conversions can then be analyzed further, allowing you to make strategic decisions for the next conversion rate marketing campaigns. 

With each analysis, you are provided with an opportunity to improve your next campaign for even more growth. You will also be able to compare them with the campaigns that were not so successful, so you can spot any issues with the applications or the campaigns, and focus your time, money, and resources on the ones that do. 

Ideally, you want to be increasing the percentage of conversions. In some cases, you may take your business through the rigorous process of analyzing your current results for areas of improvement, and then setting hypotheses up in order to validate those improvements through multivariate testing and A/B testing, for better, more efficient, long-term results. 

The more you increase your conversion rate through optimization, the quicker you are able to get more value from the visitors and users you target, and therefore, lower your acquisition costs. Conversion rate optimization increases the number of visitors, as well as the revenue per visitor, which will ultimately skyrocket your business. 

Conversion rate optimization is not something you do once and move on. It is a process that is ongoing and should be regularly reviewed and analyzed, so the strategies can be updated and focused on. This is because there is always room for improvement, customers’ likes and interests evolve, new trends change all the time, your competitors may grow stronger, and you may see more competitors on the market. Optimizing for conversion rate enables your business to stay strong and at the forefront of the industry. 

Depending on the platform you are using, and the business you have, you will need to identify your conversion metrics so they can be measured accordingly. For example, if you are an eCommerce store then you will likely track when a user puts an item in their basket or when they make a purchase from your store. Other industries may focus their conversion rates on:

  • Newsletter sign ups
  • Downloads
  • Booking accommodation or travel 
  • Closing a deal 
  • Viewing a page 
  • Clicking a button 
  • Clicking an advertisement 

What you track as a conversion is entirely unique to your business. However, it must be relevant to your goals if you want them to be successful. 

It is ideal to start optimizing some of your highest-traffic sources with a low conversion rate, so you can quickly gather data and make a bigger impact on your business. 

Pinterest Conversion Optimization 

Pinterest Conversion Optimization is a type of campaign that is specifically built to optimize your Promoted Pins for more than just clicks. With these campaigns, you are able to optimize for specific consumer actions, which means you can more easily expand your reach to users who have a higher chance of being interested in taking your preferred action. This type of campaign allows your business to structure a strategy that aligns with your goals, with an increased success rate.

As with any new campaign, you will first have to test the campaigns, with a variety of different optimizations to see what works best. In the case of Pinterest, this means using a range of different targeted keywords and interests. There is no more effort required to set up these campaigns, and each one will allow you to set them up easily and reach your goals quicker. Conversion campaigns can be used with a range of actions, such as sign-up, checkout, add to basket, and lead. 

Brands have had great success with the Pinterest Conversion Optimization tool. Pinterest reported that the business Gravity Blankets saw a 58% lower cost per acquisition and 2x sales increase. 

Pinterest Conversion Optimization is a highly effective tool that every business on Pinterest should be utilizing to its full extent.

Pinterest Conversion Optimization

Wish You Had A Crystal Ball To Show You How To Optimize Your Ranking On Pinterest?

Every Pinterest Profit Plan is INDIVIDUALIZED & includes ACTION ITEMS for you to know your exact next steps to Pinterest success!

In this roadmap, we will take a close look at your overall Pinterest strategy to give you a clear picture of what steps to take to not only improve your strategy but also skyrocket your conversion rate optimization results too!

How To Use Pinterest Conversion Optimization 

Before setting up any campaigns, it is important that your business has a Pinterest business account that has been set up and verified accordingly. You will also need to ensure that you know what kind of conversions you wish to drive, that will positively contribute to your success. To start, you will need to provide your budget and the target average cost-per-action. Then you will need to place the Pinterest tag on your website, and track at least one of the supported actions mentioned above. 

You may also be asked for other information, such as the conversion volume and windows. This information is important to gather data, as there needs to be a sufficient number of conversions in a longer window of time, in order to see what is working well and what is not. Pinterest recommends at least 5-200 conversion volume per week is a good number to aim for, so their delivery system can learn better and provide more value. 

Once the event has been set up, you’ll be able to create the campaign, and Pinterest will be able to optimize it accordingly. 

What To Expect With Pinterest Conversion Optimization 

When you first set up your conversion campaigns on Pinterest, it is more than likely that you will see the results vary. This is because the campaigns will always start in learning mode, as Pinterest shows the ads to different users to learn about who has the higher chance of converting. This mode is essential to obtaining results, as Pinterest needs to learn and gather a certain amount of data in order to create a successful campaign. Once all the data has been gathered, you should start to notice the results of your campaign balance out. It is important to allow this process to happen, and not to panic and amend the campaign while it is still in learning mode.

Pinterest has recommended that you do not make any more than 2 rounds of changes per week to any campaign. Campaigns perform better when they have had time to learn and adjust themselves. It is recommended that you assess the performance of your campaigns weekly or monthly, as opposed to daily. 

This is important, as when you consider the behavior of Pinterest users, in comparison to other social media platforms, you will note that it is used less often, however, the patterns are deeper. Many users tend to view content, and pin it, and not always click or convert straight away. This is why content views are important statistics to consider, as well as giving your campaigns time to generate more accurate statistics for you to review. On this note, you must also consider your own company’s purchasing cycle, as if your products or services are priced high, and have a long consideration period, then the window must be extended, in comparison to the small, lower-priced products which are purchased at a much quicker rate, with a lower consideration period. 

It is important to ensure that your conversion campaign uses creative content, in order to encourage more users to learn who you are and take action on your website. All content should be created and aimed at increasing your conversions.  

Pinterest Conversion Optimization is a vital tool for any business to utilize if you want to reach new people, grow awareness of your brand, and more importantly, increase your conversion rates. This tool is one of the best ways to make the most of your business, and your Pinterest efforts, by really nailing down and refining the actions the most valuable users will take. Remember that Pinterest is not just a social network, it is a powerful tool that can be utilized to grow your marketing efforts. 

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About The Author

Laura Rike

Laura Rike is a Pinterest Powerhouse. She helps high-performing business owners, content creators & influencers (like YOU) grow PROFITABILITY the right way with SUSTAINABLE systems, so you can be found first without tantrums over tech and trading sleep for success. She has helped clients and students bring in over 50k+ in revenue month after month. Laura’s clients have become industry leaders with 6-figure and up businesses, most now found on page one of Google and growing sustainably with targeted email leads daily. With over 3.2 Million monthly viewers on Pinterest alone, Laura has been featured as a guest on podcasts like Ultimate Marketer, Twin Cities Collective, and Small Business Revival

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