Why Pinterest Overtakes Facebook In Social Commerce
Research shows that online retailers prefer to use the Pinterest ‘Pin It’ button on their goods rather than the old faithful Facebook ‘Like’.
The third annual Social Commerce IQ (SCIQ) report made by 8thBridge analyzes the social commerce strategies of 872 retailers.
The number of retailers analyzed this year was almost double the number analyzed in last year’s report, to include nearly all of the brands from companies in the Internet Retailer 2013 Top 500 Guide and additional brands Internet Retailer determined were up and coming.
Wade Gerten, CEO of 8thBridge, Inc. stated:
Social Commerce has rapidly changed from E-commerce transactions on social networks to focus on empowering people to discover new product ideas from each other while they shop with the brands they love.
The launching of social discovery and curation solutions this year by some of the world’s largest retailers, Toys”R”Us, eBay, Walmart, Target, and Amazon, is a strong indication that on-site social discovery has gone mainstream.
7 social platforms were analyzed for the 872 retailers including: Facebook, YouTube, Twitter, Instagram, Pinterest, Google+, and Vine. 4 areas were taken into account when calculating the SCIQ scores: brand awareness on social networks, social upstream traffic, website social lift, and Social CRM.
The top 10 companies identified in the SCIQ are:
1. Free People
4. Lolly Wolly Doodle
7. Bourbon & Boots
Remarkable is that e-commerce star Zappos.com is not in the top 10, but on 18.
Some other remarkable facts:
-Pinterest’s Pin It button overtook Facebook’s Like button on the product page
-86% of retailers planning site redesigns for 2014 are planning to add social shopping features
-Engagement on Facebook brand pages was down 27%
-Eight of the companies in the Top 25 list are among the Top 50 in the Internet Retailer 2013 Top 500 Guide
Check the full study here and in the infographic below:
The majority of the top retailers in the report are active on many social networks, and they weave a number of social elements into their sites.
So it’s important to be on top of social if you want to get the best out of the medium.
As we tend to consume more and more visually, Pinterest could make some great steps in 2014 when it comes to new users and reach.
So get your Pinterest strategy ready before it’s too late!
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About the Author
Laurens Bianchi is an independent online (sport) marketing professional from the Netherlands and has been blogging on ViralBlog since 2008. Currently Laurens is also the Social Media Consultant for the Royal Dutch Football Association. Follow him on Twitter or contact him on LinkedIn.