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New Pinterest Price Alerts Unlock E-commerce Opportunities

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In May, Pinterest caught the attention of brands when it married visual inspiration with actionable information in the form of rich pins, a new feature that provided product information within content posted to the platform.

Today, rich pins became even more enticing to marketers, as the company has announced that users will now be able to receive automatic notifications when the price associated with one of their product pins drops. The insight: if someone likes a product enough to pin it, then they’ll likely be interested in purchasing it at some point – perhaps when the cost reaches a certain range.

How it works:
Product rich pins allow brands to associate images with detailed information, including pricing, availability and stockist. Per today’s announcement, Pinterest has evolved this feature to include automatic notifications – sent via email – that flag when the cost of an item has dropped, and by how much.

What does it mean?
For pinners, the incentive to pin or re-pin desired products will increase. Boards often serve as digital scrapbooks for clothing, furniture or assorted products people aspire to own – and now, pinners will be alerted when any of these desired items go on sale. Users will be able to click through from the email to see the pin, stockist and availability, and click through to the seller’s website to make a purchase.

For retailers, enabling product rich pins is a significant opportunity to increase e-commerce sales from Pinterest. The ability to reach consumers who have publicly expressed a love of a product(s), and directly notify them when the pricing on that product(s) moves in their favor, generates a new incentive to purchase. By enabling this feature, retailers can expect to see a bump in Pinterest referral traffic and site conversions.

Learn how to implement product rich pins here.

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As Pinterest continues to establish itself as the destination for unexpected discovery and inspiration, the opportunities for brands continue to grow. Seeding your content – allowing for it to be shared, liked and curated in new and exciting ways – puts your brand in front of new audiences and allows it to be visualized in different and unique ways.

With this feature expansion, Pinterest is making products more accessible and exciting to people who have already publicly shared their desire to purchase. It’s a move that begins to make Pinterest a viable platform from which e-commerce objectives can be achieved.

Cover photo via Mashable