Pinterest announced yesterday that they have a relationship with Oracle Data Cloud to measure the company’s impact on in-store sales. Oracle owns Datalogix, along with other martech brands.
Also, Pinterest even publicized the results of a study that “measured in-store sales for 26 Promoted Pin campaigns across major food and drink, household goods and beauty brands.” In this study, it was reportedly found that “Promoted Pins drive 5x more incremental in-store sales per impression” vs other online advertising.
It was found in the study that “Pinners” were higly desirable prospects:
Nearly 40 percent of Pinners make over $100k each year. What’s more, the study found that compared to the national average, CPG brands are 3x more likely to reach existing customers on Pinterest—and those customers spent 16 percent more. . .
The study also found that more engaged Pinners are even more likely to have strong buying behavior. People who engage with Promoted Pins are 12 percent more likely to be buyers of that brand.
Incremental in-store traffic was measured by DataLogix by using customer purchase and point of sale data that can access based on historical grocier and retail relationships. The company, just like others measuring in-store visitation lift, creates and exposed groups to see if exposure to digital ads results in incremental store purchases.
Although e-commerce drives several hundred billion dollars in annual purchases, offline sales that are impacted by digital media help to drive multiple trillions of dollars in spending. Also, keep in mind that the Pinterest data reflect not just store visitation lift, but actual purchase behavior.