Oracle Data Cloud will now help Pinterest measure the impact of in-store sales according to a recent announcement by Pinterest. Oracle owns Datalogix and other martech brands which make it a perfect company to help Pinterest achieve its objective. During the announcement, Pinterest also took the opportunity to publicize the results of a study that "measured the in-store sales for 26 Promoted Pin campaigns across beauty brands, food and drinks and household goods. The findings of the report showed that Promoted Pins drives five times of the in-store sales per impression compared to other online advertising.
The report confirmed the conclusions that "Pinners" were highly desirable prospects since 40 percent of them make over $100,000 each year. The study found that CPG brands are three times likely to reach their existing customers on Pinterest that those who spend 16 percent more on a national average. It was also found that more engaged Pinners have strong buying behaviors, and people who engage the promoted Pins have a 12 percent chance of buying the brand.
The Oracle’s Datalogix was used to measure the incremental in-store traffic using the customers purchase and POS data from historical data kept by the grocery and retailer relationships. Currently, many companies are trying to measure the store visits driven by the online and mobile ads. Soon, the data will be a critical KPI for companies to justify their budgets and make decisions on whether to substitute with other online "proxy" metrics. Google is also expanding its Store Visits data to the marketers using its ad platform. The Pinterest data now reflects both the store visitation lift and the actual purchase behavior.