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Unlock Gen Z's Buying Power with Pinterest
AI Supercharges 2024 Upsells
Hey there Scooper 🍨
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CUSTOMER INSIGHTS
🌟 How Brands Can Thrive in a Gen Z World
Insights from Pinterest Business
To connect with Gen Z, brands need to understand where this generation finds and brings their favorite ideas to life: Pinterest.
The Scoop:
1. Appear When They Search
Gen Z uses Pinterest as a search engine, with searches up 30% year-on-year.
Optimize Pins with relevant keywords in titles, descriptions, and product feed data. Target ads to Gen Z users searching for related verticals.
2. Build Traction for Transactions
Gen Z saves 2.5x more Pins and creates 66% more boards than other generations.
Encourage saves and board creation. Retarget users who interacted with your content.
3. Make It Shoppable
63% of weekly Gen Z Pinners are always shopping.
Use carousel and collection ad formats. Utilize direct links in ads to drive traffic to your site.
4. Stay Ahead of the Trends
Gen Z is constantly exploring new aesthetics and trends on Pinterest.
Use Pinterest Predicts and Pinterest Trends to identify emerging trends. Employ quiz ads and multiple boards.
5. Connect Them to Culture
Gen Z engages with pop culture, festivals, gaming, and fandoms on Pinterest.
Run shopping guides for events and festivals. Offer ideas for digital avatars and backgrounds.
6. Don’t Forget the People Shopping for Them
Families and friends also shop for Gen Z.
Promote board sharing among relatives and friends. Target parents with campaigns to educate them on Gen Z trends.
By understanding and leveraging Gen Z’s engagement with Pinterest, brands can build deeper connections, drive engagement, and boost conversions. Optimizing content, staying ahead of trends, and considering direct and indirect buyers are key to thriving in a Gen Z world.
TOGETHER WITH MODASH
With over 250 million influencers and creators worldwide, how do you begin to find the right partners for your brand?
Ryan Prior from Modash interviewed 4 senior influencer marketers to learn how they approach influencer selection.
All of them agreed: think beyond your immediate product category.
❌ This is the wrong line of thinking:
I have a beauty product. So, I should work with beauty influencers.
✅ This is the right line of thinking:
My ideal buyers are women aged 35-45 in New York. Who reaches those people online?
With this audience-based approach, you might still land on the "obvious" choices (like beauty influencers), but it will also give you a much bigger pool of potential partners to test.
UPSELL AND CROSS SELL
📈 The Effectiveness of Upsells and Cross-Sells in 2024
Insights from Stacked Marketer
Classic upsell and cross-sell tactics continue to boost average order values. Here’s how they perform in 2024, with AI enhancing their impact.
Industry Effectiveness: 44% of SaaS companies see a 10% revenue boost.
Customer Lifetime Value: Upselling increases it by 20%.
Sales Driver: 72% of sales professionals say it’s their main revenue driver.
E-commerce Impact: 10-30% of average order value comes from upsells and cross-sells.
The Scoop:
Are Upsells Still Effective?
20% of consumers purchase from an upsell.
50% of merchants report 15% success in upsell efforts.
25% of sellers estimate 11-15% upsell success rates.
Additional Revenue from Upselling:
Upselling can add up to 30% in revenue, with most seeing a 6-20% increase.
Effective Strategies and Channels:
Email Campaigns: Highly effective for personalized upselling.
Phone Calls: Personal touch for high-ticket items.
Social Media and Websites: Effective for lower-ticket items.
Building Bundles: Combine related products to boost value.
Incentives: Offer extended payments or free shipping.
Loyalty Programs: Encourage repeat purchases with perks.
AI Integration: Personalize suggestions, power chatbots, tailor descriptions.
How AI Enhances Upselling:
Personalization: Suggests products based on behavior.
Customer Support: AI chatbots upsell based on inquiries.
Dynamic Content: Creates personalized descriptions and promos.
Consumer Perception:
18% prioritize upselling and cross-selling.
AI-generated descriptions (49%) and content (43%) enhance effectiveness.
Upsells and cross-sells, now enhanced by AI, remain strong revenue drivers. By leveraging AI and optimizing channels, brands can maximize their potential, driving significant revenue growth.
SURGE IN AI REGULATION
📜 Surge in AI Regulations
Insights from Stanford University
In the U.S., regulatory agencies are increasingly enacting rules to safeguard citizens and oversee AI tool and data usage. For instance, the Copyright Office and the Library of Congress issued guidance on registering works containing AI-generated material, while the SEC developed a strategy for managing cybersecurity risks and disclosing incidents. The Executive Office of the President and the Commerce Department led in passing the most regulations.
QUICK SCOOP
🗒️ How do you get paid for your feedback or opinions? Wynter is looking for marketers to become research participants. You can participate in surveys and 1-1 meetings, and get paid for your feedback and comments. Up to $600/hr in just 2-10 minutes. Sign up as a participant today!
🔎 There are 8.5 billion searches per day on Google. Are you showing up? If not then you’re losing sales. Ignite Digital are the SEO experts with over 13 years of experience. You can request your FREE competitive analysis from Ignite Digital and they will respond on the same day!
🔍Google is testing a large blue "Visit" button under some mobile search results that will increase click-through rates.
🤖Google Search Ads mimic an AI assistant app, blending AI-generated search results with advertisements.
That’s all for today! While we curate another Viral Scoop for tomorrow, let us know how you felt about today! And share this with someone who’d love it.🥰