Target (NYSE:TGT) is exploring new ways to use social media, specifically Pinterest, to promote products both online and off-line. This week, the retailer hosted Ben Silbermann, co-founder and CEO of Pinterest, at its Minneapolis headquarters.
Silbermann chatted with Casey Carl, Target's chief strategy and innovation officer, about how Pinterest works and was available to answer questions from Target team members. Silbermann was the first in a series of planned innovation talks called Outer Spaces.
Target boasts nearly 335,000 followers on its Pinterest page. There are 63 boards filled with products across categories including fashion, food, home décor and baby. Pinterest has roughly 100 million active users each month and is credited as one of the most powerful platforms to convert browsers into buyers.
The retailer is making use of Pinterest's Promoted Pins, but is also testing ways to leverage Pinterest by connecting an application programming interface (API) integration with iBeacons and the retailer's Awesome Shop to highlight the most pinned products. The Awesome Shop is an online display that features a rotating display of merchandise available for quick viewing. Users can select items for more information and to be taken to the product page for purchasing.
But Target is going beyond the online platform and is also exploring ways to display popular pinned items in stores.
The Outer Spaces series is intended to "bring inspiring minds from other companies and organizations to speak to our team," according to the company. The recent event was also live-streamed to Pinterest headquarters in San Francisco.
Target is serious about innovation, hosting guest speakers, rolling out tests, and trying new technology. The retailer recently launched fall ad campaigns using Shazam's mobile visual technology and began accepting applications this week for its new Techstars program.
-See this Target blog post
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