Pinterest, Fancy, Wanelo, Where to Start?

Pinterest, Fancy, Wanelo, Where to Start?

Ever since an online pin board called Pinterest took over the web just about overnight, the web has started to look a bit different. Blogs, eCommerce sites, and image sharing sites have started embracing grids full of big images, and infinite downward scrolling, with no footer. But a few years after Pinterest took the web by storm, businesses are starting to ask where the money is.

pinterestPinterest’s approach to monetization has looked basically the same as the other big social networks: gain a massive following and figure out how to make money later. It worked for Facebook and Twitter, right? But now there are a few new players in town.

Fancy, a Pinterest rival, is now bringing in 8 million unique visits every day. But unlike Pinterest, they’re already turning those visits into revenue. $100,000 in daily revenue, to be exact. And they’re doing it by embracing commercialism upfront. As with Pinterest, users can “Fancy” items, add them to collections, and share them, but they can also buy them. And by that, I mean they can click “add to cart” and buy them right there, without leaving the site.

fancyMeanwhile, Wanelo also brings functionality and appearance to the table that’s strikingly similar to Pinterest, but with the option to buy. But unlike Fancy, Wanelo doesn’t allow users to buy things directly off the site. They need to click through.

wanelo

Where Should Businesses Start?

If you’re manufacturing products of your own and want to sell them outside of Austin using sites like these, it’s not necessarily obvious where you should get started. So what are the differences between these networks?

  • Pinterest – This site has the least commercial audience, but it also has the largest one. This really isn’t the place to try to sell products directly. It can be a good way to pick up referral traffic and build brand exposure, but it’s not a marketplace. Most of these people are looking for inspiration for projects, or for interesting and entertaining images. They aren’t looking for something to buy. For brands, this site is really about thought leadership, brand impressions, and customer retention.
  • Fancy – This is a design-centric site (much like Fab in some ways) and it is the most commercial of the three networks. Users are here to buy things directly on the site. This can be bad for you if you’re trying to pick up a following on your own site. Most of the price-tags on Fancy are very high, so if you’re the type of brand that competes on price or tries to appeal to the “common man” this is a bad place to do it. Thankfully, Fancy users have zero qualms about you posting images of products with the sole intent of getting them to buy from you.
  • Wanelo – This site sits in a middle ground between the other two. It’s much more acceptable to post your own products, but users kind of expect you to share a few things that aren’t your own. Price tags are more reasonable on this site, so it’s a better fit for brands that compete on volume rather than luxury prices. Visitors are sent directly to your site, giving you more opportunity to own the purchase and retain the customers.

While it can be dangerous to make broad statements like this, I would argue that most brands should start with Wanelo. They’re more likely to see short term sales than on the other sites, and they don’t need to portray themselves as luxury brands. They will also learn the ins and outs of both extremes (the pure exposure of Pinterest and the conversion-centric world of Fancy).

Original Source: localsurgemedia.net/social-media-1/pinterest-fancy-wanelo-where-to-start

August 1, 2013

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