Pinterest has introduced Performance+ suite, a set of AI-powered tools designed to boost campaign automation and help advertisers.
Revealed at ‘Pinterest Presents’, the company’s annual global advertiser summit, this suite automates important elements like optimizing targeting, deciding how much to bid and managing budgets, which will streamline campaign creation by around 50%.
“Every advertiser globally now has the option to use Pinterest Performance+ campaigns for Consideration, Conversions or Catalog Sales objectives,” Pinterest confirmed.
Users can remain in control by bundling these features automatically, or mixing and matching Pinterest Performance+ products based on the specific needs of their brand.
The alpha and beta testing of Performance+ suite displayed positive results: most advertisers saw at least a 10%+ improvement in cost per acquisition (CPA) for Conversion and Catalog sales campaigns or a 10%+ improvement in cost per click (CPC) for Consideration campaigns.
For the launch of a new leather goods campaign in the US, luxury brand Prada saw improvements on their Pinterest Performance+ campaigns versus business-as-usual campaigns.
Likewise, Walgreens used Pinterest Performance+ creative to boost its online shopping experience for around 50 products across numerous categories.
“Ad innovation on Pinterest has been at an all-time high,” said Bill Watkins, Pinterest Chief Revenue Officer. “We’re still the place for brands to drive discovery, but we’re now delivering on lower funnel and creative too. Brands are increasing Pinterest in their media mix and they no longer need to choose between awareness or lower funnel performance. Now they can have both.”
As the festive season approaches, advertisers will also be able to benefit from personalized promotions with Pinterest’s various deals ads modules as well as their enhancement of Pinterest Search and Home Feeds with personal, branded shopping recommendations powered by AI.
“There are plenty of places online to find products and no shortage of ways to buy them, but no other platform helps you decide what you want like Pinterest,” said Martha Welsh, Pinterest Chief Strategy Officer. “In my case, I’ve already started holiday shopping. And with Pinterest now surfacing promotions and discounts, it’s never been more effortless to find the perfect gift on Pinterest and to make the right purchase at the right time.”
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