This week, Pinterest unveiled the Pinterest Performance+ suite, which includes new AI and automation tools for lower-funnel ad performance.
The new offering aims to optimize targeting to Pinterest users and manage campaign budgeting. Using Performance+ also decreases the creation time by requiring half the inputs for standard campaigns.
GenAI creative tools. Some of the new tools have generative AI creative capabilities, allowing brands to create and improve visual assets. For instance, a product image with a blank or single-color background can be enhanced with relevant “lifestyle” imagery that places the product shot in context.
Dig deeper: How brands are using AI tools in Meta’s Advantage+ campaigns
Bidding for ROAS. Pinterest Performance+ is adding a new bidding option to the platform’s traditional abilities to optimize for clicks and conversions. The new option allows advertisers to target the most valuable shoppers using Pinterest’s predictive analytics, based on thousands of signals in Pinterest.
Promotions. Pinterest also announced new enhancements to Pinterest Search and Home Feeds. These features provide branded shopping recommendations powered by machine learning based on what users search and pin. The deals ads module promotes discounts and sales events to users in their Home Feeds.
Why we care. Pinterest has 522 million monthly active users and 1.5 billion pins saved weekly on the platform. These new features provide marketers with attractive tools to optimize and scale campaigns. To increase their investment in a particular ad channel, marketers need the data to prove the channel’s case. Promoting discounts will also be a helpful tool for holiday campaigns, as price is a top factor for this year’s holiday shoppers.
Dig deeper: 2024 online holiday spending set for record year with $240 billion in sales
About the author
Chris Wood draws on over 15 years of reporting experience as a B2B editor and journalist. At DMN, he served as associate editor, offering original analysis on the evolving marketing tech landscape. He has interviewed leaders in tech and policy, from Canva CEO Melanie Perkins, to former Cisco CEO John Chambers, and Vivek Kundra, appointed by Barack Obama as the country’s first federal CIO. He is especially interested in how new technologies, including voice and blockchain, are disrupting the marketing world as we know it. In 2019, he moderated a panel on “innovation theater” at Fintech Inn, in Vilnius. In addition to his marketing-focused reporting in industry trades like Robotics Trends, Modern Brewery Age and AdNation News, Wood has also written for KIRKUS, and contributes fiction, criticism and poetry to several leading book blogs. He studied English at Fairfield University, and was born in Springfield, Massachusetts. He lives in New York.
