Pinterest is stepping up its game with brand new AI and automation tools designed to make advertising smarter and easier for businesses of all sizes. At the Pinterest Presents 2024 event, the company announced the launch of its Pinterest Performance+ suite, a collection of features that will help businesses maximize their advertising efforts, from boosting awareness to driving sales with the power of AI.
“We’ve always been the go-to platform for discovery,” says Bill Watkins, Pinterest’s Chief Revenue Officer, “but now we’re delivering on lower-funnel performance too. Brands can have both awareness and results, without needing to choose.”
What is the Pinterest Performance+ Suite?
This new suite includes AI and automation features aimed at making ad campaigns more efficient. Whether you’re looking to drive consideration, conversions, or catalog sales, Pinterest Performance+ is designed to help. These tools are supposed to help advertisers with targeting, budget management, and bidding.
Here at PinHouss we take these updates seriously, but always with a grain of salt. New and shiny doesn’t always translate to effective, but after reviewing the new features we do think they look promising.
AI-Powered Product Images
One of the cooler and more exciting feature in Performance+ allows advertisers to transform plain product images into eye-catching lifestyle imagery using generative AI. This makes it easier for businesses to create engaging ads at scale, without needing a huge creative team.
Walgreens tested this feature and saw a 55% higher clickthrough rate and 13% lower cost per click when using AI-generated backgrounds for its products. Instead of dull, flat images, their products were shown in vibrant, Pinterest-native settings, leading to better engagement.
Offer Discounts Through Pinterest
In addition to AI tools, Pinterest has rolled out a new “Promotions” feature that helps businesses offer discounts and deals to their audience. These promotions are shown directly to Pinterest users who are most likely to engage with your sale, based on their searches and activity.
Pinners seek out discounts and promotions, so this feature will allow businesses to offer them through their Pinterest advertising.
5 Brand New Features
- Pinterest Performance+ Suite:
- A new suite of AI and automation-powered tools to optimize ad campaigns for objectives such as Consideration, Conversions, and Catalog Sales.
- Helps advertisers manage targeting, budgets, and bidding with 50% less input required.
- Option to bundle features automatically or mix and match based on brand needs.
- Generative AI for Product Images:
- Transforms plain product images (e.g., white or flat backgrounds) into lifestyle imagery.
- Enriches Product Pins, making them more engaging and visually appealing for Pinterest users.
- Promotions Tool:
- Allows businesses to surface discounts and deals directly in Pinterest feeds based on user behavior (what they’ve searched and pinned).
- Increases ad visibility during key shopping moments, like holiday sales, through personalized promotions and Deals ads modules.
- Performance+ ROAS Bidding:
- Enables advertisers to optimize for Return on Ad Spend (ROAS) by predicting the value of potential conversions in real time.
- Ideal for brands with a variety of product price points, helping them target users most likely to make high-value purchases.
- Automation for Faster Campaign Creation:
- Reduces campaign setup time by 50%, allowing advertisers to create high-performance campaigns with fewer manual inputs.
How Small Businesses Can Benefit
Here’s a list of takeaways for small businesses looking to harness these new tools:
- Maximize Ad Efficiency: With Pinterest Performance+ campaigns, you will be able to get better results faster with better targeting, optimization and bidding.
- Boost Engagement with AI: Use generative AI to transform flat product images into lifestyle photos, making your ads more visually appealing and tailored to Pinterest users’ tastes.
- Lower Your Costs: Early testers saw significant reductions in cost per action and cost per click, which means you can get more results for less money.
- Leverage Promotions: Shoppers are actively looking for deals, especially around the holidays. Pinterest’s new Promotions tool helps you target these deal-seekers, leading to increased conversions and higher engagement.
- Increase Return on Ad Spend (ROAS): Pinterest’s new ROAS bidding feature helps you capture high-value customers by predicting which users are most likely to make a purchase. This feature has already led to a 15% increase in ROAS during testing.
- Bundle Features for Better Results: Pinterest’s new tools can work even better when used together. By combining AI-generated backgrounds with Promotions and ROAS bidding, you can create a high-performing campaign that delivers the right message to the right audience at the right time.
Pinterest’s latest updates make it easier than ever for small businesses to create stunning, effective ads that drive results. Whether you’re a small retailer or a growing brand, these new tools can help you reach your goals faster and with less effort.
Get Better Results with Pinterest Ads
If you’re ready to take full advantage of Pinterest’s powerful new tools but aren’t sure where to start, PinHouss is here to help (check out this client’s Pinterest ad case study!). Our Ad Management service is designed to optimize your campaigns, ensuring that you get the most out of Pinterest Performance+ and the latest AI-driven features. From transforming your product images to managing ROAS bidding, we’ll handle the heavy lifting so you can focus on growing your business.
Let us help you create smarter, more efficient ads that drive real results. Schedule a Free Discovery Call today!
