Pinterest has launched Performance+, a suite of products that leverages automation and artificial intelligence to optimize ads at the bottom of the funnel. This set of tools is now available globally for any advertiser looking to improve the performance of consideration, conversion, or catalog sales campaigns. Performance+ offers optimization in targeting, budget management, and control over CPA (Cost Per Acquisition) or CPC (Cost Per Click), significantly reducing setup time by cutting input requirements by 50%.
Thanks to AI capabilities, Performance+ campaigns make it easier for advertisers to make strategic decisions automatically or, if preferred, maintain control by grouping products according to brand needs. During the alpha and beta testing phases, most advertisers achieved a 10% improvement in CPA for conversion campaigns and more than a 10% reduction in CPC for consideration campaigns.
A notable example is Prada, which, during the launch of its Leather Goods campaign in the U.S., managed to reduce its CPA by 64% and increase its conversion rate by 30%. Additionally, they saw a return on advertising spend (ROAS) that was 1.8 times higher compared to traditional campaigns. These figures highlight how Performance+ is transforming advertising campaigns on Pinterest by providing significant improvements in efficiency.
Another key feature of this suite is the ROAS Performance+ offering, now globally available to qualified advertisers. This tool optimizes ads not only for clicks or conversions but also for maximizing the value of those conversions. By analyzing thousands of real-time signals, advertisers can maximize returns by targeting users with higher purchase intent, especially those with larger shopping carts.
Alpha testing showed that most advertisers experienced at least a 15% increase in ROAS, making this tool essential for retailers with diverse product ranges.
Furthermore, advertisers looking to create more engaging content at scale can use Performance+’s generative AI to transform product images. A standout example is Walgreens’ campaign, which applied AI-generated backgrounds to increase its CTR by 55% and reduce its CPC by 13% compared to traditional white background images. This type of dynamic, more engaging visual content helps users interact more with ads, enhancing the shopping experience.
In parallel, Pinterest has introduced Promotions, a new tool that allows advertisers to highlight discounted products during key shopping moments. This is particularly useful during the holiday season, when shoppers are actively seeking deals. Initial results indicate that campaigns featuring Promotions saw a 12.7% increase in conversions. Brands like Prose have also seen a significant impact, with a 48% higher CTR compared to regular campaigns.
Additionally, Pinterest is enhancing the search and home feed experience with personalized recommendations based on users’ search history. This allows advertisers to reach users more efficiently by presenting the most relevant offers at key moments.
From October 1st 2024, Performance+ AI tools from Pinterest will be available for the advertisers in the U.S, United Kingdom, Canada, Australia, France, Germany, Mexico, Brazil and Japan.
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