Pinterest

Pinterest Releases the Performance+ Suite

A huge new feature for Pinterest was unveiled in October. Performance+ is Pinterest’s answer to Meta’s Advantage+ options. Pinterest has announced the roll-out of new AI and automation campaign features to make campaigns smarter, more efficient and more powerful. 

The update was released as the Performance+ Suite, covering a lineup of AI and automation lower-funnel ad products. Since October, every Pinterest advertiser (worldwide) now has the option to use Pinterest Performance+ campaigns for Consideration, Conversions or Catalog Sales objectives.

Here’s a breakdown of what each feature entails:

Performance+ campaigns

Pinterest Performace+ campaigns are useful for advertisers looking to drive lower-funner performance. This new feature allows optimisation on targeting, managing budgets or deciding how much to bid in campaigns. With AI and automation features, Performance+ campaigns can decrease creation time significantly with 50% less input required when building ads. 

Performance+ creative

For advertisers looking to spruce up their creative and introduce more engaging ads at scale, Pinterest has introduced Performace+ creative. Catalogue items with blank or flat colour backgrounds can be transformed into lifestyle imagery with Pinterest’s generative AI.

These product pins can now use Pinterest-generated backgrounds, which add a photo to the background of the image. This is useful for marketers looking to enrich their content, but we’ve seen that some can look bizarre and you will be unable to see the final result ahead of publishing.

Performance+ bidding

Pinterest’s new bidding automation for ROAS is now also available. Previously, Pinterest’s bidding was optimised for clicks or conversion volume, but the option to optimise for the highest value has been introduced with Performance+ bidding. This feature will be useful for advertisers with a range of products with different price points and can help target users who are likely to purchase larger orders.

Pinterest introduces a new way to share boards

With over 518 million monthly active users, Pinterest is the go-to place for inspiration. The platform is now making it easier for users to share their inspiration with others.

Whatever their aesthetic, the new board-sharing feature allows users to easily share their Pinterest boards to other social platforms. This new feature streamlines the process of sharing Pinned content and gives users the ability to share a link to explore their entire Pinterest board.

The Director of Consumer Product Marketing at Pinterest, Rachel Hardy, said the following…

“Gen Z makes up over 40% of our global monthly users on Pinterest and are our most engaged generation, with a significant increase in the number of boards created by Gen Z Pinners compared to last year. We are enhancing the board features based on user feedback and, this year, board sharing is one of our critical investments as users value the ability to share their creative processes on different platforms and find inspiration from others.”

For users like Gen Z, Pinterest isn’t just a platform, it’s a space where they can express themselves without external pressures.

For the launch of board sharing, Pinterest has partnered with Avril Lavine and Tierra Whack to showcase their never-before-seen private boards. This new feature is an opportunity for users to foster genuine engagement among communities and provide a window into the inspiration behind creative projects.

How to share your Pinterest boards (sourced from Pinterest Newsroom):

1. Go to your public board you want to share
2. Tap the share icon in the top right
3. A video will auto-generate
4. Click on the “Add to Story” button or “Download” the video to share anywhere
5. Optional: Tap the “Edit” icon to edit Pins or select a different template.
6. Copy board link.
7. Click on the “Share Story” button. Instagram will automatically open.
8. On Instagram, tap on the “Stickers” icon
9. Choose “Link,” paste the board’s URL, and click “Done.”
10. Share to your Stories!

Pinterest Launches Automated Campaigns

Automated campaigns automate the ad campaign creation process by combining an advertiser’s goals with Pinterest best practice recommendations to help you deliver results with less manual work.

As we all know, when a new feature becomes available on a social media platform it’s not long until the others recreate this and make it their own. For Meta Advantage Plus campaigns, creative and any automation has had the biggest push over the last year or two and Pinterest now have their own version of this called… Automated Campaigns.

Pinterest to Collaborate with Google – February 2024

Last year Pinterest chose Amazon as their first third-party ad partner. This year, looking to continue driving the platform’s revenue, they’ve just announced that Google Ads will become their second third-party ad collaboration. 

What does this mean? PPC marketers will be able to serve ads on Pinterest through Google’s Ads Manager, however what this will look like is unclear. We know that if a pinner clicks on one of these ads they will be directed straight to the advertiser’s website to complete the desired action.

It seems that brands won’t have to worry about directly competing against themselves through their PPC and paid social advertising as the partnership with Google looks to help Pinterest monetise in markets they are currently not able to do so. This isn’t rolled out to everyone and from the people that have been able to use this feature they have seen positive results.