Pinterest had many new and exciting updates following their Pinterest Presents event this week and there is a lot of information to go over.
The Power of Pinterest in the World of Social Media
Caption: Pinterest has grown to a social media giant over the years, generating a lot of influence.
Pinterest is one of the most popular social media platforms out there with over 522 million users with more than 40% of those users being from Gen Z. Pinterest for years has been a great platform for advertisers to invest in the upper funnel but they wanted to see more from the bottom of the funnel efforts, well Pinterest heard and has responded accordingly.
Before we get into some of the platform updates discussed let’s quickly review some of the current consumer behaviors that are seen on the platform.
- Pinterest is the primary shopping destination for Gen Z. This unique audience is very active online and Pinterest is the place to be for shopping inspiration
- Pinterest is recognized in the industry as a positive and inclusive platform that is safe for all users. This is beneficial for advertisers as they can be assured their content will not appear next to negative or hateful content
- Pinterest is utilized for discovery and visual searches. The platform is very much like a search engine with millions of searches that are happening daily
- Many users are already in market but undecided leading to them searching the platform for product inspiration
Here are some of the exciting updates that were shared by Pinterest.
Pinterest Shopping Experience Updates:
- Focused expansion on shopping ads and shopability features. AI model enhancements have led to an 18% increase in link clicks with a 9% increase in conversions
- Integration with Google Analytics for tracking sessions.
- Engagement boosting features: Premiere Spotlight, Showcase, and Quiz Ads.
- Enhanced lower-funnel performance with doubled outbound clicks year-over-year and improvements in both conversion rates and measurability.
- Achieved a 50% reduction in cost per click (CPC)
AI and Automation Amplification to Stay Relevant in the AI World:
AI has taken over the digital marketing space and Pinterest is introducing it to their platform.
- Leverage AI to enhance efficiency and effectiveness.
- Introducing Performance+ suite for automated lower-funnel ad products, catering to:
- Consideration
- Conversion
- Catalog Sales
- Performance+ Creative: Transform simple ads into engaging visuals using generative AI without the need for a photo shoot.
- Accurate ad delivery tailored to individual preferences through dynamic personalization.
- Personalized background generation for a unique connection with the audience.
Pinterest Announces Future-Oriented Developments:
- Introduction of Pinterest Conversions API (CAPI) for advanced data sharing.
- Tagless and cookieless tracking via server-to-server connections.
- 10% CPA improvement with the implementation of CAPI and tags.
- Pinterest CAPI Connect allows for cloud server integration, such as through Amazon Web Services.
Maximize Pinterest Efforts in the Era of AI
Pinterest is emerging as a powerful platform for advertisers in the AI-driven era of digital marketing. With user search demand at an all-time high, the platform’s advanced AI tools, data integration, and creative ad formats enable brands to target in-market consumers and drive engagement, performance, and conversions across all stages of the consumer journey.
For more information on how you can maximize and get the most out of your Pinterest marketing please book some time with our team of experts.
