Pinterest announced at the Pinterest Presents event that it is launching generative artificial intelligence products for its advertisers. The company introduced automation and AI features as part of the Pinterest Performance+ package.
With the AI features of Pinterest Performance+, advertisers can transform white, blank, or plain backgrounds into lifestyle images. This capability, which we’ve already seen among tech giants like Amazon, Google, and Meta, as well as in the Crait AI venture, is now also becoming apparent on Pinterest. Advertisers looking to improve their Product Pins and drive more conversions can benefit from this feature.
According to information shared at the Pinterest Presents event, Walgreens tested Pinterest’s generative AI technology on 50 products across multiple categories. The company stated that by showcasing its products in a Pinterest-specific way using AI-generated backgrounds instead of standard white backgrounds, it achieved a 55% higher click-through rate. Similarly, they noted that the cost per click was 13% lower.
Pinterest indicated that using AI and automation features together allows advertisers to create campaigns with 50% less input required. Users can mix and match different products from Pinterest Performance+. Additionally, there will be a feature that optimizes bidding for maximum value during the bidding process, enabling advertisers to go beyond just click or conversion volume options.
According to data shared by Pinterest, advertisers saw a 64% reduction in cost per action in initial tests. Advertisers experiencing a 30% increase in conversion rates achieved a 1.8x return on advertising spend.
In addition to these developments, Pinterest announced the Promotions tool, which offers users discounts. Personalized Promotions and Offers advertising modules will help Pinterest users display sales and discounts. These tools will be available at the request of advertisers in the U.S., U.K., Canada, Australia, France, Germany, Mexico, Brazil, and Japan. Meanwhile, advertisers from around the world will have access to Performance+ campaigns for Consideration, Conversions, or Catalog Sales.
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Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
