Pinterest Presents is an annual event dedicated to sharing the latest Pinterest updates and insights into the platform’s strategies and tools for advertisers. This year’s presentation showcased the impressive advancements Pinterest has made, especially in improving its advertising capabilities. We strongly encourage you to watch the event, but if you’re short on time, we’ve summarized the key takeaways for you.
Watch: Pinterest Presents 2024
Before we dive in to the Pinterest updates, we’re celebrating a significant milestone here at Simple Pin Media: our 400th episode! It’s hard to believe we’ve journeyed together for this long, discussing all things Pinterest for business.
A Heartfelt Thank You
We want to thank you for being a part of this community. Whether you’re a longtime listener or just tuning in, your support means the world to us. This podcast has always been a platform for sharing knowledge about Pinterest marketing, and our team genuinely appreciates that you choose to spend your time here. There are so many voices in the digital marketing space, it’s a privilege to be one of them you listen to.
When Kate launched this podcast back in 2016, the landscape of Pinterest was vastly different. There were few resources dedicated to Pinterest marketing, and she felt a strong desire to fill that gap. Over the years, we’ve seen an influx of educators and resources, each with different philosophies and strategies. We strive to provide actionable insights that can directly impact your business, and we remain committed to being a reliable source of information as we navigate the ever-evolving world of Pinterest together.
Now, let’s jump into the latest Pinterest updates from Pinterest Presents 2024…
Key Pinterest Updates from Pinterest Presents 2024
The presentation kicked off with Bill Reddy, Pinterest’s new CEO, who discussed the platform’s mission to create a unique and engaging shopping experience. He emphasized that Pinterest is not just another social media platform; rather, it aims to foster a positive environment focused on user well-being.
Key Takeaways
- A Unique Shopping Platform: Reddy reiterated Pinterest’s commitment to being a distinct and competitive player in the market. With a current user base of over half a billion people, Pinterest is seeing significant growth among Gen Z users, who appreciate the platform’s focus on positivity.
- Connection to Catalogs: One of the key insights was the importance of connecting product catalogs to Pinterest. Reddy mentioned that advertisers who do so see five times more impressions and double the outbound clicks, which underscores the value of integrating shopping features directly into the platform.
- Full Funnel Marketing: Pinterest’s strategy is centered around a full funnel approach—awareness, consideration, and conversion. This means creating an intuitive path for users that leads from discovery to purchase. The platform is evolving to ensure that users can make informed buying decisions without needing to leave Pinterest.
- Shopping Experience Enhancements: Pinterest is continuously refining how users can interact with products. New features include highlighting boards that can serve as gift guides and making it easier for users to shop from these curated lists. This strategic shift aims to streamline the shopping process, making it more enjoyable for users.
- Collage Feature for Brands: Here’s the exciting aspect for product sellers: you’ll soon be able to create collages featuring your products and link them directly to your listings. This feature is still in the works, but brands are collaborating to design inspiring collages that drive engagement. Once released, you can run ads using these collages to test if they boost sales.
- Promotions and Discounts: Pinterest is implementing features that allow for easier visibility of promotions and discounts. Advertisers can highlight seasonal sales, making it easier for users to find discounted products that match their interests.
New Features Coming to the Platform
As Pinterest positions itself as a serious contender in the advertising space, the presentation highlighted the introduction of two AI-driven features–CAPI and Performance Plus–designed to optimize ad campaigns. These tools aim to improve efficiency and effectiveness, allowing advertisers to harness the power of automation while maintaining creative control.
The first new feature they mentioned is called CAPI (pronounced “Cappy”). This allows for easy API integration through cloud services like Amazon Web Services. They briefly mentioned an example with Chase Bank, which used Pinterest ads to connect with customers, but didn’t elaborate much further.
The second, and more intriguing part, is a feature called Performance Plus. This is essentially an AI-driven tool designed to enhance Pinterest advertising. The goal is to provide creators and merchants with a comprehensive advertising solution that covers the full funnel—from awareness to consideration to conversion.
During alpha and beta testing, many advertisers reported at least a 10% improvement in cost per acquisition for conversions and catalog sales, or a 10% reduction in cost per click for consideration ads. Performance Plus offers various options, including creative, bidding strategies, return on ad spend, budget management, and targeting.
For example, using Performance Plus, a bland product image (like a perfume bottle from Walgreens) can be enhanced with a striking background, resulting in a 55% increase in click-through rates. This tool is designed to streamline campaign launches.
However, as a company who runs campaigns for clients, we understand the hesitation around using AI to create ads. If you’re considering Performance Plus when it becomes available, we recommend consulting with our team first to ensure it’s the right fit for your needs.
“A New Era Of Pinterest”
They wrapped up the presentation with an inspiring message, highlighting Pinterest as a platform for audience growth, enhanced shopability, and lower-funnel offerings that drive conversions. They described this as a “new era of Pinterest.”
Many Chief Marketing Officers have voiced their struggles with conversions on other platforms and have turned to Pinterest for solutions. They understand these concerns and aim to make Pinterest a place where advertisers can achieve strong conversions and a solid return on ad spend.
If you’ve tried advertising on Pinterest in the past without success, it’s worth noting that the platform has evolved and is now ready to support your efforts. They concluded with a clear call to action: invest your ad dollars in Pinterest, as they are prepared to embrace the challenge and foster creativity.
This is a broad stroke of things mentioned in Pinterest Presents. Be sure to watch the event for more detailed insights, and rest assured, we’ll keep you updated on any new Pinterest updates as they roll out!
More Pinterest Marketing Resources:
Watch: The Latest Updates on Pinterest
