The widely used visual discovery tool, Pinterest, has recently introduced several new tools for advertisers that can boost the efficacy of advertising campaigns by utilizing artificial intelligence. In this regard, the social media giant has developed an automated ad campaign system called ‘Performance+,’ which uses AI and has also added a component that generates divergent backgrounds based on users’ preferences for product images.
The ‘Performance+’ tool, delivering the ad in question via Promoted Pin, is specifically designed as the use of Google AI to control every aspect of the advertisement’s creation, with minimal input needed from the advertiser. Through leveraging on the ad creation and the audience matching features of the social site, the advertisers would enhance their experience as early trials have indicated that most of the advertisers got a figure of more than 10% enhancement in the cost per acquisition (CPA) for Conversion as well as Catalog sales campaigns or about similar enhancement in cost per click (CPC) for Consideration campaigns.
“At Pinterest, we are committed to delivering innovative solutions that empower our advertising partners to drive exceptional campaign performance,” said Bill Watkins, Chief Revenue Officer at Pinterest. “Our new AI-powered tools harness the power of advanced machine learning algorithms to streamline the ad creation process and deliver more personalized and engaging experiences for our users.”
This has also considerably decreased the time it takes to create a campaign; it has been halved thus enabling advertisers to increase Pin performance with a lot of ease. This sequential manner allows the advertisers to stick to their business goals while incorporating Pinterest’s AI features.
Another tremendous feature in Pinterest’s AI advertising tools is the automatic background generation in the product images. This unique tool optimizes the creative portion of the advertisement by synchronizing the images of the products with the relevant personal tastes of users. Pinterest’s system assigns a lifestyle image to company’s Product Pins, which increases interest and gives more related context to the consumer. Should a user have a certain kind of preferred style he or she is inclined towards, the tool will take into consideration this aspect when designing the product background, and therefore chances of users showing interest in the tool are likely to be high.
Another feature that Pinterest is expanding towards its primary app is the Shuffles app’s implementation through ad collages. This feature enables the advertisers to post collages which contain images with the products listed on them. Users can also tag products in their collages and share them as Showcase or Collection ads which allow a user to tap and get more details of the brands and products involved.
These updates are part of Pinterest’s new “Ad Labs,” an innovation initiative that will be focused on the experimental development of new creative and advertising solutions for brands. Thus, Pinterest wants to offer advertisers advantage solutions based on the use of AI that will result in improvements of the campaign performance, the attractiveness of the platform to consumers, and, as a consequence, a greater value for advertising partners.
With the changing trends in advertising as exhibited by the shifting consumer behaviors and technological advances, Pinterest is well placed to deliver on its innovation agenda and is well endorsed by its exploration of AI technologies. This gives a lot of growth opportunities to brands to reach their targeted consumers in a more effective and efficient improved manner, this is according to Pinterest.