Pinterest is introducing Performance+, its version of artificial-intelligence-powered media buying tools similar to Meta Advantage+ and Google Performance Max.

“The key difference with Performance+ campaigns from traditional campaigns is that the setup is optimized to drive the maximum performance possible for advertisers on Pinterest with significantly less effort,” Pinterest chief revenue officer Bill Watkins told ADWEEK.

Pinterest’s ad revenue is projected to increase 17.2% this year, reaching $2.66 billion, up from 5.8% in 2023, according to eMarketer. An AI buying tool will likely add another boost to its fortunes.

CPA and CPC improvements:

• Early testing saw over 10% improvement in cost per acquisition for conversion and catalog sales campaigns.
• Consideration campaigns saw a more than 10% improvement in cost per click.

Advertisers can set inputs like budget, country, age or product groups they want to focus on, and Pinterest Performance+ manages the placement, decreasing campaign creation time by 50%, the company said.

Ad buyers evaluate performance in the platform’s ads manager. 

Why we care: To compensate for signal loss, platforms including Meta, TikTok, Google and most recently Yahoo have leaned into automation and machine learning to recommend and manage ad placements for advertisers. In return, these platforms promise better campaign performance.

While convenient, buyers are skeptical of some of these shiny AI tools for not offering details about where ads are ultimately placed.

Nearly one year after the launch of Meta’s Advantage+, some marketers have been underwhelmed, finding the results inconsistent.

What’s next: Pinterest is also testing a collage ad format for advertisers to make content more shoppable and discoverable through promotion.

Furniture and home goods company Wayfair is seeing some success, creating collages with decor and furnishing, driving 28% more efficient CPC and 5.4 times higher engagement compared to retail vertical benchmarks. The company didn’t share specifics.