"Ad innovation on Pinterest has been at an all-time high. We're still the place for brands to drive discovery, but we're now delivering on lower funnel and creative too," Pinterest Chief Revenue Officer Bill Watkins said in a statement. "Brands are increasing Pinterest in their media mix and they no longer need to choose between awareness or lower funnel performance. Now they can have both."
"Performance+ will enhance ad creative, optimize budget management, and use Return on Ad Spend (ROAS) bidding to determine ideal spending levels. It also streamlines A/B testing for more effective campaign performance."
Pinterest claims that in early testing, most advertisers saw at least a 10 percent improvement in cost per acquisition (CPA) for Conversion and Catalog sales campaigns and a similar percentage in cost-per-click (CPC) for Consideration campaigns.
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