Bill Watkins, the CRO of Pinterest, dives into the platform's transformation into a performance marketing powerhouse. He discusses the ambitious investment in lower-funnel advertising, showcasing tools like Performance Plus that enhance user engagement. Watkins also highlights Pinterest's commitment to positivity and mental well-being in contrast to other social media platforms. He explores the challenges marketers face with giants like Meta and Google and emphasizes Pinterest's unique approach to creating a healthier digital environment.
Pinterest is strategically emphasizing lower-funnel advertising products and new tools to attract performance marketers amidst competition from Meta and Google.
The launch of Performance Plus, an AI-driven advertising suite, enhances targeting and automation, marking a pivotal shift in Pinterest’s approach to performance marketing.
Deep dives
Pinterest's Shift Towards Performance Marketing
Pinterest is actively working to reposition itself as a viable platform for performance marketing budgets, which is evident in the significant strides the company has made in recent years. With an emphasis on lower funnel ad products, Pinterest has rolled out numerous tools and resources designed to attract advertisers looking for performative results. The growth in ad impressions and relevance reflects the advertisers' increasing confidence in Pinterest's capabilities, with data showcasing impressive gains in clicks and conversions. This transformation highlights a broader recognition within the advertising community that Pinterest is not just an inspirational platform but also a place where performance marketing can thrive.
Introduction of Performance Plus
The launch of Pinterest's AI-driven advertising suite, Performance Plus, marks a significant development for the platform, particularly in addressing the needs of performance advertisers. This suite offers enhanced targeting tools and automates various aspects of ad placement, allowing advertisers more flexibility and control to optimize their campaigns based on specific objectives. Performance Plus aims to differentiate Pinterest from its competitors by leveraging unique first-party data, driving increased engagement and efficiency. The positive feedback and substantial campaign results from advertisers using this suite indicate a promising shift in Pinterest’s capability to meet the demands of performance-driven marketing.
Commitment to Positive User Experience
Pinterest distinguishes itself by fostering a positive and inspirational environment in contrast to the toxicity seen on many other social media platforms. The focus on creating a safe space, particularly for younger users, includes initiatives like private accounts for users under 16, as well as promoting mental well-being. This commitment resonates well with users, as many come to Pinterest not only to discover ideas but also to engage in a shopping journey while feeling secure. By emphasizing positivity, Pinterest aims to set itself apart as a brand-safe platform that successfully combines inspiration with commerce.
Evolving Shopping Experience on Pinterest
Pinterest has been evolving its shopping experience, aiming to be recognized as a go-to platform for e-commerce while enhancing the shopping journey for its users. Recent features, such as deal ads and promotional campaigns, have been introduced to capitalize on seasonal shopping trends and consumer interest in discounts. The integration with major retailers like Amazon allows a wider selection for users, ensuring they can shop in a way that suits their preferences—either directly through Pinterest or by being redirected to merchant sites. This flexible approach not only satisfies user demand but also improves conversion rates, reinforcing Pinterest's role as an influential player in the digital shopping landscape.
Having nipped at Meta’s and Google’s heels for years, Pinterest is finished with being the underdog. It’s been getting very “serious” about its investments in lower-funnel advertising products, says Pinterest CRO Bill Watkins.
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