Pinterest announced two new artificial intelligence-powered ad options for small businesses, as the platform looks to expand its revenue base by bringing more SMBs into the mix.
Building out its AI-powered Performance+ suite, Pinterest is adding Performance+ new customer acquisition, which aims to help SMBs focus on acquiring new customers. Pinterest is also launching one-click Performance+ shopping for Shopify merchants.
First, Performance+ NCA will give advertisers more control over how much they want to pay to reach new customers, as well as improved targeting to hone in on the right audience.
Advertisers will be able to upload or define an existing customer base in order to establish the targeting parameters for the process. Subsequently, businesses will be able to assign a higher value to new customers through value rules in order to focus promotional efforts on new buyers.
The idea is that this will enable Pinterest’s system to automatically identify users with similar traits and interests, and bring in more business.
Pinterest said that in testing, Performance+ NCA drove a 64% increase in new-customer conversions on average.
Pinterest’s one-click shopping promotions, meanwhile, will make it easier to launch Pin campaigns for Shopify users.
As explained by Pinterest: “Our new pre-built Pinterest Performance+ campaign templates are designed to do just that, and are available for eligible merchants from Pinterest’s Ads Manager or directly in Pinterest’s Shopify integration.”
Eligible merchants will be able to launch a Pinterest Performance+ shopping campaign directly from its Shopify integration, “with best practices enabled by default and ready to launch in a single click,” Pinterest said.
Pinterest is working to expand its ad business and capitalize on key opportunities after posting a lower-than-expected revenue in the first quarter of this year. That work will primarily be focused on building up international markets, but Pinterest is also looking to drive more growth from SMBs as a means to maximize its intake and showcase opportunities.
These two new options are steps in that direction, which could end up proving valuable for SMB marketers.
