← Simple Pin Podcast: Simple ways to boost your business using Pinterest
Simple Pin Podcast: Simple ways to boost your business using Pinterest
NEW AI Pinterest Ad tool Performance+
00:15:45
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Kate All
You're listening to the Simple Pen podcast, Pinterest for business advice that goes down smooth and easy. Here's your host, Kate All. Hey there and welcome back to another episode of the Simple Pin Podcast. I'm. I am your host, Kate All. If you are listening in your podcast app player, thank you so much for listening. Don't forget to subscribe if you're watching on YouTube. Hello. And if this is the first time you're ever watching a video of simple pin Media on YouTube, welcome. We are a Pinterest marketing agency and we are so glad that you are here today. We're going to be diving into a new Pinterest ads feature. It was one that was announced just recently at Pinterest Presents. I got pretty excited about it because I'm a little bit nervous around Pinterest ads. They kind of scare me. So when I saw this come out, I thought this could be a really cool tool. It's called Performance Plus. I will leave all the links to Pinterest Presents video. The Performance plus article that Pinterest has written, I'll leave those all down in the description for you as well. I do want to say, because this is so new to the Pinterest ad suite of options, you can certainly run it on your own. But if you're anything like me, you need a guide and somebody to ask questions to. So you can book a consult call or a series of consult calls with our ads director so that she can help walk you through what things you need to test or change or add into your campaign. Or if you should even try Performance plus campaigns for your Pinterest ads. So scroll down below and you can book that call. It's one hour. We'll go deep into your ads and how you're going to really leverage those for your business. Also, we do management of ads too as well. We like to specialize in the e commerce space. We have had great client success with those selling products on Pinterest. So if that's something you'd like to outsource to our team, you can click on that link as well. Okay, what is Performance plus ads? I'm going to tell you. The, like layman's version, because I am not. Ads scare me. I'll be honest. Any type of ad, there are people that geek out on it. Their brains work this way is just the best. They love Facebook ads, Instagram ads. They love Pinterest ads, right? But for me, I'm always afraid I'm going to choose the wrong thing. And let's be Honest, you're spending money. You are. I think of it like gambling. You're putting money out there. You don't know if it's going to work. And it is a little bit of a risk. But. But what I do know is that when you tweak and change and really dial in your ad, it can scale significantly for you, which means you can make money faster than you could organically. So you can put in a dollar and you can get out a dollar 30. If we were standing at an ATM, you would do this all day long, right? So when ads work, they really, really work. So let's talk about this performance plus. Essentially, it's an AI version of running an ad. I like what they said. It's essentially a way to help setting up ads that much easier and to target lower funnel performance. If you're going, what in the world is lower funnel performance? It is consideration conversion or catalog sales. So we talk about the full funnel on Pinterest. We have awareness at the top. And this is really like, ooh, aha. What is this new brand? What is this new product? It's the discovery phase. Then we get into this part of consideration where we go, I'm really interested. I want to learn more. And then we go into conversion and catalog. So these things all have to happen in order for you to get a sale. But what if you could target people right at that consideration conversion piece to where they're much more primed to buy and you could set up your ads in half the time with all the best practices built in. That is what they say about performance plus ads. You are still in control, you are still in charge of how it all works. But we're going to leverage AI technology to make it a more efficient ad for you. I have a little bit of skepticism about that. So that's why I suggest you, if you want to run these, have somebody as a guide while you working through them. Also, I want to note that just putting dollars behind something won't guarantee success. If you already know that you have a high conversion rate or a pretty good conversion rate on a particular product, that is great news. Because then you could take something like this, you can put ad dollars behind it, and you will increase and get greater sales. You will scale it, right? But if you have a product that's not really tested, you haven't really looked at the conversion rate in your landing page. You don't know if people are going to buy putting money behind it. It might get you some information, but it's definitely not going to skyrocket your sales. There's a phrase that people use. Putting money behind something doesn't fix a broken funnel. So make sure you have these things in place before you put money behind ads. So another thing, another, like, negative downside before I kind of dive into these is you can't optimize campaigns in Performance plus, so you have to have the budget to kind of let it run and trust the algorithm. So there is, again, a little bit of risk if you don't fully trust it yet. But I do like what Pinterest says, where you can turn elements on and off so you can have a little bit more control of the overall ad experience. So let's talk about what it is. It's Performance plus, like I said, which is AI, but it has five, five parts to it. In its Performance plus suite, it has Performance plus Creative, Performance plus bidding, Performance plus return on ad spend, Performance plus budgets, and Performance plus targeting. I went into my ads dashboard and I walked through everything here all the way to the end. I did not start an ad. I just wanted to see how it works. It was really intuitive. It was actually pretty easy, which I loved. Right. For somebody who feels like either going into the dashboard has been confusing. We've heard that from a lot of people who come from the world of Facebook ads. They hop over to Pinterest and they don't know where anything is. They don't understand it. On the flip side, we have a lot of people who've only used the Pinterest ads dashboard that love it, and then they go to Facebook and they're like, this doesn't make sense to me. So it's pick your poison, whichever one you like. Right. But all that being said, the whole goal is to really speed up the time it takes in order to start a campaign. Winner. Winner. I love it. So there's a few things I want to talk about when it comes to bidding, when it comes to some other things, but I want to touch on this Performance plus Creative. So this is a new thing that they've been testing with some customers, and their example that they used was a perfume bottle from Walgreens. It's a standalone product, and what you can do is you can add a background. And their hope with adding these backgrounds is that you will be able to cater it to the type of audience that you're targeting. So if you're targeting, like a minimalist audience, you can have a minimalist background. If you're targeting something that is more of a different type of background, you can change that up, right? So you don't necessarily have to have lifestyle photos for your product. And what they tell us is that walgreens saw a 55% higher click through rate when you added these backgrounds. Here's how I see this being super cool for E commerce sellers. If you are in a position where you have products that are just standalone images like this Walgreens bottle and you know that your audience is bent towards a particular type of style. By the way, you can find out a lot of this information in Audience Insights inside Pinterest, which is pretty cool. I love that you could go in there, you can see what the age, the demographic, all of that information in there. So let's say that you know your audience is Gen Z. Maybe they or Millennial. I'll pick that because Millennials used to like this pink color, right? Millennial Pink they called it. Maybe you know that that is your target audience. So you're going to use these particular types of colors. This allows you to import a background in there that's picked from AI based on what you think the targeting audience will like. That's awesome because not everybody can take. Well, you might even have lifestyle pictures, but this just takes another layer and adds a layer to it which I think is, is really cool. So Performance plus, when you're going through it, you can click on all these different things to add into it. Creative bidding, you know what your ROAS is, budget targeting, all those kinds of things. What Pinterest is saying is you could choose from all of these just to add them to a package. You can just trust us that it's going to work, right? I'm a Gen X, I am very skeptical of most things. So I love that they bring in this element where you can also have modifications for your ad groups and you could also add pieces and parts to it so that you don't have to feel like you need to trust all five components. But you can trust like maybe you want to trust the creative, but you don't want to trust the bidding. Maybe you don't want to trust the return on ad spend. It's really up to you. They want this to be flexible, but their whole goal here is to cater help you, you know, create ads but then cater them to who is going to be clicking on them so that you get the conversion right. Target the audience with the tools that get conversions. Another thing that they were saying is that Performance plus helps to drive a return on ad spend to predict the value of conversions in real time. So the goal is to get Sales with minimal effort and a good return on ad spend. They really believe this is a game changer. They are committed to you getting results from these ads and they're working with multiple partners to make sure that they can do AB testing, that they can trust, that it's a really viable product, that they're not just saying to you, try Performance Plus. We think it's amazing. But they shared some stats that with performance plus, there's been a 30% increase in conversion results. And in the US for a brand, I didn't write it down, but I'll link to it and you can watch it. Timberland had a 50% acquisition return on ad spend in the UK, 50% increase. And so they're seeing some bigger brands have super great results. They see this as a game changer. Like I said, they want this to be the place where you put your ad dollars. And if you go Back to episode 400, I recap. Pinterest presents and one of the things, the themes, I guess you would say, that was going throughout this whole presentation that they put out there is that they know the ads have been troublesome or haven't really worked in the past, but now they want to make sure they're working. They want to test their theories, they want to get you the results that they're looking for. They want Pinterest to be a place where conversions can happen. And in order to do that, they need to also make ads easier to run. So some people I know, I have this conversation with Aaron, our ads director, they're a little bit worried about this. If you're an ads manager, you think that it takes place, takes your place. So essentially nobody needs to hire an ads manager anymore. I don't believe that is true. Because an ads manager doesn't just really go into your ads dashboard and build your ad. They're consulting on a lot of different things. They are consulting on targeting, they're consulting on your PIN image. Your PIN image makes a huge difference to your ad. If you don't have that nailed, well, it kind of doesn't matter because people are going to scroll right on by anyway because a Pinterest ad folds into the other pins that are in the platform. So you need somebody to guide you. You need somebody to give you direction, benchmarks, accountability, a lot of those things. If you know that you can really nail those things, you might not need an ads manager. You may just need a consult. But if you've never done ads before and you haven't considered these other people, these other pieces hire somebody to help you because you don't want to waste your money. I know that you're putting more money into hiring somebody, but it's going to be worth your time a hundred percent. So here's where I'm going to leave you. Play around with Performance Plus I think it's a really cool ad product that Pinterest has released. Watch the short video. I believe it was 5 minutes and 14 seconds. It's very short. It's not going to take a lot of your time. Go ahead and watch that one about Performance Plus. And then this is what I did. I went into my ads dashboard. I grabbed a pin and I just walked through the setup. Before I hit the final button, I played around with the daily budget. I believe it was set to $25. I dropped it down to $5 a day so you can play around with that as well. And I just kind of set my targeting. I kind of just played around with it to see if it would actually work. Even if you do hit start, remember you can hit stop. So it's not that big of a deal. For those who have never considered ads, for those who are wondering whether or not ads are a part of their whole marketing plan, here's the way that I look at it. When you're using Pinterest organically, there's a lot of data that you can get. But if you want to target for a specific product or a conversion, like an email list growth or something like that, this can get you there faster if you have the budget to spend on it. So using Performance plus to really reach that goal, maybe a little bit quicker within the budget that you have, is certainly an excellent option. If you have more questions or you're wondering about Performance plus or you have tried it out yourself, if you're on YouTube, you can comment below this video. We would love to hear about your experience. When there's a new feature on Pinterest that is what we want to do. We want to ask the community if they've used it what their experience has been. We would love to know more. If you're listening in the podcast app, you can certainly hop over to YouTube and join the comments and you can see what people will have to say. We'll put that link down down below in the podcast app or you can DM us on Instagram. We are at simplepin Media and ask us a question there. Alrighty. I hope that you would be willing to try Pinterest ads, especially Performance plus, see what it's all about and give us your response. Thanks so much for watching on YouTube. Thanks so much for listening on the podcast. Until next time, it.