The Pinterest Performance+ Playbook: Strategies for smarter investment

Pinterest, the visually driven social media platform, has officially entered the AI-powered advertising game with the launch of Performance+. Pinterest’s Performance+ is a new suite of automation tools for Paid Social advertisers designed to maximise efficiency and results by guiding advertisers through the campaign setup process by simplifying ad creation, targeting, and bidding.

We’ve been among the first to trial the efficacy of the tools compared to the traditional setup, including elements like Performance+ ROAS, which (at the time of writing) remain in beta testing. Initial results from our client’s Performance+ campaigns show promising improvements:

• 10%+ lower CPA for Conversion and Catalogue Sales campaigns
• 30%+ lower CPC for Consideration campaigns
• Around 50% time savings in campaign creation

Since 2020, we’ve seen platforms such as Meta and Google take steps towards ad automation through formats such as Meta’s Advantage+ and Google’s Performance Max. Now that Pinterest is throwing its hat into the ring, are advertisers eager to give this black box solution a go? Despite the simplicity these formats offer, solely relying on automation isn’t always the best approach.

So what’s the key to success here?

Strategic experimentation and continuous optimisation.

In this blog, we’ll break down what Performance+ offers to Pinterest advertisers, how we approached it strategically, and what best practices we recommend based on our experience with AI-powered ad solutions.

What is Pinterest Performance+?

Pinterest Performance+ provides you with AI-powered tools that streamline your campaigns by offering AI to set up campaign creations, such as smart bidding and automated targeting based on campaign goals – ultimately taking more steps out of the manual campaign creation process. Below, we take a look at some of the solutions offered by Performance+.

Performance+ Campaign

A fully AI-automated campaign setup for Consideration, Conversion, and Catalogue Sales campaigns. The system optimises targeting, bidding, and creative delivery, enabling advertisers to launch campaigns with minimal manual input.

Performance+ Creative

Creative optimisation designed for Catalogue sales, this feature automatically generates shopping and collection ads. 

Creative backgrounds use Gen AI to replace plain product Pin backgrounds with inspiring lifestyle imagery.

Performance+ Bidding & Budgeting

AI-driven bidding dynamically adjusts bids to maximise efficiency. Budgets can be set as lifetime or daily, with automated distribution based on performance data.

Performance+ Targeting

Pinterest’s AI expands audience reach beyond traditional keyword and interest-based targeting by analysing the visual and written content of ads. 

Performance+ ROAS Optimisation

In open beta for users, this feature is designed to maximise conversion value while efficiently distributing ad budget. 

A Strategic Approach to Pinterest Performance+

While Pinterest recommends fully adopting Performance+ automation, we’ve learned from experience that strategic testing and optimisation are essential. 

Key considerations for Pinterest Performance+ campaigns

Pinterest’s Performance+ Campaigns can deliver stronger results than manually managed Catalogue sales, conversion, or consideration campaigns but only with the right approach.

Historical data is the key to better performance

Performance+ relies on historical conversion data to make informed decisions. When ad accounts and creatives have proven past performance, AI can optimise bidding, targeting, and creative delivery more effectively, similar to how Meta’s Advantage+ improves with established customer insights.

Without sufficient data, Performance+ may require higher budgets and extended learning phases before reaching optimal performance.

Creatives are the primary lever for success

Since AI manages targeting and bidding, creative quality is the most significant factor influencing performance. Pinterest is a visual-first platform, so aligning with its native aesthetic is essential.

To maximise engagement and conversions: 

• Test different ad formats (static, video, carousels) to identify what resonates across different audience segments and funnel stages.
• Experiment with multiple messaging and creative angles to refine positioning and improve relevance
• Ensure high-quality visuals as Pinterest users seek inspiration, so high-quality, engaging imagery is crucial for capturing attention and driving conversions.

Performance+ Bidding

Pinterest recommends ROAS Optimisation (highest value bidding) to maximise conversion value. However, our experience across platforms indicates that this is not always the best approach. As this was in beta at the time, we had to find out for ourselves whether Pinterest’s Performance+ ROAS bidding would outperform Performance+ Highest Volume.

We tested both the highest value (ROAS) and highest volume bidding strategies to see what worked best for different products and audiences.

The results show that ROAS bidding outperformed volume – however please bear in mind advertiser results may vary – and there may be strategic choices for choosing Volume over Value:

• For new campaigns or product launches, ‘highest volume bidding’ might be the preferred choice to ensure the algorithm gathers enough data to begin learning and optimising effectively. 
• For ROAS-focused campaigns, ‘highest value bidding’ might deliver better results only where there is sufficient historical data to guide AI decisions. However, because this approach usually drives lower conversion rates and fewer total conversions (albeit at a higher average order value), it can take a longer time to exit the learning phase, requiring a higher budget to be effective. 

Brands with bigger budgets, a wide product Catalogue, and varied price points might see the best results with Performance+ ROAS bidding feature. 

Performance+ Targeting

Like many platforms, Pinterest now recommends broad targeting as the ideal approach. However, our findings suggest a more nuanced strategy depending on product type and budget:

The results

• For products with a short conversion cycle and larger budgets, broad targeting enables AI to optimise at scale, driving efficiency.
• For products with longer consideration periods or smaller budgets, a more controlled approach yields higher-quality traffic and better conversion rates.

To optimise Performance+ Targeting for maximum impact, we’ve found out that:

• Layered targeting enhances efficiency. Combining interest-based and keyword targeting with Performance+ expansion often results in lower CPMs and CPCs while maintaining audience relevance.
• Monitor performance closely. Pinterest provides performance breakdowns for Performance+ targeting, allowing advertisers to refine strategies in real time. 
• Test and refine audiences. Experimentation is key, adjusting targeting settings balances reach and conversion efficiency for optimal results.

AI isn’t going away anytime soon, and as it develops and evolves, we will see it integrate closer into digital marketing. Marketers who are getting started with Pinterest advertising should embrace it as a powerful tool for maximising performance and scalability. Pinterest’s Performance+ exemplifies this shift, offering AI-driven automation that simplifies campaign management with a goal of maximising ROAS. However, as with Meta’s Advantage+ and Google’s Performance Max, the key to success lies in strategic experimentation and continuous optimisation.