Pinterest 23% growth & Pinvision extravaganza

Category: Social Media
Pinterest 23% growth & Pinvision extravaganza

Flipping the script on traditional ads conferences, Pinterest disrupted expectations today with its annual advertiser summit – Pinvision. This comes after they announced their First Quarter 2024 Results revealing 23% revenue growth and more than half a billion monthly active users.

So Pinterest are doing something right and that something is a very obvious increased clarity and focus on shopping. Yes there’s a lot of top of the funnel activity on Pinterest, but now the bottom of the funnel is getting attention and it’s converting Pinterest boards into clicks to brand websites and purchases.

Q1 was a milestone quarter for Pinterest as we reached new highs: surpassing half a billion monthly active users and reporting 23% revenue growth – our fastest user and revenue growth since 2021. Thanks to our investments in AI and shoppability, we’re driving even greater returns for advertisers and gaining access to performance budgets. We’re executing with tremendous clarity and focus, shipping new products and experiences that users want, and in doing so, we’re finding our best product market fit in years.

– Bill Ready, CEO, Pinterest

Pinvision annual advertiser summit

So what was going on today? Well, through a captivating theatrical journey, guiding advertisers through Pinterest’s inner workings, the experiential tour spotlighted how advertisers and brands can engage with the platform’s users and shoppers via its performance tools (shout out to the magnificent host Ash!).

Reminiscent of Punchdrunk or Sleep No More, with live actor performances and interactive demos, the event showcased how Pinterest offers a different inspirational experience for brands and users to connect, plan and shop.

Breaking preconceived expectations of ads conferences, we saw Pinvision as the perfect opportunity to ‘unboring’ and completely reimagine the traditional format and inspire brands by showing, not telling, how Pinterest is a unique, full-funnel platform.

This is a new era for performance at Pinterest, and what better way to tell that story than through an immersive live experience that brings the platform to life, showing advertisers how they can reach their audience at all stages of the purchasing journey.

– Laura Gaffney, Director of Business Marketing, EMEA and APAC, Pinterest

From the moment guests arrived, they were immersed in the world of Pinterest, taken on a journey through conceptual rooms and even a gift shop:

Guests were guided through to the Discovery Den, featuring a life-sized Pinterest board diving deeper into the platform’s audience and the world of Gen Z. In a game show-style set-up, guests also had the opportunity to learn about the power of Pinterest’s algorithm for discovery and taste refinement.

In The Board Room, guests learnt more about Pinterest’s suite of performance products, all brought to life through brand success stories.

Moving into The Mind, interactive demonstrations presented how Pinterest gives inspiration to its users with positivity at the core, as brands are able to maximise conversion visibility.

Culminating at the Pin Emporium – Pinterest’s very own colourful gift shop, allowed guests to take away their own customised goodies, showing how the platform drives conversation amongst its engaged Gen Z audience.

We’re so excited to bring Pinterest to life in this totally unique way. We’re offering advertiser audiences the rare chance to see something genuinely different, an immersive theatre experience that puts the audience member first, whilst still communicating all the key information Pinvision is looking to deliver. Through a mix of live action, tech, theatrical magic and interactivity we hope to offer an ads event that’s genuinely worth talking about.

– Ollie Jones, CEO and Co-Founder, SWAMP

Brands like Sweaty Betty are turning to Pinterest to leverage its advertising solutions and drive performance. Activewear trend data revealed related products that customers are searching for, along with what type of exercise they are most interested in. Through conversion insights, Sweaty Betty could see how their product categories perform on Pinterest, and then move customers from inspiration to action through dynamic retargeting.

Each month, over half a billion people around the world come to Pinterest to make inspired purchasing decisions for their everyday life. It’s where they get inspiration, find new dreams, plan and shop for the moments that matter most. Because the platform is grounded in the future, Pinterest gets an earlier indication of where consumers are headed and can help brands predict what is to come.

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