In the very beginning, the icon was often used on its own, as well as the logotype, which was created in the same year. It is a solid red circle with a smooth white letter “P”, stylized as an elegant pin, with its bottom parts of the vertical bar pointed. During Black Friday weekend, mobile deep linking accounted for 40 percent of Pinterest’s shopping ads revenue, Ready said on the call.The iconic Pinterest icon was introduced by the brand in 2011. For example, a user that clicks on an advertisement for Nike shoes in the Pinterest app would be directed to the exact listing on the Nike app, rather than the Nike app’s home page. Pinterest also began implementing mobile deep linking, which allows users to click through Pinterest to a specific page in another app rather than just the app itself. It also pleased advertisers because it lowered the cost-per-action, or the price advertisers pay when consumers take an action on the ad, like clicking it, Ready said in the company’s February earnings call. With this launch, Pinterest earns revenue from showing more ads, and users see more relevant ads. Since Ready joined Pinterest, the company rolled out a tool called whole page optimization, which increased the number of ads a user sees when they are shopping on the app. The LiveRamp partnership alone has made Pinterest’s ads more effective, and it has opened the door for collaborations with other businesses, UBS analysts said. A future partnership with Google, Ready’s former employer, could be a massive boost for the platform, they said. It is already working with LiveRamp, a California-based software company, to develop clean rooms, or digital spaces where advertisers and Pinterest can share their data. Ready’s revamped advertising strategy includes partnering with companies that can improve Pinterest’s targeting and measurement capabilities. Pinterest’s ad tech partnerships have already started benefiting advertisers, which positions the company for increased revenues in the future, UBS analysts said in the report. Pinterest’s yearly revenue increased 9 percent year-over-year, and while it still lost more than it earned in 2022, analysts are more confident in the company’s long-term potential. Last month, UBS changed its position on Snap and is no longer recommending investors buy stock in the app. Snap is facing similar difficulties and posted negligible growth in its most recent earnings statement as it tries to convince advertisers Snapchat is still worth spending on. As of January, Twitter’s daily revenue had reportedly dropped 40 percent from the year prior, according to the Information.
Pinterest’s competitors, as well as other media and tech companies, are fighting over a limited market for online advertising.
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