DENVER, April 06, 2022 (GLOBE NEWSWIRE) -- Ibotta, the company that disrupted the 100 year-old paper coupon industry with digital cash back rewards, announced plans to dramatically change the advertising landscape with the Ibotta Performance Network (IPN). The IPN is an industry-leading publisher and retail network that will soon reach more than 120 million shoppers in the US. This expanded platform gives advertisers unprecedented scale to launch “pay for sale” performance marketing campaigns.
Ibotta has been a trailblazer since its launch more than 10 years ago. The company consistently delivers industry leading ROI and data analysis to advertisers and retailers. Founder Bryan Leach started Ibotta with the belief that the best way for ad campaigns to drive conversion, from awareness to purchase, is by cutting the consumer in on the deal. That belief paid off with more than 40 million Ibotta app downloads to date and more than $1.1 billion (USD) in cash back reward offers redeemed. Unlike success metrics like gross impressions and click-through, each Ibotta offer is tied to the completed sale of an advertised product or service.
With the launch of the new IPN, Ibotta expands its scope to deliver B2B Rewards as a Service (RAAS) solutions to retailers, publishers, and advertisers in the CPG space and beyond. “Since the day we launched, Ibotta has looked to strengthen the connections between advertisers, retailers, and consumers,” said Bryan Leach, founder and CEO of Ibotta. “As we built our reputation with consumers, the relationships we made with advertisers and retailers kept getting stronger and stronger, producing a flywheel effect. We listened to their needs and realized we absolutely had the technology to provide solutions to their biggest challenges."
E-commerce is expected to account for 21.5% of all grocery sales within five years, according to a study by Mercatus and Incisiv, with 43% of shoppers purchasing groceries online in 2020 compared to just 24% in 2018. During the pandemic, population groups of 45 years and older made dramatic shifts to online shopping, with 46% adopting curbside pickup and 35% of shoppers ordering groceries online for the first time. More recently, 43% of all grocery shoppers cite shopping online in the last six months. This shift in consumer behavior means more shoppers than ever will be available to consider digital cash back reward offers prior to purchase.
Retailers benefit from increased traffic and the ability to create closed loop rewards programs, encouraging loyalty with consumer savings that are redeemable on future store trips. This summer Walmart joins the IPN, enabling advertisers to give brands high-profile exposure with purchase-ready shoppers at the nation’s largest retailer.
IPN campaigns are easy for advertisers to create, plug into the network and manage. Ibotta becomes the one-stop-shop to access the entire network and handles all the RAAS heavy lifting, including program setup and targeting, content delivery, purchase data ingestion, rewards adjudication, cash out and payments, billing and budgeting, anti-stacking and fraud prevention, reporting and analytics. Advertisers monitor performance and adjust strategies as needed using the easy-to-navigate IPN dashboard.
Ibotta Debuts New Brand Campaign
To support the launch of the expanded IPN, Ibotta will launch its first B2B brand identity campaign, including print, digital, and experiential ads built around the idea that promotions will never be the same. “The recent and upcoming changes by Apple and Google, and the continued focus on privacy, signal the end of digital marketing as we've known it,” said Rich Donahue, Chief Marketing Officer for Ibotta. “Advertisers are wondering, ‘what’s next?’ We created this campaign to showcase the opportunities that Ibotta and the IPN can offer at scale, a full spectrum of performance marketing services to help advertisers and retailers navigate the changing landscape of advertising.”
The B2B campaign and visuals feature the Ibotta brand colors as a spectrum of services. Each one represents unique opportunities for advertisers and retailers to partner with Ibotta. From at-scale opportunities in promotions (cash back offers distributed across the IPN), to the unique capabilities of the Ibotta properties (the Ibotta app, browser extension, and Ibotta.com), to data, insights and media, Ibotta has proven solutions to help advertisers and retailers navigate this challenging digital advertising ecosystem.
The initial campaign will showcase all colors and speak to the value of the entire network, while subsequent executions will be more targeted for the unique capabilities Ibotta can offer and be laser-targeted towards specific B2B audiences.
About Ibotta
Headquartered in Denver, Colo., Ibotta ("I bought a...") is a free-to-use cash back rewards platform that has delivered more than $1.1 billion in cumulative cash rewards to its users for making purchases in-store, on mobile apps, or online. Launched in 2012, Ibotta has more than 40 million downloads and is one of the most frequently used shopping and rewards platforms, offering cash back on purchases from more than 2,700 leading brands and retail partners. In addition to its owned properties, Ibotta also powers closed loop rewards programs for top retailers and makes its offer content available on a number of leading websites, social media platforms, and apps through the Ibotta Performance Network.
Focused on creating an open, and inclusive work environment, Ibotta has also been named as a “Top Workplace” by The Denver Post for four consecutive years.
Press Contact
Jennifer Belongia-Barak
Head of Public Relations, Ibotta
Jennifer.Belongia-Barak@ibotta.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/af743c44-381d-4b06-85fc-f033e6c26d88
