DENVER, May 15, 2023 (GLOBE NEWSWIRE) -- As the Ibotta Performance Network (IPN) celebrates its first anniversary, Ibotta, the leading performance marketing platform, debuts a new program that guarantees 3x return on advertising spend (ROAS) for brands and manufacturers who choose to participate.
Leading brands and manufacturers are reaching platforms with more than 120 million shoppers through Ibotta’s network of retailers, publishers and owned digital properties. Ibotta’s Rewards-as-a-Service (RAAS) platform, including current IPN retailers Walmart and Dollar General, is helping to drive sales in growing channels like Mass and Dollar, and delivering performance marketing efficiency at scale.
In its first year, brands using the IPN have seen incredible results. A leading deodorant brand saw a 1067% daily sale lift, a 70% purchase cycle decrease, and 57% of the shoppers who redeemed their offers were new to the category or switching from a competitor. A prominent single-serve coffee brand saw a 437% sales lift, a 43% purchase cycle decrease, and 60% of the shoppers who redeemed their offers were new to the category or swapping from a competitor.
For consumers, the IPN benefits are tremendous too. On average, the IPN offers more than 2,800 cash back rewards daily. To date this year, retailers who have joined the IPN have delivered millions in cash back to their shoppers, a massive benefit during inflationary times.
“Our vision for the Ibotta Performance Network is to deliver performance marketing at unprecedented scale, and we have done just that, thanks in large part to our network partners like Walmart and Dollar General," said Bryan Leach, founder and Chief Executive Officer at Ibotta. “With this new 3x ROAS Guarantee, we are tripling down on our commitment to our brand and manufacturer partners, and ensuring that we provide the reach and incremental return they need during these highly competitive times.”
With inflation continuing, prices soaring and consumers trading to private label alternatives, marketers are under immense pressure to increase trial, drive incremental sales, and do so efficiently–often with constrained budgets. Traditional advertising aims to increase brand awareness and sales, but can be inefficient and tricky to measure. The IPN, however, runs on a pay-for-sale model, ensuring that marketers secure visibility and actual sales for every dollar spent. No wasted impressions or clicks, and brands do not bear the risk of underperformance. Advertisers on the Ibotta Performance Network average nearly a 50% lift in incremental units sold, with 42% of conversions being new-to-brand.
“The landscape has changed dramatically in the past 12-24 months, and brands are demanding more from their advertising and technology partners,” said Chris Jensen, Chief Revenue Officer at Ibotta. “Cash back rewards provide an efficient and proven model for customer acquisition and retention, and the IPN can do that with a level of personalization and measurement that delivers unparalleled results.”
Building on the success of the first year, Ibotta will now offer a 3x ROAS guarantee. In addition to this return-on-investment promise, Ibotta also offers anti-stacking improvements and a robust suite of insights to help brands understand campaign performance, marketing positioning and more.
Brands looking to take advantage of this new 3x return guarantee can begin to run live programs on July 1, 2023, through the third quarter. For full details, terms and conditions, visit https://ipn.ibotta.com/3x-roas-guarantee. To learn more about the Ibotta Performance Network, visit ipn.ibotta.com.
About Ibotta
Headquartered in Denver, Colo., Ibotta, Inc. ("I bought a...") is a free-to-use cash back rewards platform that has delivered more than $1.4 billion in cumulative cash rewards to its users for making purchases in-store, on mobile apps, or via websites. Launched in 2012, Ibotta has more than 46 million downloads, is one of the most frequently used shopping platforms in the United States and offers cash back on purchases on more than 3,000 leading brands and retail partners. In addition to its owned properties, Ibotta also powers rewards programs for top retailers and makes its offer content available on a number of leading websites and apps through the Ibotta Performance Network. Ibotta was named to the 2021 Inc. 5000 list of fastest-growing private U.S. companies for the fourth year in a row after debuting on the list in 2018. A great place to work, Ibotta has been recognized by The Denver Post four consecutive times, made BuiltIn Colorado’s Best Places to Work list three years in a row and appeared on Inc.’s list of Best Workplaces in 2017 and 2023.
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