Rapidly Expanding Ibotta Performance Network Reaches 120 Million Consumer Milestone to Deliver Industry-Best Performance Marketing at Scale
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.
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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.
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