from free offer
Walmart in-store vs. Walmart.com
from increased ad budget
1. Boost the Ibotta offer redemption rate
2. Open the offer up to relevant audiences outside of Ibotta’s 6 million members
3. Quickly increase sales velocity at Walmart (in-store and online)
1. Launched an Ibotta rewards campaign for Walmart with a $1 OFF offer before upgrading to a FREE offer ($7.34 value)
2. Leveraged Ibotta’s audience data for expanded targeting
3. Partnered with LiveRamp to have the following audiences transferred to our Meta account and excluded each audience from the others to prevent overlap:
4. Developed creative that was relevant to the offer and retailer (see video below)
5. Starting 12/27/22, we ran ads at $50/day for ~3 weeks and increased the offer value from $1 OFF to Free ($7.34 value)
6. To further understand impact from the ads, starting 1/19/23, we increased ad budget to $100/day and ran for ~2 weeks more
7. Overall, we invested $2.78K in ad budget
Because advertising attribution is not a functionality of Ibotta, we understood that redemptions from the Meta ads would be blended in with in-app members, as well as Walmart.com onsite/syndicated reward redemptions.
Thus, we looked for a correlation with when the ads started – and when the ad spend was increased – to understand the impact on sales velocity.
Looking at the chart below, you can see 2 major bumps in velocity:
Additional Metrics