Apptivate: App Marketing Explained Calculating the Uplift of Marketing Moonshots - Cody Ryan (Ibotta)
Feb 3, 2021
44:44
Cody Ryan is the Vice President of Growth Marketing at Ibotta, an app that gives users cashback on things they’ve already purchased.
Questions Cody Answered in this Episode:
- How valuable is the MBA? Do you find that you’re leveraging in your job responsibilities?
- How difficult was it to educate the market on why people should use Ibotta?
- As a performance marketer, are you tracking the effects of sponsoring the New Orlean Pelicans?
- What does one point of brand awareness mean? How does that manifest on your end?
- What systems do you have in place for measurement, or to determine if something is a viable channel for you?
- At Ibotta, have you invested more heavily into things like data science and marketing analytics to help power what you’re doing?
- What’s something that’s within the 10% that worked much better than you thought it would?
Timestamp:
- 4:19 Cody’s professional background
- 10:15 What is Ibotta? Getting brands on board with the product
- 15:07 Tracking uplift of being an NBA Sponsor of the New Orlean Pelicans
- 17:38 The 70/20/10 philosophy
- 20:30 Measuring uplift, calculating testing risks
- 27:56 Where we’re investing to grow our business
- 31:47 Surprising growth marketing results with TV
Quotes:
(17:54-18:02) “What we’ve done as an approach as a team is we carve off a certain percentage of our budget to just try things that could be moonshots.”
(20:37-20:58) “We try to do across the business is have our teams understand one percentage point increase in activation rate is worth X million dollars in gross profit or adjusted revenue or whatever your topline metrics are; because it helps ground people in small incremental improvements make big impacts on the business.”