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All Findings

Ep.75 Calculating the Uplift of Marketing Moonshots (Ibotta)

Today’s guest shares his growth marketing team’s robust approach to experimentation, measuring new channels, and calculating uplift - from NBA sponsorships and direct mail to TV. Learn his insights from spending 10% of their marketing budget shooting for the moon.

Cody Ryan is the Vice President of Growth Marketing at Ibotta, an app that gives users cashback on things they’ve already purchased.

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Questions Cody Answers 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

« “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.” »

Cody Ryan

(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.”