This mobile company found a way to grow installs and engagement at the same time.
With consumers spending 86% of their time on mobile in apps, apps are an incredibly vital tool in the mobile marketer’s kit. At the same time, most marketers working in mobile, and in apps in particular, know that retention can be an issue for this increasingly popular channel. This was the case for consumer technology company Ibotta before it partnered with the in-app video advertising platform Vungle.
Ibotta offers cash back or rebates on qualifying purchases to consumers who shop with Ibotta partners like Walmart, Target, Kroger, and more than 340 other brands, including other apps. The company found itself in need of, not only more installs, but more crucially, more engagement from consumers using the app, particularly after their first purchase.
“Our strategy, like many apps in the [app] ecosystem was to scale user acquisitions at an efficient cost, and also bring in highly engaged users,” says Diana Kim, director of growth at The Mobile Growth Agency, who worked as senior growth manager at Ibotta during its partnership with Vungle. “So, in Ibotta’s case, we were looking for a user to make a redemption, and continue to make redemptions after their first purchase.”
Kim and her team determined that video was the way to go toward achieving their goals of efficiently gaining new, engaged users.
“Video is a very engaging ad type. It allows you to tell the story more in-depth than what a static ad would do,” Kim says. “For an app like Ibotta, where it’s a little more complex in terms of what the app [does] and what value it brings to a user, was a great platform for explaining the app.”
Vungle emerged as the clear partner for this endeavour, having established itself in the mobile space as one of the leaders of in-app video advertising, particularly in mobile gaming, where the company has truly become a force.
“What we did was really talk to Ibotta, and understand what we needed. Once we were able to identify that goal, it was something that really lined up with what Vungle does.” says Edward Tan, senior marketing manager at Vungle.
What Vungle does, and what Ibotta was looking for, was a way to move beyond the prevailing challenge for mobile marketers today, driving users to install the app. “It’s very easy to provide a lot of installs,” Tan explains. “But the trick, especially for mobile, is that you can get consumers who are much more engaged, and you have the data to understand how many of the users [driven] to the app actually performed the action you wanted them to.”
And so work began on rolling out Ibotta video ads across Vungle’s wide array of publishers. As with anything related to advertising, this was a phase of intense optimization.
Ibotta and Vungle tested creative, choice of publishers, format (in terms of landscape ads versus portrait ads), and other variables that could increase engagement with the video ads. Much of the creative was actually built by Vungle, including interactive end cards that users who saw the mobile video ads could engage with.
“What we ultimately found was, with the mix of targeting the right publishers, identifying key creative types, as well as incorporating interactive end cards…we actually decreased the cost of acquiring a user by 50%,” Kim says.
Ibotta also saw twice as many users make a purchase within 30 days of installing the app, while the interactive end card ads generated a 25% higher conversion rate than the non-interactive ads.
“With the reduction in costs, that allowed us to see a significant uplift in conversion rate. I would say that definitely was a win,” Kim says.
Published at Fri, 10 Mar 2017 11:00:00 +0000