Bryan Leach CEO and founder of Ibotta, a client of Los Angeles-based tech and app public relations firm PMBC Group, was recently featured on MarketWatch, for its continuing growth and development of a loyal user base. The mobile app has over 3.5 millions users to date thanks to its cash-back incentives.
Ibotta’s CEO Bryan Leach spoke to the Wall Street Journal’s MarketWatch about the list of benefits for the popular money saving app. Amongst all the great highlights that he discussed, there was one in particular that stood out, which was Leach’s efforts to bring consumers back into stores.
Leach spoke about the different stages at which retailers approached Ibotta in order to benefit consumers. The first stage was for brands to create their own mobile app. It was important to reach younger consumers and millennials who are part of mobile savvy generation. Later, third party applications arose in order to offer a wide variety in one place. For example rather than having 50 different apps for 50 different brands, third party apps create an umbrella where users can view all of their favorite brands.
Leach then went on to explain how Ibotta’s system actually works. Consumers can download the mobile app for free on Google Play, Apple store, and Amazon. Once the user begins to open it they have the chance to explore different content from everyday items they might buy at the grocery to lothing stores such as AeroPostale and Express. There is also content consumers cannot find anywhere else such as videos, endorsements from their friends, and recipes, that can only be found on Ibotta.
The interview also elaborated on the benefits to both the brands and Ibotta users. The first is brand loyalty with consumers beginning to develop loyalty to participating brands and locations and users benefit from shopping in the physical world when they notice cash back in their PayPal accounts or the extra cash they used to purchase a Starbucks gift card. Approximately $10 million dollars in cash rewards have been given back to consumers and $1 billion in transactions have been generated in stores in the U.S. overall courtesy of Ibotta users.
Ibotta is a free app to download and is available to anyone. Word of mouth has o doubt accelerated the popularity of Ibotta and many users may now create a team program once they sign up and connect to their friends that are linked to social media such as FaceBook. These teams create joint spending goals which qualifies and rewards the whole teamwith additional cash back incentives. The team program is the first social saving app that continues to both benefit users and retailers in the physical stores.
To view the full article click here