Ibotta, Inc., listed on the New York Stock Exchange under the ticker IBTA, has introduced a new tool called LiveLift that aims to change how Consumer Packaged Goods brands evaluate and improve their promotional performance. The company describes LiveLift as a major advancement that focuses on helping brands increase the profitability of their campaigns while those promotions are still underway. By measuring results in real time, marketers can make faster decisions that support revenue growth, stronger product velocity, and quicker repeat purchases. Several well known brands such as Liquid Death, Kimberly Clark Corporation, and Hain Celestial have already tested the tool during a pilot period and saw encouraging gains across their initiatives.
Bryan Leach, CEO and founder of Ibotta, said LiveLift applies many of the principles that have driven success in performance marketing to the world of promotional strategies. “LiveLift brings the principles of performance marketing such as flexibility and responsiveness to promotions, giving marketers an enhanced ability to set incremental sales targets, measure and optimize campaigns in an ongoing way to drive profitable revenue growth and expand market share,” he said. Leach added that although marketers expect detailed measurement for digital marketing, that same level of insight has not traditionally been available for the promotions that influence shopper decisions in store and online. “LiveLift enables brands to reinvent their national promotion strategy, allowing them to drive incremental volume at scale with control and efficiency.”
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Ibotta views this capability as another step in raising standards for performance based promotional measurement within the CPG industry. LiveLift remains in pilot testing for the moment, with a select group of global brands using the system to refine their campaigns. The company plans to expand access going forward and intends to add even more frequent measurement options along with enhanced optimization tools as the product grows.
One of the pilot partners, Liquid Death, saw encouraging results and believes the technology will play a strong role in shaping future investments. “We are energized by strategic partners like Ibotta that are a precise mix of innovation and tactical execution, and that ultimately help drive revenue growth for our company, including increases in sales and quicker purchase cycles we saw during our LiveLift pilot,” said Benoit Vatere, Chief Media Officer at Liquid Death. He added that the tool offers improved visibility into incremental sales lift, giving the brand stronger confidence in its decision making.
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The launch follows Ibotta’s partnership with Circana, a global consultancy specializing in consumer behavior. Early studies from their collaboration showed that Ibotta driven initiatives generated incremental results that outperformed category benchmarks tied to other media channels. The news arrives just ahead of Leach’s scheduled appearance at Adweek Brandweek on November 4, an event where he and Vatere will jointly discuss the role of data and optimization in shaping the next era of shopping.
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