Summary of Ibotta Conference Call - November 04, 2025 Company and Industry - **Company**: Ibotta (NYSE: IBTA) - **Industry**: Consumer Packaged Goods (CPG) Core Insights and Arguments 1. **Performance Marketing Revolution**: Ibotta announced the launch of the first-ever performance marketing platform in the CPG industry called LiveLearn, which allows partners to measure the ROI of digital rewards [3][4][6] 2. **Challenges in Measurement**: The CPG industry faces significant challenges in measuring the impact of marketing efforts, particularly in distinguishing between actual sales driven by promotions versus those that would have occurred without them [6][10] 3. **Incrementality Focus**: The conversation emphasized the importance of targeting promotions to new customers rather than existing ones to avoid wasting marketing dollars [10][18] 4. **Real-Time Data Utilization**: The need for real-time data to measure the effectiveness of promotions was highlighted, as traditional methods often involve delays that hinder timely decision-making [15][16][19] 5. **Shift from ROAS to Incremental Sales**: There is a call to move away from Return on Ad Spend (ROAS) as a primary metric, advocating for a focus on measuring incremental sales to better assess marketing effectiveness [21][22][23] 6. **AI and Machine Learning in Marketing**: The use of AI tools to test various marketing hypotheses and optimize promotions in real-time was discussed as a significant advancement in the industry [24][26] 7. **Cross-Channel Sales Measurement**: The complexity of measuring incremental sales across various retail channels (e.g., Walmart, Amazon, Instacart) was acknowledged, with a focus on the need for comprehensive data integration [28][30] Additional Important Points 1. **Third-Party Validation**: The importance of having third-party validation for marketing claims was emphasized, particularly in relation to partnerships with data providers like Circana [37][39] 2. **Customer Retention Strategies**: Strategies for improving customer retention through promotions and understanding buying behavior across different channels were discussed [49][50] 3. **Incremental Sales Results**: Initial pilot results indicated that the marketing efforts were profitable and led to a reduction in the sales cycle, demonstrating the effectiveness of the new approach [50] This summary captures the key points discussed during the Ibotta conference call, focusing on the challenges and innovations in performance marketing within the CPG industry.