December 6, 2022
With over 17 million active users monthly, Fetch Rewards is reinventing the way consumers engage with brands. With the app, users earn points by submitting any retail or restaurant receipts, plus receipts from online purchases. Users redeem points for free gift cards and other rewards. Branded loyalty clubs offer special perks, extra points, and exclusive offers from within the app. Additionally, users can redeem special offers and refer friends to earn even more points.
The rewards app category is gaining popularity in the US as consumers look to earn back money on everyday purchases.
Of its 17 million active monthly users, Fetch has more than 5 million active users daily – according to data.ai, that is more than Starbucks, DoorDash, Target, and Etsy. Users have scanned more than 2 billion receipts and earned more than $450 million in reward points. Over 500 global brands participate in the Fetch Rewards program and Fetch has surpassed $135 billion in annualized retail sales, making the platform equivalent to the nations’ fifth-largest and fastest-growing retailer.
From baby products and baking items to wellness products and spirits, Fetch represents a new type of digital marketing that ‘fetches’ the most precise ROI measurement in the industry. Users are incentivized to scan every receipt in a social and rewarding manner, and brands are able to take advantage of purchase data for better consumer understanding.
The UA team at Fetch is laser-focused on obtaining the most efficient return on their ad spend. By constantly evaluating and testing, they are able to put their advertising budget into the resources that can consistently bring them users who will install, open an account, perform a first receipt scan, and perform a second scan between seven and 14 days post install. On average across their diversified media stack, 60% of users achieve the second scan goal.
When the Fetch team approached Moloco, they had a particular cost per install (CPI) goal in mind. At the time, their media stack included only one other demand-side platform (DSP). However, soon Moloco was outperforming on the goal, so Fetch set a new, lower goal (nearly 40% lower). Even with more aggressive benchmarks, Moloco has been delivering the desired results.
Moloco’s results speak for themselves and we’ve been with them ever since. Not only are we happy with the results that Moloco is consistently delivering but we also have developed a level of trust that Moloco does the right things to optimize our campaign and maximize our budget.
Rob Finch, Senior Director of Paid Media, Fetch Rewards
The pandemic, the recession, and even a viral TikTok can have a halo effect on user acquisition (UA) campaigns. Finch noted that the Moloco team is able to capitalize on those events to increase campaign performance.
In addition to CPI goals, the Fetch team pays attention to creative. Striving to refresh quarterly, the growth team shares results of Moloco’s A/B testing with their internal creative team. This has proven to be helpful and led to new creative that emphasizes the ‘inflation-busting’ aspects of the app.
As individual growth marketers, delivering results makes the job a bit easier. As a group of marketers delivering efficient advertising results, Fetch was able to meet their 2022 company goals in August – well before the end-of-year target.
Not just a rewards app, Fetch is building the world’s most powerful consumer-engagement platform. The team is gearing up to launch a major new product called Mission Control that will give brand partners unparalleled access to a best-in-class platform for self-service analytics, insights, and content management. On the consumer side, Fetch is adding and refining features that will allow app users to engage more deeply with each other and with Fetch partner brands – daily reward opportunities, team-based challenges, a competitive leaderboard, and an in-app social experience. These innovations will fuel the company’s goal of becoming an “everyday carry” app and scaling to more than 100 million households.
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