Proprietary measurement methodology recognized in list of top tech breakthroughs across industries that promise to transform the future
MADISON, Wis., Nov. 28, 2023 /PRNewswire/ — Fetch, the nation’s No. 1 consumer-rewards app and leading consumer-engagement platform, today announced that it has been named to Fast Company‘s third-annual Next Big Things in Tech list, honoring technology breakthroughs that promise to shape the future of industries—from healthcare and security to artificial intelligence and data.
This year, 119 technologies developed by established companies, startups, or research teams are highlighted for their cutting-edge advancements and potential to impact consumers, businesses, and society overall. While not all of the technological developments are available in the market yet, each one is reaching key milestones in order to have a proven impact in the next five years.
Fast Company highlighted Fetch in the Marketing and Advertising category for the development of its proprietary measurement methodology, Verified Incremental Return (VIR). VIR measures incrementality driven by a campaign on the Fetch platform, using randomized control trial methodology and verified in real-time by receipts with SKU-level data from all purchases, both in store and online. Thanks to VIR, brands that partner with Fetch can genuinely understand how their advertising spend impacts their business in an increasingly competitive market–something that was not possible with legacy advertising measurement methodologies like incremental return on ad spend (iROAS) or return on ad spend (ROAS). VIR gives marketers a new, highly accurate approach to reporting campaign success, helping them answer the age-old question, “Did my ad work?”
“At a time when commerce and advertising are undergoing massive changes, Fetch is reshaping how brands and consumers connect,” said Fetch CEO & Founder, Wes Schroll. “This award underscores our commitment to innovation. There’s a massive need right now for better measurement to elevate the channels and programs that move companies forward and remove the waste that’s holding them back. We’re helping solve this problem.”
Since the app launched in 2017, more than 51 million people have downloaded Fetch specifically to interact with their favorite brands and earn rewards for digitizing their purchase history.
But Fetch is about more than just submitting receipts – it’s an essential touchpoint within the omnichannel consumer journey. Users open the app on a daily basis, browsing offers, discovering new products, referring friends, participating in sweepstakes and competing with other Fetchers on the rewards leaderboard.
Today, Fetch is among the most popular apps in the Shopping category, outperforming juggernauts like Amazon and Target in terms of engagement and retention. In fact, only social apps like Facebook, Instagram and Snapchat achieve engagement on Fetch’s scale.
Fetch is an essential partner to some of the biggest CPG, restaurant and retail companies, with more than 650 brands using the platform to drive incremental behavior at scale, build loyalty and understand the true impact of their marketing.
Within the pantheon of next-gen adtech, Fetch is a retail-agnostic media platform (RAMP). This unique category includes mobile apps like Instacart, Shipt, DoorDash, UberEats and Fetch – digital commerce platforms that serve as hubs connecting consumers with multiple brands, retailers and/or restaurants.
The fullest expression of the next-gen adtech strategy is an retail-agnostic, omnichannel consumer-engagement platform. Designed with user experience in mind, these tools empower brands to engage with their audience in even more meaningful ways – interactive content, personalized offers and recommendations and rewards for loyalty. The data collected through these interactions provides valuable insights, helping brands refine their offerings even further based on consumer preferences.
“The Next Big Things in Tech is not just a look around the corner—it’s a look around the corner after that,” says Brendan Vaughan, editor-in-chief of Fast Company. “These are the products and ideas that will define technological innovation for the rest of this decade and beyond—and solve some of the world’s most pressing issues. We are thrilled to honor the organizations that are making them a reality.”
Click here to see the final list.
The Winter 2023/2024 issue of Fast Company is available online now and will hit newsstands on December 5.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. The editor-in-chief is Brendan Vaughan. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication, Inc., and can be found online at fastcompany.com.
About Fetch
Founded in Madison, Wis., Fetch is on a mission to help people have fun and save money with every purchase. The No. 1 rewards app on the market, Fetch shoppers have collectively submitted more than 5 billion receipts and earned more than $810 million in rewards points. Fetch is available to download free on the App Store and Google Play Store and has more than 4 million five-star reviews from happy Fetchers.
CONTACT: Allison Geyer, [email protected]
SOURCE Fetch
