Performance marketing platform for promotions Ibotta recently unveiled LiveLift. The breakthrough tool from the Denver-based company is designed to help consumer packaged goods (CPG) brands maximize the profitability of their promotions.

LiveLift allows brands to measure and optimize their campaigns while they are live, Ibotta says, which helps achieve profitable revenue growth. Brands such as Liquid Death and Hain Celestial took part in successful campaigns during LiveLift’s pilot phase and demonstrated the tool’s ability to drive incremental sales lift, velocity and faster repurchase cycles.

“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,” said Bryan Leach, CEO and founder of Ibotta, in a statement. “Marketers have come to expect precise measurement in their digital marketing efforts, but historically did not have access to the same level of capabilities for digital promotions. LiveLift enables brands to reinvent their national promotion strategy, allowing them to drive incremental volume at scale with control and efficiency.”

Ibotta is currently piloting LiveLift with leading CPG brands and has future plans to roll it out more broadly with features that allow for increasing frequency of campaign measurement and greater optimization capabilities, it adds.

“We’re energize 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, in a statement. “LiveLift gives us an enhanced ability to measure incremental sales lift, ultimately empowering us to make better informed investment decisions on an ongoing basis.”

The new tool from Ibotta follows the company’s recent announcement of its strategic partnership with Chicago-based Circana, an advisor on the complexity of consumer behavior. Initial Circana Household Lift studies completed during the partnership proof-of-concept showed that Ibotta campaigns resulted in strong incremental sales that exceeded category benchmarks for other media investments, it shares.

More information about LiveLift and the Ibotta platform can be found at Ibotta.com.