Wolt expands tailored ad service to aid partner growth

Technology company Wolt has launched a dedicated advertising service, Wolt Ads, to assist its partners in boosting their growth and visibility. After a successful beta phase, the firm now intends to expand its advertising service across its 27 active markets.

Wolt Ads features two key service lines. One is specifically designed for Wolt's 140,000+ merchant partners, 86% of which are small independent businesses, called Wolt Ads for Merchants. The other, Wolt Ads for Brands, is crafted with large international partner brands in mind.

According to Catalina Salazar, Global Head of Wolt Ads, "We're delighted to be able to introduce Wolt Ads to more partners. Over the past months,  we've seen our partners record significant growth in their sales and return on advertising spend. While it's still very early for us in this area, the initial results and feedback from our partners are extremely encouraging and give us confidence that we're on the right track".

The Wolt Ads for Merchants service aims to enhance local merchant visibility via numerous ad surfaces, such as designated positions in Search, Stores and Restaurants tabs, and the Discovery page. Merchants maintain full control over their advertising via Wolt's self-serve tools. Importantly, merchants are only charged for ads that generate sales, rather than merely clicks or views.

On the other hand, Wolt Ads for Brands is tailored for international brands, providing them with enhanced visibility, both in-app and offline. Brands are offered various options including banners, sponsored placements in product listings, packaging, branded bags, and hyper-targeted sampling.

Salazar highlighted the effectiveness of advertising while customers are already shopping, stating, "Wolt Ads allows our customers to discover new venues and offerings while they are actually doing their shopping, not by interrupting other activities. We're putting a lot of emphasis on ensuring the paid content we show is always relevant and that we don't overwhelm anyone with too much of it. We want advertising to be a win-win and make Wolt even more helpful".

Some relevant supporting research indicates that 76% of consumers get frustrated when marketing efforts are not personalised. In this respect, companies that ensure ads are tailored and relevant, which is a central feature of Wolt Ads, can reduce customer acquisition costs by 50%, boost revenues by up to 15%, and increase marketing ROI by up to 30%.

"Ultimately, we'd love to become the go-to service for growth for all kinds of businesses from small local partners to bigger international brands. It's an ambitious goal, and we're working hard to get there", concluded Salazar.