How Wolt Grew Revenue by 60% in One Month With Predictive Goals

Wolt, a Helsinki-based technology company, is on a mission to create technology that brings joy, simplicity, and earnings to the neighbourhoods of the world. Founded in 2014, Wolt joined forces with DoorDash in 2022 and now operates in 30+ countries and 1,000 cities, partnering with 200,000+ active venues around the world.

Catering to both B2B and B2C segments on such a global scale means that personalization is a top priority for the Wolt team. Their primary objective is to convert newly registered users into loyal customers within the first 30 days. To do this, they modernized their marketing tech stack with AI to streamline operations, drive user engagement, and boost efficiency.

The platform at the center of their martech stack, which they rely on to communicate with customers, is Iterable.

For Wolt, the task was double-edged. The marketing team sought to drive user engagement with localized campaigns—an already monumental feat given the diverse and international nature of its audience—but they also wanted to significantly reduce the manual labour, which was highly resource-intensive and inefficient, involved in creating these individualized experiences. Their previous process for localization was not only time-consuming but also lacked the desired precision in personalization.

Iterable became Wolt’s top choice for its customer communications, thanks to the platform’s ability to scale operations locally and accommodate Wolt’s need for a nuanced, hyper-regional approach to marketing.

To automate the majority of this manual work, Wolt looked to AI solutions and was impressed by Iterable’s AI Suite, especially its Predictive Goals feature. With Predictive Goals, the Wolt team can analyze their historical data to predict which users are most likely to convert on specific business goals.

Taking Advantage of Predictive Goals

Wolt wanted to cross-sell products and drive new vertical adoption (retail business) more efficiently—without all the effort of setting up many different test groups and journeys. Using Iterable’s Predictive Goals, the marketing team analyzed which users were most likely to complete the following conversions:

• Make their next order
• Make their first retail order 
• Become paying subscribers

They then set up control and experiment groups to ensure at least a 50% uplift of revenue or incremental users. The results were dramatic. Within one month, Iterable’s Predictive Goals led to 97% more first-time supermarket users and 60% more revenue in one of Wolt’s key markets, compared to the control group.

Additionally, by predicting which users were most likely to place their next order, Wolt achieved a 3% revenue uplift in one of their markets—without offering any discounts or incentives. Now the team can reduce the time between customer purchases and improve their bottom line.

These outstanding results led to Wolt receiving Iterable’s award for Best AI-Powered Customer Experience in the 2024 Expies. This recognition highlights Wolt’s creativity and innovation in using Iterable’s AI to intelligently engage with their audience and revolutionize their customer communication approach.

Predictive Goals enabled Wolt to access deeper behavioral data than the team had been able to do in the past, but it’s not the only part of the Iterable platform that has allowed them to scale quickly with minimal effort.

Rita Bastos, CRM Manager at Wolt, spearheaded a transformative initiative that significantly reduced manual workload while streamlining CRM operations.

Through innovative thinking, Rita designed, tested, and implemented Iterable’s content catalog setup, condensing the company’s multitude of templates from over 400 to just 16. Rita’s achievements not only save substantial time and resources but also ensure consistency, accuracy, and scalability across all campaigns. Her approach maximized efficiency and productivity and set a new standard of excellence at Wolt.

Implementing Iterable’s solutions, particularly its AI Suite and Catalog, which Rita managed, has enabled Wolt to personalize content at scale efficiently. 

As Adrian Gray, Wolt’s Director of Marketing Automation, explained, “One of the biggest challenges we had was trying to scale. We were trying to build journeys in all these countries and localize them. Making them relevant for that user in any given country was so hard to do previously.”

Now, with Iterable, Wolt is able to dramatically reduce the time required to create market-specific campaigns. Vanessa Yepez, who oversees user acquisition at Wolt, shared that the efficiency and time savings with Iterable have been undeniable.

Wolt’s journey with Iterable is just beginning, with ambitious plans to expand its use of personalization into new channels such as push notifications and in-app messages. This next phase represents not only a technical evolution but also a deepening of a trusted partnership.

“One of the best aspects of our partnership with Iterable is the level of service we receive. Our Customer Success Manager and dedicated support agent have been truly outstanding,” said Vanessa Yepez, Global CRM Lead at Wolt. This sentiment highlights how the collaboration extends beyond product features, rooted instead in the human relationships that power innovation.

The team remains confident in its partnership with Iterable, underscoring the importance of a collaborative approach and the unparalleled support Iterable has provided. “It’s been a very positive experience partnering with Iterable. We’re able to work with their product team very closely, and that’s really important to us. It’s something that I haven’t seen on too many platforms, where we can give feedback on feature requests. The people behind it sometimes are more of the investment because they’re the ones who will help you continuously improve,” noted Adrian Gray, Director of Marketing Automation at Wolt.

This relationship has set the foundation for Wolt to achieve its lofty goals of enhanced personalization, increased efficiency, and ultimately, higher customer satisfaction across the globe.

If you’re interested in automating personalized experiences at massive scale, reach out and schedule a demo of Iterable’s AI Suite today.