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Restaurants now have the option to advertise directly on Uber Technologies Inc's (NYSE: UBER) restaurant delivery app along with $25 million worth of marketing credits to promote the feature, the company said in a press release.
What Happened: Uber announced Monday the launch of Sponsored Listings in the Uber Eats app. Restaurant owners can set a weekly budget and be charged each time a customer clicks on their unique Sponsored Listing.
Restaurants can choose to advertise a specific promotion, a loyalty program, or to boost their ranking in the home feed. The owner will receive insights on how their Sponsored Listings is performing to make adjustments as needed.
To promote the new advertising initiative, Uber is giving away tens of millions of dollars worth of marketing credits to U.S. restaurants so they can trial the feature for free.
Why It's Important: Restaurant owners understand the importance of standing out from their rivals and reaching more customers to bring in incremental revenue.
"As we continue to face uncharted territory, our teams are committed to supporting restaurants and merchants with product solutions that are convenient, reliable, and create new earning opportunities," the press release said.
What's Next: Sponsored Listings in the Uber Eats app will be visible to U.S. consumers by the end of the month. The marketing initiative will be expanded to other countries by the end of the year.
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