Cashback programs are increasingly popular in the market. Currently, it's a differentiator. However, the possibility of becoming a basic benefit is substantial.
Therefore, investing in it now will not allow your company to fall behind. See how cashback programs are operating through the example of the Up Cashback program.
Advantages
This program connects participating companies, so a customer who buys from one can spend the cashback at another. This way, it enhances the customer's choices.
The customer's cashback is accumulative, meaning the customer doesn’t need to worry about spending it quickly. They can accumulate it to purchase something of greater value if they wish.
With this approach, a customer from one company connects to another. Thus, a partnership network is built. A customer who earned cashback at a clothing store can spend it buying a coffee or refueling a car, for example.
Marketing
For the customer, the program shows how they can save more. Thus, it focuses on one of the biggest current public concerns, which is the financial crisis or the fear of it.
For companies, it shows how to attract more customers easily and even increase consumption among existing ones. Hence, it addresses one of the current business challenges which is the difficulty in demonstrating value.
How it works
The customer accesses the program through the salesperson's recommendation. They will register on an online site and can download an App to track their activity.
For businesses, it offers explanatory videos on its Instagram page. In a quick and simple way, it is possible to understand how the cashback program works.
With this practicality, Up Cashback boosts its sales and extends horizons for various businesses. See how to create such a program on the Smartbis website.